At COP-19 in Warsaw, Parties will continue to discuss the development of new carbon markets under the so called Framework for Various Approaches (FVA). The FVA aims to set common rules for domestic and regional carbon markets to sell market units to other countries for compliance with their climate commitments under the UNFCCC. New regional carbon markets such as emissions trading schemes and offsetting programmes are being developed in many countries, including Japan, California, China and South Korea. Parties decided at COP-17 in 2011 that a framework should be established to enable cost-effective mitigation actions, e.g. by using these carbon markets. At the same time it was decided that a certain set of standards needs to be met. Crucial questions that remain are to what extent such market mechanisms should follow a common framework of rules under the UNFCCC, how and at what level these standards should be implemented and whether access to the framework either as buyers or as sellers will depend on a certain level of ambition.