In this new publication Spaargaren en Mol asses the role of carbon markets in governing global carbon flows. They conclude that they are to be regulated by state, market and civil society authorities.
Gert Spaargaren & Arthur P.J. Mol (2013). Carbon flows, carbon markets, and low-carbon lifestyles:reflecting on the role of markets in climate governance. Environmental Politics, 22:1, 174-193