Reducing the climate change bill

[From the Introduction]. As stated in the Stern report, “the benefits of strong and early action far outweigh the economic costs of not acting” against climate change. The EU has taken the world lead in developing policies to fight against climate change. Such policies must not only be effective in achieving their targets but also cost-effective in this task. The design of internal EU and international climate change policies and the extent to which other countries will join the EU in implementing climate policies determine the magnitude and the distribution of the costs of fighting climate change.