Proposals in Support of the Development of a Protocol to the Framework Convention on Climate Change (FCCC) (WP 97/01)

Abstract#

At COP2 in July 1996 New Zealand endorsed the adoption of legally binding commitments, subject to their achievement at least cost. This paper develops proposals which we consider would improve the prospects of collective action to reduce greenhouse gas emissions at least cost. It builds on our submission of 15 January 1997 relating to mechanisms for flexibility.