Book contents
- Frontmatter
- Contents
- List of Figures and Tables
- Acknowledgments
- Introduction
- PART ONE EARTH'S CLIMATE HISTORY AND OUTLOOK
- PART TWO CLIMATE POLICY CHOICES
- 7 Climate Policy Goals
- 8 Policy Mandates and Market-Based Instruments
- 9 The Design of Cap-and-Trade Programs
- 10 Prices, Quantities, and Lessons from Monetary Policy
- 11 The Outlook for Climate Policies
- Appendix: Discount Rates in Climate Analysis
- References
- Index
11 - The Outlook for Climate Policies
Published online by Cambridge University Press: 01 June 2011
- Frontmatter
- Contents
- List of Figures and Tables
- Acknowledgments
- Introduction
- PART ONE EARTH'S CLIMATE HISTORY AND OUTLOOK
- PART TWO CLIMATE POLICY CHOICES
- 7 Climate Policy Goals
- 8 Policy Mandates and Market-Based Instruments
- 9 The Design of Cap-and-Trade Programs
- 10 Prices, Quantities, and Lessons from Monetary Policy
- 11 The Outlook for Climate Policies
- Appendix: Discount Rates in Climate Analysis
- References
- Index
Summary
In the absence of a geo-engineering miracle, the world's climate problem cannot be solved by one large country or a limited group of countries. A substantial effort by all major emitters is needed. A coordinated international effort is essential to promote vigorous efforts by all parties and to avoid causing competitive imbalances through climate policies. However, the appropriate degree of homogeneity among policy approaches across countries at the current time is debatable. Although a uniform price on carbon would promote a cost-minimizing solution to the global climate problem, capacities and responsibilities differ across countries, as do the potential impacts of climate change. In the absence of a common, top-down approach, considerable progress could nevertheless be made through decentralized, national programs that are increasingly linked and harmonized, over time.
A SUCCESSOR TO THE KYOTO PROTOCOL
As noted in Chapter 9, in the Kyoto Protocol, thirty-seven countries with advanced economies agreed to reduce greenhouse gas (GHG) emissions to an average of 5.2% below the 1990 level during the years 2008 through 2012. Part of the emission reductions will come from offset projects located in developing countries (DCs). This distinction between the roles of advanced economies and DCs at Kyoto reflected the principle of “common but differentiated responsibilities” to respond to the climate change problem, which was included in the broader treaty – the United Nations Framework Convention on Climate Change (UNFCCC).
- Type
- Chapter
- Information
- Climate Policy FoundationsScience and Economics with Lessons from Monetary Regulation, pp. 206 - 224Publisher: Cambridge University PressPrint publication year: 2011