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[ D] How can climate change be coped with? Which instruments should be used in order to reduce greenhouse gas emissions? Policymakers can choose out of a wide range of instruments, e.g.:
Whereas theoretically the answer is sometimes quite simple, it can turn out to be a very difficult task in reality. Reality is much more complex than can be captured by models. One has to take into account not only issues of social or political acceptability, but also major barriers that might impede the introduction of climate policy measures. Matters such as path dependencies concerning the regulatory framework as well as transaction costs associated with the implementation of a certain instrument shouldn't be ignored when it comes to the implementation of policy instruments. The existing legal and institutional framework conditions are key for finding solutions. Regarding design questions in climate change policy our research focuses on the applicability of the flexible mechanisms within the Kyoto Protocol, the new emissions trading scheme in the European Union, the analysis of eco taxes and environmental agreements as well as of support schemes for renewable energy.
