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A better Kyoto: options for flexible commitments


  • Frank Jotzo

    () (Australian National University, Research School of Pacific and Asian Studies)

  • John C. V. Pezzey

    () (Australian National University,Centre for Resource and Environmental Studies)


A 'new Kyoto', called for by the Australian government, may well be based on cap-and-trade, but with significant changes. Under the old Kyoto, broad participation and meaningful commitments were difficult to achieve - in part because of uncertainty about compliance costs and the dichotomy between countries with targets and those without. This policy brief examines options for making greenhouse gas commitments under a 'New Kyoto' more flexible: intensity targets, sectoral targets, non-binding targets, permit price caps, and linking targets with commitments for technology development. We also touch on market-based options outside the target-based paradigm.

Suggested Citation

  • Frank Jotzo & John C. V. Pezzey, 2006. "A better Kyoto: options for flexible commitments," Economics and Environment Network Working Papers 0610, Australian National University, Economics and Environment Network.
  • Handle: RePEc:anu:eenwps:0610

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    References listed on IDEAS

    1. Philibert, Cedric, 2000. "How could emissions trading benefit developing countries," Energy Policy, Elsevier, vol. 28(13), pages 947-956, November.
    2. John Pezzey, 2003. "Emission Taxes and Tradeable Permits A Comparison of Views on Long-Run Efficiency," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(2), pages 329-342, October.
    3. Frank Jotzo & John C. V. Pezzey, 2006. "Optimal Intensity Targets for Greenhouse Emissions Trading Under Uncertainty," Economics and Environment Network Working Papers 0605, Australian National University, Economics and Environment Network.
    4. Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
    5. A. Denny Ellerman & Ian Sue Wing, 2003. "Absolute versus intensity-based emission caps," Climate Policy, Taylor & Francis Journals, vol. 3(sup2), pages 7-20, December.
    6. Warwick J. McKibbin, 2004. "Climate Change Policy for India," ASARC Working Papers 2004-03, The Australian National University, Australia South Asia Research Centre.
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    Cited by:

    1. Frank Jotzo, 2007. "Climate policy in Australia and globally: where to and how?," Economics and Environment Network Working Papers 0703, Australian National University, Economics and Environment Network.

    More about this item


    new Kyoto; compliance costs; greenhouse gas commitments;

    JEL classification:

    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General

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