A core element of the Kyoto Protocol is international emissions trading, and regional or national emissions trading schemes also exist - or will exist - around the world, including Australia, as a means by which governments and corporations can achieve greenhouse gas emissions reductions. Greenhouse gas emissions limits will have an extensive and complex impact on important sectors of the Australian economy.

International experience and Australian research highlight the complexities in the design of, and operating and participating in, carbon markets. For example:

• How do carbon markets work in practice?
• How do emissions trading schemes work?
• What are the strategy and risk management options for compliance?
• What knowledge and skills are required for corporations to maximise shareholder value under carbon constraints?
• How can corporate boards best prepare their corporations for the transition to a carbon-constrained economy?

EcoCarbon's VETP provides answers to these questions and can assist corporations and governments in capacity building and preparedness to take advantage of carbon markets and market mechanisms - essential for corporate success in a carbon-constrained world.