Incentives for Early Action on Climate Change
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This Foundation Paper has been prepared to contribute to the Canadian national process to address global climate change. The paper provides a review of the use of credit and banking to stimulate additional early action to reduce greenhouse gas emissions prior to 2008. As such, it is intended to be used by the National Air Issues Coordinating Committee as the basis of its decision recommendation to the spring 1998 meeting of the Joint Ministers of Environment and Energy.

The Kyoto Protocol introduced new national targets to address the risk of global climate change. The Protocol, in its present form, represents a framework that is only the first step in a longer negotiation process. The outcomes of this process may differ from the current understanding of the Protocol. However, the Protocol's potential for binding targets does present a step-up in the intention of the international community to pursue greenhouse gas reductions.



Source: Business Program IISD, 1998

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