National greenhouse gas emission management initiatives across the world should be linked together under a new post-2012 climate agreement to establish a global carbon price, international business sustainability group WBCSD says in a new report.
It says different national approaches, from "cap-and-trade" to technology standards, should be recognised under a single international framework overseen by an independent body.
This would have the added advantage of enabling differentiated contributions from developed and developing countries to a global goal, WBCSD says. This idea of "common but differentiated" responsibilities is a fundamental principle and point of debate in the UN's international climate talks.
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