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A New Approach to Climate Change: A Consideration of Ancillary Benefits in Linking Regional Permit Trading Systems

Abstract

In this paper, I investigate the economic efficiency of two major approaches to greenhouse gas reduction, and evaluate their respective benefits. First, I trace the path of action and thinking on addressing climate change from a global to a regional level. Second, I consider the major economic benefits of having a globally-integrated greenhouse gas abatement system. Third, I consider the economic benefits of regional approaches to climate change, with a focus on the ancillary benefits from greenhouse gas abatement. I conclude by reviewing the challenges to linking regional abatement systems into a cohesive network, and suggest a potential future approach to an economically-efficient abatement of greenhouse gas emissions

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