A Bretton Woods for the Climate

On July 1, 1944, leaders of the Allied
countries met in Bretton Woods,
New Hampshire, to create new global
institutions, the IMF and the World
Bank, that would stand the test of
time. 55 years later world leaders met
in Copenhagen to solve the global
issue of climate change. This time the
meeting ended in almost total failure.
Why? This book argues that the
main problem is the lack of strong institutions.
Instead of trying to make
190 nations reach consensus, the 13
top emitters should create a Major
Emitters Forum. A World Climate
Organisation could link world emissions
markets and create an exchange
rate that would allow outsiders to
plug in. Institutions for linking, funding
and sanctioning would give climate
negotiations a fresh start.