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Global Climate Governance: An Equitable and Efficient Approach
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TitleGlobal Climate Governance: An Equitable and Efficient Approach  
AuthorDevelopment Research Center of the State Council  
OrganizationThe research team of Climate Change, Development research centre, State Council, China 
Key WordsNational Emission Account; Cap and Trade; National Emission Reduction Performance Index; Transfer Emission Embodied in Tradable Goods; China’s Emission  
AbstractThis paper proposes an intenational cap and trade system to address the climate issue. The global cumulative anthropogenic CO2 cap from industrial revolution to the middle of 21st century that could limite the global warming within 2°C is entitled equally to each individual person. So each country’s emission account is entitled with an original budget based on its population. Currently, the developed economies run huge deficits while developing ones surpluses. But it is not the case that deficit-counties are not allowed to emit in the coming four decades. On the contrary, this proposal allowed those countries with higher emission productivity to emit more than their original budget if and only if they could balance their account by the middle of 21st century throw the approaches such as buing from other countries, technology transfer, etc. That emission trade arrangement will lead to efficient allocation of scarce emission cap. 
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  • Institute of Economics, Chinese Academy of Social Sciences
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