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The Evolution of a Global Climate Change Agreement

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  • William A. Pizer

Abstract

This paper argues that while a long-term solution to climate change may require the global market-based solution envisioned in the Kyoto Protocol, a more flexible near-term approach is necessary. First, a broad range of domestic policies need to be embraced and encouraged by an international agreement, not constrained or discouraged by it. Second, developing countries need to be an increased focus of engagement, with expansion and reform of project-based crediting. Finally, a global agreement needs to recognize both technology and mitigation policies and to develop ways to evaluate efforts along each of these dimensions. Over the longer term, such an agreement should evolve toward greater reliance on global market-based solutions, and therefore near-term steps should be viewed both in terms of their immediate practicality and their potential to be refined over time.
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Suggested Citation

  • William A. Pizer, 2006. "The Evolution of a Global Climate Change Agreement," American Economic Review, American Economic Association, vol. 96(2), pages 26-30, May.
  • Handle: RePEc:aea:aecrev:v:96:y:2006:i:2:p:26-30
    Note: DOI: 10.1257/000282806777211793
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    References listed on IDEAS

    as
    1. Fischer, Carolyn & Newell, Richard G., 2005. "Environmental and Technology Policies for Climate Change and Renewable Energy," Discussion Papers 10789, Resources for the Future.
    2. David F. Bradford, 2004. "Improving on Kyoto: Greenhouse Gas Control as the Purchase of a Global Public Good," Working Papers 106, Princeton University, Department of Economics, Center for Economic Policy Studies..
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    Cited by:

    1. Jeffrey A. Frankel, 2009. "An Elaborated Global Climate Policy Architecture: Specific Formulas and Emission Targets for All Countries in All Decades," NBER Working Papers 14876, National Bureau of Economic Research, Inc.
    2. Candelon, Bertrand & Hasse, Jean-Baptiste, 2023. "Testing for causality between climate policies and carbon emissions reduction," Finance Research Letters, Elsevier, vol. 55(PA).
    3. Shanghui Jia & Xinhui Chen & Liyan Han & Jiayu Jin, 2023. "Global climate change and commodity markets: A hedging perspective," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 43(10), pages 1393-1422, October.
    4. Valentina Bosetti & Jeffrey Frankel, 2014. "Sustainable Cooperation In Global Climate Policy: Specific Formulas And Emission Targets," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 1-34.
    5. Seidman, Laurence & Lewis, Kenneth, 2009. "Compensations and contributions under an international carbon treaty," Journal of Policy Modeling, Elsevier, vol. 31(3), pages 341-350, May.
    6. Frankel, Jeffrey A. & Bosetti, Valentina, 2011. "Politically Feasible Emission Target Formulas to Attain 460 ppm CO[subscript 2] Concentrations," Working Paper Series rwp11-016, Harvard University, John F. Kennedy School of Government.
    7. Bosetti, Valentina & Frankel, Jeffrey, 2011. "Sustainable Cooperation in Global Climate Policy: Specific Formulas and Emission Targets to Build on Copenhagen and Cancun," Climate Change and Sustainable Development 115849, Fondazione Eni Enrico Mattei (FEEM).
    8. Bosetti, Valentina & Frankel, Jeffrey, 2009. "Global Climate Policy Architecture and Political Feasibility: Specific Formulas and Emission Targets to Attain 460 ppm CO2 Concentrations," Sustainable Development Papers 55291, Fondazione Eni Enrico Mattei (FEEM).
    9. repec:awi:wpaper:0679 is not listed on IDEAS
    10. Halkos, George, 2014. "The Economics of Climate Change Policy: Critical review and future policy directions," MPRA Paper 56841, University Library of Munich, Germany.
    11. Hansjürgens, Bernd, 2008. "Internationale Klimapolitik nach Kyoto: Architekturen und Institutionen," UFZ Discussion Papers 10/2008, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    12. Bosetti, Valentina & Frankel, Jeffrey A., 2011. "Politically Feasible Emission Target Formulas to Attain 460 ppm CO2 Concentrations," Scholarly Articles 4735391, Harvard Kennedy School of Government.
    13. Battisti, Michele & Delgado, Michael S. & Parmeter, Christopher F., 2015. "Evolution of the global distribution of carbon dioxide: A finite mixture analysis," Resource and Energy Economics, Elsevier, vol. 42(C), pages 31-52.
    14. Valentina Bosetti & Jeffrey Frankel, 2012. "Politically Feasible Emissions Targets to Attain 460 ppm CO 2 Concentrations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 86-109.
    15. Catton, Will, 2009. "Dynamic carbon caps. Splitting the bill: A fairer solution post-Kyoto?," Energy Policy, Elsevier, vol. 37(12), pages 5636-5649, December.
    16. Frankel, Jeffrey, 2007. "Formulas for Quantitative Emission Targets," Working Paper Series rwp07-011, Harvard University, John F. Kennedy School of Government.
    17. Ditya Agung Nurdianto, 2016. "Economic Impacts of a Carbon Tax in an Integrated ASEAN," EEPSEA Special and Technical Paper tp201604t5, Economy and Environment Program for Southeast Asia (EEPSEA), revised Apr 2016.
    18. Halkos, George, 2013. "Uncertainty in optimal pollution levels: Modeling the benefit area," MPRA Paper 47768, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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