Financing for climate change
This paper argues that the 2009 pledge of $100 billion in 2020 by rich countries for mitigation and adaptation should not be used for mitigation by commercial firms in developing countries, since that would artificially create competitive advantage for such firms and provoke protectionist reactions in the rich countries where firms must bear the costs of mitigation, thereby undermining the world trading system. The costs of heating the earth's surface should be borne by all emitters, just as the price of copper and other scarce resources is paid by all users, rich or poor. That will still leave scope for rich country help in adaptation to climate change and in bringing to fruition new technologies to reduce emissions.
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References listed on IDEAS
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- Trevor Houser & Jason Selfe, 2011. "Delivering on US Climate Finance Commitments," Working Paper Series WP11-19, Peterson Institute for International Economics.
- Trevor Houser & Rob Bradley & Britt Childs, 2008. "Leveling the Carbon Playing Field: International Competition and US Climate Policy Design," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4204, January.
- William R. Cline, 2011. "Carbon Abatement Costs and Climate Change Finance," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6079, January.
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