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Paris Accord not working claims a band of noble laureates: Simple solution suggested
Jun 19:
A team of Nobel laureates and professors in leading global universities have banded together and used game theory and insights from human psychology to arrive at the conclusion that the Paris accord on climate change is unlikely to solve the climate dilemma.
8The authors however have suggested that the entire paradigm can change through a single but all important change.
8Instead of a non-enforceable cap-based country-wise emission reduction formula, all that signatories to the Paris Accord have to sign up for is adherence to a minimum common price for carbon. The consensus among the authors is that the emission quantity commitment model has failed repeatedly over the past 20 years.
8This wonderfully simple solution, based on the deep rooted "I will, if you will" optimization principle in game theory, can change the game entirely, claims the authors in a series of articles carried here on this website.
8What is also relentlessly argued by the authors is how climate change policies will be more beneficial to a nation than doing nothing about it.
8Adhering to a minimum carbon price will be a fair focal point for the community of nations, reducing risks, while being much easier to enforce, and is consistent with climate policies already in place. Indeed, one big advantage of a carbon-price commitment is that it will not interfere with the current, dispersed cap-and-trade experiments, thereby leaving the door open to a future rehabilitation of caps should the need arise.
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8The authors however have suggested that the entire paradigm can change through a single but all important change.
8Instead of a non-enforceable cap-based country-wise emission reduction formula, all that signatories to the Paris Accord have to sign up for is adherence to a minimum common price for carbon. The consensus among the authors is that the emission quantity commitment model has failed repeatedly over the past 20 years.
8This wonderfully simple solution, based on the deep rooted "I will, if you will" optimization principle in game theory, can change the game entirely, claims the authors in a series of articles carried here on this website.
8What is also relentlessly argued by the authors is how climate change policies will be more beneficial to a nation than doing nothing about it.
8Adhering to a minimum carbon price will be a fair focal point for the community of nations, reducing risks, while being much easier to enforce, and is consistent with climate policies already in place. Indeed, one big advantage of a carbon-price commitment is that it will not interfere with the current, dispersed cap-and-trade experiments, thereby leaving the door open to a future rehabilitation of caps should the need arise.
Click on Reports for more
