Abstract

Climate change is a long-term problem. Policy to address climate change faces the challenge of motivating collective action on global public goods in a world with no single international authority. International agreements can nevertheless aim to (1) reduce greenhouse gas emissions, possibly through an international emissions trading system (ETS) like that outlined in the Kyoto Protocol; (2) develop new low-emissions technology by providing incentives for cooperation on technology research and implementation; (3) provide adaptation assistance to countries and populations least able to cope with expected changes in climate.