In the ongoing debate on climate change, one of the most pressing challenges is fostering effective international cooperation. This column examines the success of the 1987 'Montreal Protocol' in phasing out harmful chlorofluorocarbons to offer new insights into how international agreements can be made more effective in solving global public goods problems. The Protocol's realistic, enforceable targets created a virtuous cycle of innovation and ambition that ultimately led to its remarkable success, demonstrating the power of induced innovation in environmental agreements.

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12 September 2024

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Vox EU

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https://cepr.org/voxeu/columns/global-environmental-cooperation-and-innovation

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