A Framework Convention on Climate Change was signed at Rio de Janeiro in June 1992. This convention contains a commitment by participating countries to work towards reductions in their emissions of greenhouse gases. Now that a convention has been signed, world attention will quickly focus on how this abatement should be carried out. In a "market-based" approach, the two most often discussed options are tradeable permits and taxes. This volume contains technical papers discussed at an OECD workshop on tradeable permits. The book draws on actual experiences with tradeable permits systems and reviews the key design problems in using them to respond to the threat of global warming.
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