This paper analyzes the political economy of international climate change negotiations, with emphasis on the perspectives of countries in this region. It offers an overview of the historical and recent negotiations and agreements; explains the relevance of key biodiversity agreements for climate change; explores the institutional challenges that parties face in implementing their domestic mitigation plans; and discusses the commercial aspects of climate change agreements (including carbon trading, border carbon adjustment, carbon clubs, low-carbon product requirements, green bonds, and carbon offset markets).