Global Carbon Pricing: A Better Climate Commitment
Peter Cramton and Steven Stoft ,
Global Energy Policy Center, Research Paper No. 09‐06

Developing countries reject meaningful emission targets (recent intensity caps are no exception), while many industrialized countries insist that developing countries accept them. This impasse has prevented the Kyoto Protocol from establishing a global price for greenhouse gas emissions.   This paper presents a solution to this dilemma—allow countries to commit to a binding global carbon‐price target. This commitment could be met by cap and trade, a carbon tax, or any combination.

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