INTERNATIONAL EMISSIONS TRADING AND GLOBAL CLIMATE CHANGE. IMPACTS ON THE COSTS OF GREENHOUSE GAS MITIGATION

This report, the first in a series, will examine how economic models address greenhouse gas emissions trading and how that will help mitigate the costs of carbon control. This first phase will contribute to economic modeling in four areas: 1. review of existing models and identification of key assumptions about the effects of greenhouse gas emissions; 2. investigation of the model's theoretical frameworks; 3. encouraging best practices in modeling specific issues, and 4. integrating innovative modeling practices for an assessment of the potential costs of climatic changes.