Contraction & Convergence (C&C) is an international policy framework for dealing with global climate change developed by the London-based Global Commons Institute (GCI) by limiting the greenhouse gas (ghg) emissions causing climate change whilst positively stimulating the growth of renewable energy technologies and their markets. It recognises that under current conditions, climate-efficient commerce must be politically guided, rather than solely reliant on the market, if we are to achieve the goal of a sustainable development.
Such a framework would underpin and sustain: • The growth of economic opportunity • The reduction of regional inequity across the world • The orderly transition from carbon to renewable technologies • While retarding the exponential rise in catastrophic losses
Emissions trading: Full international emissions trading would be possible so that countries with low per capita emissions could sell their spare permits to countries unable to manage within their shares. This would allow an efficient and flexible approach, as called for by the US, and would also give developing countries an incentive to invest the proceeds in clean technology since this would give them more permits to sell.
Sustainable growth: C&C does not place a straightjacket on growth per se by its limitation on fossil fuels. Instead it averts catastrophic losses - Munich Re estimates suggest that on present trends the cost of climate-related damages will exceed Gross World Product by 2065 - by promoting the development and growth growth of zero carbon energy technologies necessary to achieve prosperity and make development sustainable.".
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