To address the problem of human induced climate change effectively, climate policy must embody the principles of economic efficiency, environmental effectiveness and equity. In this paper it is shown that such a climate change policy should include a broad coverage of major greenhouse gases and...

In this paper ABARE's Global Trade and Environment Model (GTEM) is used to analyse the potential of international emissions trading as a mechanism for helping to achieve the abatement commitments agreed to in the Kyoto Protocol. The prospect of two emission trading blocs, one consisting of the...