Lessons Learned from Cap-and-Trade Experience.┬áRobert Stavins, 2017, Paper, “Article 6 of the Paris Agreement provides for cooperation among Parties to meet their collective GHG emissions-reduction targets, including through linkage. The simplest way for this to occur is by linking cap-and-trade systems, although linkage of heterogeneous policies, including carbon taxes and performance standards, is also possible in principle.1 Linkages between well-designed national (or subnational) cap-and-trade systems can lower global mitigation costs and improve the functioning of national markets.Link