Inderscience Publishers

Chapter 10: Decentralised control of greenhouse gas emissions: coordination and cooperation

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In Chapter 2, we considered the difficulties of obtaining international cooperation in the control of CO2 emissions. The approach adopted in this chapter assumes there is an ‘empowered’ United Nations, as a principal, that coordinates its members (agents) toward a common goal, which makes this a team-like principal agent structure. We shall show that if at least two countries commit themselves to cooperative behaviour through a team they will arrive at optimal welfare for each of them. This is particularly true if one of them acts as principal, a group of countries or an empowered United Nations and the other as an agent, e.g. a smaller country, both of which have different information structures.

Keywords: CO2 emissions, greenhouse gases, international cooperation, United Nations

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