Let's forget Copenhagen and get smart about climate change

There was one positive sign in Copenhagen last week. Someone leaked a draft text of a proposed climate agreement that would break away from the deeply flawed Kyoto model (which exempted the developing world from having to promise anything) and compel both rich and poor nations alike to agree to specific carbon cuts. The leak caused great dissension and infighting among delegates, reflecting a realization—at last—that cutting carbon emissions is not going to be easy.

Of course, I would like to see the politicians move even further away from the Kyoto approach. Instead of making far-fetched promises about greenhouse gases, how about a concrete commitment to green energy research and development? Specifically, we should radically increase spending on R&D for green energy—to 0.2% of global GDP, or $100 billion. That’s 50 times more than the world spends now—but still twice as cheap as Kyoto. Not only would this be both affordable and politically achievable, but it would also have a real chance of working.