The COP21 Agreement and the Economics of its Implementation

Abstract

After the triumph in Paris in December 2015, it seems that we are back to zero. People appear to miss the crux of the climate change problematic: How to implement the COP21 objectives of halting and starting a large reduction of CO2 emissions? The literature on policy implementation entails that it is not only complicated but also likely to meet with failures. In this paper, the standard information about CO2 will be employed to argue that only significant reduction is the use of coal for electricity and petroleum and diesel for transportation will contribute to the implementation success of COP21.