摘要：The third meeting of the Conference of the Parties of the Framework Conventionon Climate Change held in Japan last December was a lost opportunity to set arealistic policy framework for addressing climate change in the coming decades. Anumber of countries proposed targets for greenhouse emissions, to be reached bya target date. The outcome was a range of di.erent targets for each country.Analysis with the G-cubed multi-country model suggests that ￠xed targets are acostly way to address climate change. The extent of potential cost suggests theagreement will eventually fail. A better way to address climate change is to focuson uniformity in policy instruments that deliver di.erentiated outcomes rather thanfocus on di.erentiated policy settings.
