Finus, M. (2003b), 'Stability and Design of International Environmental Agreements: The Case of Transboundary Pollution', in H. Folmer and T. Tietenberg (eds), International Yearbook of Environmental and Resource Economics, 2003/4, ...
Author: Dieter Helm
Publisher: Oxford University Press on Demand
Category: Business & Economics
The threat posed by climate change has not yet been matched by international agreements and economic policies that can deliver sharp reductions in greenhouse-gas emissions. Although the Kyoto Protocol has now been ratified by Russia and hence come into legal effect, the USA, China, and India are all outside its emissions caps. Few European countries are on course to meet their own national targets, and even if fully implemented, it is widely acknowledged that the Kyoto Protocolwould make little difference to the carbon concentrations in the atmosphere. In consequence, there is a search for a post-Kyoto framework, new institutions, and new economic policies to spread the costs and meet them in an economically efficient way. Carbon taxes and emissions trading are, in particular,being established in a number of developing countries. This volume provides an accessible overview of the economics of climate change, the policy options, and the scope for making significant carbon reductions.