Thinking beyond a global carbon price

By MARIANNE FAY AND STEPHANE HALLEGATTE | WORLD BANK

In December talks in Paris involving more than 200 countries may result in a new agreement aimed at reducing carbon emissions. In the months leading up to the conference, The Economist will be publishing guest columns by experts on the economic issues involved. In our last post, Christian Gollier and Jean Tirole of the Toulouse School of Economics explained why a carbon tax, or a carbon cap-and-trade system, should be policymakers' preferred weapon. Here, Marianne Fay and Stephane Hallegatte from the World Bank explain what governments can do to achieve their climate targets.