Three Key Elements of Post-2012 International Climate Policy Architecture
Sheila M. Olmstead
Yale University - School of Forestry and Environmental Studies
Robert N. Stavins
Harvard University - Harvard Kennedy School (HKS); Resources for the Future; National Bureau of Economic Research (NBER)
June 1, 2010
Review of Environmental Economics and Policy, Forthcoming
FEEM Working Paper No. 97.2010
We describe three essential elements of an effective post-2012 international global climate policy architecture: a means to ensure that key industrialized and developing nations are involved in differentiated but meaningful ways; an emphasis on an extended time path of targets; and inclusion of flexible market-based policy instruments to keep costs down and facilitate international equity. This architecture is consistent with fundamental aspects of the science, economics, and politics of global climate change; addresses specific shortcomings of the Kyoto Protocol; and builds upon the foundation of the United Nations Framework Convention on Climate Change.
Number of Pages in PDF File: 27
Keywords: Global Climate Change, Global Warming, Policy Architecture, Kyoto Protocol
JEL Classification: Q54, Q58, Q48, Q39Accepted Paper Series
Date posted: August 31, 2010
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