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Contrasting Future Paths for an Evolving Global Climate Regime

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Type: Working Paper
Author: Barrett, Scott; Toman, Michael
Date: 2010
Series: World Bank Policy Research Working Paper, no. 5164
URI: https://hdl.handle.net/10535/6308
Sector: General & Multiple Resources
Global Commons
Subject(s): climate change
environmental economics
greenhouse effect
Abstract: "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. Our 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."

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