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Under the recent revision of the Kyoto Protocol at Bonn, Germany, countries decided to move ahead with policies to slow greenhouse warming without the United States.

Using the RICE-2001 model, W.D. Nordhaus shows that the revised protocol will have little impact on greenhouse-gas emissions and that the economic burden shifts sharply toward Europe.

The major merit of the new accord, he says, is that it is the first experiment with market instruments in a truly global environmental agreement.

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Reference: Science 294, 1283 (2001)
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