While a national carbon credit trading scheme remains elusive, carbon markets are still viewed as an important policy tool for combating climate change. Experience has shown that good design is critical in developing a market that achieves the creators’ objectives.  These past experiences, along with the insights of economic, policy, and business experts, must be considered when the crafting carbon market programs of the future. Critical questions to ask include - how can economic incentives be used to efficiently reach socially desirable results?  How do regulations make or break carbon markets?  What are the main technical issues related to the implementation of carbon regulation and markets?