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An Unambiguous Consequence of the Durban Climate Talks


  • Robert N. Stavins

    (Albert Pratt Professor of Business and Government, Director of the Harvard Environmental Economics Program, and Chairman of the Environment and Natural Resources Faculty Group)


One of the major outcomes of the Durban Climate Conference in 2011 was the “Durban Platform for Enhanced Action” - a non-binding agreement to forge a new treaty by 2015 that will bring all countries under the same legal regime by 2020. This article will explain why the “Durban Platform for Enhanced Action” has opened an important window in climate talks.

Suggested Citation

  • Robert N. Stavins, 2012. "An Unambiguous Consequence of the Durban Climate Talks," Review of Environment, Energy and Economics - Re3, Fondazione Eni Enrico Mattei, March.
  • Handle: RePEc:fem:femre3:2012.03-03

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    References listed on IDEAS

    1. Bassam Fattouh & Pasquale Scaramozzino, 2011. "Uncertainty, expectations, and fundamentals: whatever happened to long-term oil prices?," Oxford Review of Economic Policy, Oxford University Press, vol. 27(1), pages 186-206, Spring.
    2. Frans A. de Roon & Theo E. Nijman & Chris Veld, 2000. "Hedging Pressure Effects in Futures Markets," Journal of Finance, American Finance Association, vol. 55(3), pages 1437-1456, June.
    3. Silvennoinen, Annastiina & Thorp, Susan, 2013. "Financialization, crisis and commodity correlation dynamics," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 24(C), pages 42-65.
    4. Irwin, Scott H. & Sanders, Dwight R., 2012. "Testing the Masters Hypothesis in commodity futures markets," Energy Economics, Elsevier, vol. 34(1), pages 256-269.
    5. Ke Tang & Wei Xiong, 2010. "Index Investment and Financialization of Commodities," NBER Working Papers 16385, National Bureau of Economic Research, Inc.
    6. Pirrong,Craig, 2012. "Commodity Price Dynamics," Cambridge Books, Cambridge University Press, number 9780521195898, March.
    7. Lutz Kilian & Daniel P. Murphy, 2014. "The Role Of Inventories And Speculative Trading In The Global Market For Crude Oil," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 29(3), pages 454-478, April.
    8. Chang, Eric C, 1985. " Returns to Speculators and the Theory of Normal Backwardation," Journal of Finance, American Finance Association, vol. 40(1), pages 193-208, March.
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    Cited by:

    1. Patrick Criqui & Alban Kitous, 2012. "2010-2020 : une décennie décisive pour l'avenir du climat planétaire," Post-Print halshs-00709938, HAL.

    More about this item


    Climate Change; Climate Negotiations;

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy


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