Contrasting Future Paths for an Evolving Global Climate Regime

23 Pages Posted: 20 Apr 2016

See all articles by Scott Barrett

Scott Barrett

Columbia University

Michael Toman

World Bank - Development Research Group (DECRG)

Date Written: January 1, 2010


This paper explores two different conceptions of how an emerging climate regime might evolve to strengthen incentives for more vigorous cooperation in mitigating global climate change. One is the paradigm that has figured most prominently in negotiations to this point: the establishment of targets and timetables for countries to limit their aggregate greenhouse gas emissions. The other approach consists of a variety of loosely coordinated smaller scale agreements, each one of which addresses a different aspect of the challenge, and is enforced in its own way. The primary conclusion is that an agreement of the first type may be more cost-effective, but that a system of agreements of the second type would likely sustain more abatement overall.

Keywords: Climate Change Mitigation and Green House Gases, Climate Change Economics, Montreal Protocol, Environmental Economics & Policies, Transport Economics Policy & Planning

Suggested Citation

Barrett, Scott and Toman, Michael, Contrasting Future Paths for an Evolving Global Climate Regime (January 1, 2010). World Bank Policy Research Working Paper No. 5164. Available at SSRN:

Scott Barrett

Columbia University

3022 Broadway
New York, NY 10027
United States

Michael Toman

World Bank - Development Research Group (DECRG) ( email )

1818 H. Street N.W.
Washington, DC 20433
United States

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