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The Economic Instruments for Climate Change (Policy Brief 251 - November 2011)

The Economic Instruments for Climate Change (Policy Brief 251 - November 2011)


The Kyoto Protocol signed in 1997 establishes a regulatory framework for cooperation in the fight against climate change and reduce emissions of greenhouse gas (GHG) emissions. Coming to an end in 2012, this agreement must be replaced. The UN negotiations in that attempt to bring out a more ambitious agreement in terms of emissions reduction targets as the signatory countries, especially China and the United States, the two largest emitters are not compelled to commitments.

  • The Economic Instruments for Climate

If a single price of carbon (from a tax or a permit market) would be the least expensive option and most effective at the global level, such an agreement is difficult to envisage in the next decade given the disparities existing between countries. The agreement in Cancun in December 2010, and probably that of Durban later this year, moving towards a more pragmatic approach, where states enroll reduction targets, international non-binding, but in line with their policy national climate.

The purpose of the next conference is to build the foundations of this composite architecture and potentially identify new instruments to ensure consistency between the different national and / or regional or even encourage some states now increasingly reluctant to commit for climate protection.


  • The construction of a voluntary approach
  • Linking to rally: a connection for more efficient markets
  • Negotiations: building a common language
  • Authors: Johanne Buba, Sustainable Development Department , Mahdi Ben-Jelloul and Clément Schaff, Economy-Finance Department

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