Permit trading under the Kyoto Protocol and beyond
Conclusion: We have provided evidence from a global economics model, that if the Kyoto Protocol can be made binding there is likely to be a reduction in greenhouse gas emissions at relatively low cost if permit trading is implemented and if all countries and not just Annex 1 countries participate. The appeal of an international permits program is strongest if participating countries have very different marginal costs of abating carbon emissions – in that situation, the potential gains from...[Show more]
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