A Bretton Woods for the Climate
This book has four distinguishing features:1. Strong institutions, 2. A core agreement among major emitters and an open-ended exchange rate mechanism for linking to outsiders, 3. Sanctions against free-riders, 4. Functionality and transparency. Our proposal is the creation of global climate institutions based on a basic agreement in the Major Emitters Forum that would manage links between emissions markets, collect and distribute support for mitigation and adaptation projects in developing countries, and sanction free riders in accordance with WTO rules.
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A Bretton Woods for the Climate
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