The “climate deadlock” prevented to sign a real substitute for the Kyoto Protocol. But two important novelties nonetheless emerged from Copenhagen. First, an informal, although politically relevant, declaration of national emissions reduction targets for 2020. Secondly, the definition of the Copenhagen Green Climate Fund.
How much good are these news? Announced mitigation targets are far from being adequate to control climate change, however there are chances to put the world on the right trajectory to reduce global warming significantly. The analysis of two economists explains why
