Abstract
This paper discusses ways in which the next climate agreement – a renegotiated Kyoto Protocol or a second-period agreement – can be made more cost-effective. The discussion focuses on the design of international emissions trading to facilitate early participation by developing countries. Four aspects are highlighted: the design of compensation rules, the need to regulate the use of the CDM, the effect of allowing borrowing and the implications of a Commitment Period Reserve.
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Bohm, P. Improving Cost-effectiveness and Facilitating Participation of Developing Countries in International Emissions Trading. International Environmental Agreements: Politics, Law and Economics 2, 261–273 (2002). https://doi.org/10.1023/A:1021391431206
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DOI: https://doi.org/10.1023/A:1021391431206