Following the Copenhagen climate Accord, developed and developing countries have pledged to cut their greenhouse gas emissions, emissions intensity or emissions relative to baseline. This analysis puts the targets for the major countries on a common footing, and compares them across different...

In Germany the Volkswagen Diesel scandal is originally a market failure because the harm from vehicle emissions to public health and to the environment is neither internalized by car producers nor by car drivers. This market failure is neither corrected by public regulation nor by civil...