FEEM working papers "Note di lavoro" series
2010 .097

Three Key Elements of Post-2012 International Climate Policy Architecture

Authors: Sheila M. Olmstead, Robert N. Stavins
Series: Climate Change and Sustainable Development
Editor: Carlo Carraro
Type: Journal
Keywords: Global Climate Change, Global Warming, Policy Architecture, Kyoto Protocol
JEL n.: Q54, Q58, Q48, Q39
JEL: Review of Environmental Economics and Policy
Pages: Vol. 6, Issue 1, pp. 65-85
Date: 2012


We describe three essential elements of an effective post-2012 international global climate policy architecture: a means to ensure that key industrialized and developing nations are involved in differentiated but meaningful ways; an emphasis on an extended time path of targets; and inclusion of flexible market-based policy instruments to keep costs down and facilitate international equity. This architecture is consistent with fundamental aspects of the science, economics, and politics of global climate change; addresses specific shortcomings of the Kyoto Protocol; and builds upon the foundation of the United Nations Framework Convention on Climate Change.


Suggested citation: Sheila M. Olmstead and Robert N. Stavins, Three Key Elements of a Post-2012 International Climate Policy Architecture, Rev Environmental Economics and Policy Volume 6, No. 1, Pages 65-85, http://reep.oxfordjournals.org/content/6/1/65

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