This document provides a summary assessment of (presented) scaled-up crediting instruments as well as existing project-based crediting schemes against a number of important general characteristics of such instruments. Its purpose is to provide insights that may inform the design and use of possible scaled-up crediting instruments. This summary assessment begins with an examination of proposals for scaled-up crediting mechanisms. It considers existing crediting instruments, that is, (i) Kyoto project mechanisms (clean development mechanism (CDM) and joint implementation (JI))
and (ii) voluntary emission reductions (VER) schemes (in the non-compliance and voluntary markets). The characteristics (or issues) covered are: (i) national and international circumstances for market-based mechanisms and how these interact
(ii) coverage and boundary setting
(iii) participation and incentives for participation
(iv) caps, baselines, and allocations (or issuance)
(v) market integrity and credibility
(vi) monitoring, reporting, and verification (MRV)
(vii) program authority and administration
and (viii) potential scaling up modalities.