Markets are increasingly central to the resolution of
environmental problems. They played a critical role in implementing
the 1990 Clean Air Act of the United States, which has been
instrumental in reducing acid rain in a cost-effective manner. They
are also central to the global strategy adopted for limiting the
emissions of greenhouse gases under the 1997 Kyoto Protocol and are
being used for resolving conflicts over the use of other
environmental resources, particularly water.
"Environmental Markets: Equity and Efficiency" represents the
first systematic and in-depth study of the economic issues raised
by this growing use of environmental markets. Focusing on the
relationship between equity and efficiency -- which is central to
many of the debates between industrial and developing countries --
the book explores the underlying economics and the possibilities
for win-win solutions that benefit all parties to the problems.
Graciela Chichilnisky and Geoffrey Heal have been instrumental
in developing the economic understanding required for the operation
of environmental markets and for promoting their use among policy
makers leading to the Kyoto Protocol. Contributors to this volume
include established experts from international organizations,
nongovernmental organizations, and academia, including Ra?l
Estrada-Oyuela, who chaired the negotiating committee of the
Framework Convention on Climate Change and the 1997 Kyoto
meetings.
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