South Asia

Economics are an essential part of understanding climate change and for developing solutions to it. Robert Stavins and Rohini Pande focused on that idea at a Harvard Kennedy School "IDEASpHERE" event titled "Harnessing Market Forces to Protect the Climate."

The finance of climate mitigation and adaptation in developing countries represents a key challenge in the negotiations on a post-2012 international climate agreement. Finance mechanisms are important because stabilizing the climate will require significant emissions reductions in both the developed and the developing worlds, and therefore large-scale investments in energy infrastructure. The current state of climate finance has been criticized for its insufficient scale, relatively low share of private-sector investment, and insufficient institutional framework. This policy brief presents options for improving and expanding climate finance.

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.

The Harvard Project on International Climate Agreements hosted a research workshop in Cambridge, Massachusetts, on March 13–14, 2008. The workshop brought together key scholars and other thinkers working on international climate change policy from a variety of disciplines, including economics, political science, and law. Together, they addressed issues such as how to persuade developing countries — among them China and India — to sign on to an international agreement, how to link climate policy with international trade, and how to effectively address deforestation, which accounts for 20 percent of global emissions. Attendees presented their initial research findings and got feedback on their ideas. The workshop was preceded by a reception and dinner at the Harvard Faculty Club, which featured Todd Stern, a partner at the law firm WilmerHale, as a keynote speaker. The final drafts of the research will be published in early fall 2008.