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| Author: | Horesh, R. |
| Title: | Better Than Kyoto: Climate Stability Bonds |
| Journal: | Economic Affairs
2002 : SEP, VOL. 22:3, p. 48-52 |
| Index terms: | ECONOMICS BONDS COMPARATIVE RESEARCH CLIMATE |
| Language: | eng |
| Abstract: | The Kyoto Treaty is flawed in that it attempts to tackle greenhouse gas emissions, rather than climate instability. This article describes a new financial instrument, Climate Stability Bonds, which would inject market incentives into the achievement of a stable climate. The bonds would be redeemed only when a specified degree of climate stability has been achieved. Because the bonds reward the desired outcome, rather than activities, programmes or institutions, they would provide incentives to achieve climate stability more cost- effectively than Kyoto. The paper provides a list of references on this subject. |
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