Monday, July 07, 2008

Rules for the Global Environment

A recent paper by Horst Siebert considers the rules by which the global environment should be managed. Useful as a refresher on the various policy initiatives out there at the moment.

Rules for the Global Environment

Date: 2008-05
By: Horst Siebert


The paper looks at the global environment as a public good and as a sink for CO2-emissions. It discusses problems to be solved in institutional arrangements to protect global environmental media and looks at criteria for allocating the costs of emission reduction and emission rights. It analyzes institutional mechanisms that stabilize CO2-agreements and reviews the Kyoto Protocol, the perspectives for its successor and EU emission trading. The paper also reviews arrangements for iodiversity and existing multilateral arrangements.

Keywords: Public good, Global warming, Emission reduction, Emission rights, Institutional Mechanisms, Kyoto Protocol, Post-Bali negotiations, EU emission trading, fauna and flora, existing multilateral arrangements

JEL: D62 F02 H41 Q20 Q54

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