Tag Archives: Climate Change

An Answer for the Roadblock to an International Climate Change Agreement

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On her visit to India two days ago, Secretary of State Hillary Clinton was publicly rebuffed when she raised the problem of global climate change.    The Indian environment minister declared “we are simply not in the position to take legally binding emissions targets.”

 

No single country can address this problem on its own.  Hence the international negotiations that will take place in Copenhagen in December to try to find a successor treaty to the Kyoto Protocol.   But the international effort has run into a seemingly insurmountable roadblock.     On the one hand, the US Congress is clear: it will not impose quantitative limits on US emissions of greenhouse gases if China, India, and other developing countries don’t impose quantitative limits on theirs.   Indeed, that is why the Senate was unwilling to ratify the Kyoto Protocol ten years ago. The logic seems completely reasonable:  why should US firms bear the economic cost of cutting emissions if carbon-intensive activities would just migrate to countries without caps and global emissions continue their rapid rise?   On the other hand, the leaders of India and China are just as clear:   they are unalterably opposed to cutting emissions until after the United States and other rich countries go first.   And why should they?   The industrialized countries created the problem of global warming, in the process of getting rich;  the poor countries should not be denied their turn at economic development.  As the Indians point out, Americans emit more than ten times as much carbon dioxide per person.       read more

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How to Set Greenhouse Gas Emission Targets for All Countries

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The effects of a changing global climate show up gradually, decade by decade.The effects of a changing US political climate have also been showing up gradually, year by year.A watershed was reached June 25, when the US Congress for the first time approved a bill to limit emissions of Greenhouse Gases (GHGs), by a vote of 219 to 212.But the Senate hurdle will be tougher.  The attempt to address Climate Change still has a very long way to go.

 

The problem

 

Climate Change is of course a global externality.Due to the free-rider problem, no single country, especially the United States, is likely to act on its own.The best solution is a multilateral treaty in which all countries commit to serious action together. In December of this year, a Conference of Parties to the UN Framework Convention on Climate Change will meet in Copenhagen, in the hope of negotiating a successor treaty to the Kyoto Protocol. read more

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Serious Research Balances Economic Costs & Environmental Benefits of Climate Policy

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Ten years ago this summer, President Clinton’s Council of Economic Advisers, of which I was a Member, responded to requests from the Congress, which was then under Republican control, to explain in analytical terms what would be the economic effects of the Kyoto Protocol on climate change that had just been negotiated among the members of the UN Framework Convention on Climate Change.  Our response was a document called the Administration Economic Analysis.   It relied on some of the leading Integrated Assessment Models, and showed that the costs of Kyoto could be relatively low provided international trading of emission permits were freely allowed, and provided developing countries participated in the system.    Not zero costs, as wishful thinking by some techno-optimists would have it.  Not prohibitive costs, as some skeptics would have it.   But moderate costs — relatively low if measures could be implemented sensibly.
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