Handelgegen(Klima-)Wandel_MMaurertwosided.pdf

Emission trading systems, built from their neoclassic- economy blueprint, are regularly found unfit to trigger innovation within the carbon dependent industries they were designed to influence. Recent thougths in economic sociology though, invite to search for innovation rather in the forming of new markets, then in established industries. Studying two companies producing and trading emission certificates it is argued, that along the emission trading systems' clean development mechanism new markets, loan schemes and technologies emerged, which togehther can be thought of as innovation. The effects of these new economic entanglements, which are mainly developed in the global south, are hardly explored. This is problematic as especially new loan schemes such as micro-financing can collapse with drastic consequences for deptors.