The Stern Review

Paper commissioned by the government of the United Kingdom on the effects on the global economy of climate change in the next 50 years. It was coordinated by World Bank economist, Sir Nicholas Stern, and published on October 30, 2006. One of the main conclusions of the report is that the spending to stabilize the emission of greenhouse gases into the atmosphere would be equivalent to 1% of the world’s GDP by 2050.

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Marrakesh Agreement

With 39 decisions, the Marrakesh Agreement compiles the principles, nature, scope, types, and procedures of the flexible mechanisms (CDM, Joint Implementation and Emissions Trading). It was in Africa, in the city of Marrakesh, during the seventh Conference of the...

Annex I parties or Annex I countries

The Annex I to the Climate Change Convention is composed of parties to the convention and the industrialized countries of the former Soviet Union and Eastern Europe. The division between Annex I parties and non-Annex I parties separates the countries according to...

Externality

The fact of existing outside the perceiving subject. This economic phenomenon can be categorized as positive or negative when, in the price of the good placed on the market, the social gains and losses resulting from its production or consumption, respectively, are...