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Building on Kyoto: towards a realistic global climate agreement
About the authors
Warwick McKibbin
Professor Warwick McKibbin was a Professorial Fellow at the Lowy Institute for International Policy until October 2012.
Topics
As negotiations begin in earnest on a successor agreement to take effect in 2012, it is important to learn from experience with the Kyoto Protocol in order to avoid making the same mistakes over again and to design a more durable post-2012 international agreement. This paper presents the lesson learnt from the Kyoto Protocol and proposes a way forward for the post- Kyoto negotiations. It also offers some empirical results for the global consequences of a cap and trade emissions markets, a global carbon tax and the McKibbin Wilcoxen Hybrid emissions market approach.
