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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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