Gernot Wagner: Climate Talks

When someone robs a bank, nobody challenges the legitimacy of banks. They suggest instead that the bank find better security. Why should carbon markets be any different?

Let's avoid the 44 Gt chorus and the guessing about whether we are off by 2, 4 or 6 Gt. Instead, let's focus on the turning point of global emissions, the percentage decrease in emissions after the peak, and the long-term prospects for climate stability. The key is to start the turn toward climate safety now.

Negotiations for a climate deal in December are getting down to the wire at the penultimate session in Barcelona this week. Negotiators are hashing through the essential minutiae of an agreement – a process not without tensions – but at moments like this it’s important to keep in mind what the final deal should look […]