In earlier papers we have argued that the Kyoto Protocol is not sustainable as a global climate change policy and have proposed an alternative policy regime based on a coordinated but decentralised system of national permit trading systems with a fixed internationally negotiated price for...

Beyond the Kyoto Protocol

The Next Step for Climate Change Policy

The third Conference of the Parties to the United Nations Framework Convention on Climate Change will be held in Kyoto in early December. These upcoming negotiations, aimed at reducing future emissions of greenhouse gases, are almost certain to accomplish nothing. Failure is likely because the...

Climate Policy and Uncertainty: The Roles of Adaptation versus Mitigation

Global Emissions Trading: Prospects and Pitfalls

In this paper we update our earlier estimates of the cost of the Kyoto Protocol using the G-Cubed model, taking into account the new sink allowances from recent negotiations as well as allowing for multiple gases and new land clearing estimates. Rather than comparing this to the original Kyoto...

The next major round of international negotiations on controlling global climate change is to be held later this year in Kyoto. The focus of talks to date has been on policies to reduce worldwide carbon dioxide emissions to 1990 levels and hold them there. A proposal by the United States would...

Permit Trading Under the Kyoto Protocol and Beyond