Economists call for early action in US climate change policy

The US should consider initiating a domestic tradable permit program for reducing carbon dioxide emissions by 2002 if it is to implement the UN Framework on Climate Change, according to four economists at Resources for the Future (RFF).

In an essay written for RFF online forum, Weathervane, the four say that pressure is growing in the US for the early reduction of domestic emissions of greenhouse gases. By establishing a credible early action program, they say, the US will learn about the costs associated with greenhouse gas reduction and thus improve decision-making.
The proposed program, which would create incentives to look for emission reductions and to develop low-emission technologies, should have three key features: broad coverage, a modest target, and equitable burden-sharing. These features would guarantee that the reductions are undertaken in the most efficient possible manner, that the cost of the reductions remain economically acceptable, and that the burden to individuals is both limited and equitably shared.

Follow the link below to read the full essay.

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