Two Economic Approaches to Greenhouse Gas Emissions The world’s policy response to the extensive environmental challenges that we are facing today must be comprehensive if it is to meet its goals in long-term sustainability and decrease the industrial impact on our ecosystems on a global basis. At the same time, however, there are complications. As Barrett and Toman (2010) point out, governments are doubtful of their ability to ensure that the industrial development needed to support populations in many areas of the world does not have a long-term detrimental effect on global ecosystems. This doubt comes from the fact that many governments do not agree on the ways in which they may address the issue in an economically efficient manner....The end:
.....d, S., and Mansur, E. (2009). What Do Emissions Markets Deliver and to Whom? Evidence from Southern California's NOx Trading Program. NBER Working paper. Schwarze, R. and Zapfel, P. (2000). Sulfur Allowance Trading and the Regional Clean Air Incentives Market: A Comparative Design Analysis of Two Major Cap-and-Trade Permit Programs Environmental and Resource Economics, 17, 279–298. Stern, N. (2009). The Global Deal. New York: Public Affairs. United Nations. (1997). Kyoto Protocol to the United Nations Framework Convention on Climate Change. Retrieved August 10 2010 from http://law-ref.org/KYOTO/index.html. United Nations. (2010). United Nations Framework Convention on Climate Change. Retrieved August 10 2010 from http://unfccc.int/2860.php.