Asia & the Pacific

The Harvard Project on Climate Agreements hosted, on January 10, 2012, a study tour of Chinese officials working in climate and energy policy. The tour was organized by the World Resources Institute's China office. The study tour and several members of the Harvard faculty discussed options and prospects for international policy to address global climate change.

The international climate negotiations in Cancun, Mexico, have concluded, and despite the gloom-and-doom predictions that dominated the weeks and months leading up to Cancun, the Sixteenth Conference of the Parties (COP-16) of the United Nations Framework Convention on Climate Change (UNFCCC) must be judged a success.  It represents a set of modest steps forward.  Nothing more should be expected from this process.

A "deal" is proposed in this paper, whereby all major-emitting countries, including the United States and China, agree to reduce emissions through implementation of significant, mutually agreeable, domestic emission-reduction policies. To resolve the competitiveness and equity concerns, a proposed Carbon Mitigation Fund would be created. This proposed fund is contrasted with other existing and proposed mitigation funds and finance mechanisms. 

"...[T]he U.S. and China have been involved in intense talks about climate policy. If the two nations come together in a bilateral agreement—a real possibility—they would have much more leverage to persuade other major nations to join. From there, developing nations could be brought on board by giving them targets that reduce emissions without stifling growth. Advanced nations might agree to more-severe emissions cuts and allow developing nations to make gradual cuts in the early decades as they rise toward the world's average per-capita emissions. With the right incentives, developing countries can and will move onto less carbon-intensive growth paths."

Managing the dangers of global climate change will require developing countries to participate in a global climate regime. So far, however, those nations have been nearly universal in their refusal to make commitments to reduce growth in their greenhouse gas emissions. This paper describes how a set of international "Climate Accession Deals" could encourage large policy shifts that are in developing countries' interests and also reduce greenhouse gas emissions.