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18 N.Y.U. Envtl. L.J. 221 (2010-2011)
Climate Change Governance: Boundaries and Leakage

handle is hein.journals/nyuev18 and id is 225 raw text is: ARTICLES CLIMATE CHANGE GOVERNANCE: BOUNDARIES AND LEAKAGE MICHAEL P. VANDENBERGH*AND MARK A. COHENt ABSTRACT This article provides a critical missing piece to the global climate change governance puzzle: how to create incentives for the major developing countries to reduce carbon emissions. The major developing countries are projected to account for 80 percent of the global emissions growth over the next several decades, and substantial reductions in the risk of catastrophic climate change will not be possible without a change in this emissions path. Yet the global climate governance measures proposed to date have not succeeded and may be locking in disincentives as carbon-intensive production shifts from developed to developing countries. A multi-pronged governance approach will be necessary. We identify a new strategy that will be an important component of any successful effort. Our strategy recognizes that in the context of climate change, the simplified Coasian approach to pollution should be updated to include a more complete view of the options firms face in response to emissions reduction pressure and the sources of that pressure. We demonstrate how governments and Carlton Tarkington Professor of Law, Co-Director, Regulatory Program, and Director, Climate Change Research Network, Vanderbilt University Law School, and Archibald Cox, Jr. Visiting Professor of Law, Harvard Law School. The authors thank Margaret Blair, Michael Gerrard, Linda Greer, Doug Kysar, Robert Mikos, Jonathan Nash, and Robert Thompson for comments on earlier drafts, and the participants at law faculty workshops at Colorado, Emory, Harvard, Illinois, and Florida. Maria Banda, Elizabeth Forsyth, Aysha Ghadiali, Tyler Hagenbuch, Daniel Mach, Shari Meghreblian, Cullen Newton, Jonathan Patton, and Gabe Roberts provided excellent research support. t Vice President for Research, Resources for the Future, and Professor of Management and Law, Vanderbilt Owen Graduate School of Management, and Co-Director, Vanderbilt Center for Environmental Management Studies. 221 Imaged with Permission from NYU Environmental Law Journal

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