A Copenhagen Price Collar. Warwick McKibbin

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As we approach the Copenhagen global negotiations on emissions reductions, economist Warwick McKibbin looks at recent approaches to the issue and where they have failed.

The Kyoto protocol focused on commitments of developed countries with an exclusive goal of emission reductions from historical base year emissions. However, these varied widely, so achieving similar targets has required very different efforts by different countries at different times. These differences have greatly hampered climate cooperation. McKibbin looks at alternative means of designing a global emissions reduction scheme.

Lowy Institute, September 2009

Source:

Lowy Institute

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