The greenhouse effect: negotiating targets

Abstract

The world's climate is heating up. By the year 2030 the global average temperature is likely to be warmer than at any time in the last 120,000 years. The greenhouse effect is a baffling problem and one that may even threaten ecological and human disaster. What are the chances of the world's nations agreeing to limit their energy consumption at a time when the Third World is industrializing faster than ever? This article shows why effective limits to greenhouse gas emissions will not be negotiable on the basis of country-by-country targets. It looks at the alternatives, including a carbon tax, and argues that a system of tradable carbon emission permits is the only realistic possibility for limiting greenhouse emissions globally. Finally, it considers the alternatives if no global agreement is possible.

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