The paper provides a guide to climate-change policy, and, in particular, the three core components: targets, instruments, and institutional structures. First, the optimal path for reducing carbon-dioxide (CO-sub-2) emissions, and the role of the social cost of carbon in the estimation and...

The lack of real progress at the Durban climate change conference in 2011�postponing effective action until at least 2020�has many causes, one of which is the failure to address trade issues and in particular carbon leakage. This paper advances two arguments. First, it argues that the...

In 1990, the Conservative Government published a White Paper on the environment, This Common Inheritance (HMSO, 1990). It summarised the achievements of the past, and advanced the concept of integrated pollution control (IPC). In place of the separate regulation of air, land and water pollution,...

The threat posed by climate change has not yet been matched by international agreements and economic policies that can deliver sharp reductions in greenhouse-gas emissions. Although the Kyoto Protocol has now been ratified by Russia and hence come into legal effect, the USA, China, and India are...