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Proponents as well as critics of carbon trading underestimate the institutional and political underpinnings of evolving carbon markets. Based on institutionalist approaches, this paper argues that the strong embeddedness of carbon markets explains why certain characteristics (positive and negative) materialize. Focusing on the actors who initiate and who influence carbon markets, this article also shows that currently only states and intergovernmental agreements provide the necessary regulation for carbon markets to exist and to work. Today, neither market actors nor NGOs nor public private partnerships have the political power to set up, regulate or capture evolving market structures. Thus, whether or not market-based instruments bring about the desired results depends on good public regulation, which is - at least up to now - represented by the state. Four instances of the commodification of carbon serve as illustrations: the European Union Emission Trading System (EU ETS); the Clean Development Mechanism (CDM); the voluntary market; and new sectoral approaches, particularly Reducing Emissions from Deforestation and Degradation (REDD+). [ABSTRACT FROM AUTHOR]

This paper highlights the critical role played by ecofeminism and stakeholder engagement in the region to depict a symbiotic relationship between women and forests that is critical in sustaining human and non-human life in the Garhwal Himalayan region of India. While it uses ecofeminism to demonstrate the positive role of community in sustainable forestry and development, the chief aim of the paper is to highlight the need to go beyond the ‘civil society’ versus ‘state’ debate that has become rather popular in the development studies discourse. Instead, the paper posits the need for the two to work in active collusion, not only to be successful but also because it is what the subject/agent needs and demands. This paper is the result of field research by the author in the summer of 2004 in the Garhwal Himalayan region of India. Copyright © 2009 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]