A new climate strategy beyond 2012: lessons from monetary history
In this Perspective, based on the 2007 Shann Memorial Lecture, Professor Warwick McKibbin outlines the key features that are needed in a new climate change framework beyond Kyoto, drawing on lessons from monetary history. Using the analogy of the way modern central banks run monetary policy, it outlines an alternative to the Kyoto protocol which is a system of national climate policies coordinated around a common global price for carbon.
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