Moving towards a long-term carbon priceClearing the air |
The agreement on climate change reached at the G8 summit in July 2005 gives new impetus to action the reduction of greenhouse gas emissions. Whilst not going as far as some would like, the agreement represents an important step forward in developing international co-operation to limit emissions. This publication considers how a number of market-based policy frameworks, of the form encouraged by the G8, rate against the twin objectives of:
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committing in a credible way to rewarding carbon abatement investment in the longer-term and
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fitting with wider policy objectives of ensuring efficient emissions reduction.
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Clearing the air
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