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Perspective: Why Carbon Emissions Should Not Have Been the Focus of the UN Climate Change Summit and Why the 15th Conference of the Parties Should Have Focused on Technology Transfer

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However, climate economists predict that if investment in clean energy technology is dramatically increased, for every dollar spent, the world will avoid eleven dollars of climate damage. According to Tol, the impact of a tax hike of this magnitude could reduce world GDP 12.9% in benefits.