This document provides an overview andsummary assessment of lessons and insights learned fromvarious existing and presented domestic cap and tradeschemes. For each scheme, a set of general characteristics(or issues) is considered. The characteristics (or issues)covered include the following: (i) coverage and scope; (ii)setting a cap; (iii) setting the points of obligation; (iv)allocation of allowances; (v) systems for domesticmonitoring, reporting and verification, (MRV) andcompliance; (vi) enabling trading and fostering stability;(vii) institutional arrangements, including technical andlegal infrastructures; and (viii) use of offsets andlinking. The domestic emissions trading schemes (ETS)included in this assessment are the following: (i) EuropeanUnion (EU) ETS; (ii) New Zealand (NZ) ETS; (iii) UnitedStates (U.S.) northeast states regional greenhouse gasinitiative (RGGI); (iv) California (Cal) ETS; (v) Australiaclean energy future carbon pricing mechanism (Aus CPM); and(vi) Tokyo cap and trade program (C and T).