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
Green Car Congress
DECEMBER 20, 2009
According to Tol, the impact of a tax hike of this magnitude could reduce world GDP 12.9% The cost of fully implementing the Kyoto Protocol (in terms of lost economic growth) has been estimated at roughly $180 billion a year. Other transaction costs include the search of partners, the drafting of contracts, legal assistance, etc.