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Global Challenges and the Need for International Cooperation in SEE Dejan Erić Institute of Economic Science, Belgrade 18th May 2010 So Many GLOBAL CHALANGES!? • • • • • • • Globalization Global warming Climate changes Urbanization…. Knowledge Management Long Life Learning …. There are so complex problems – required interdisciplinary approach and complex solutions • Need for international cooperation CLIMATE CHANGE • Natural Sciences - Physical aspects, Biological, …. • Social Sciences – Political, Legal, Economic,– Financial implications… • The Institutional Response – could be summarized in 3 basic ways: – Politics of Climate Change, – the Neo-Liberal Response, – the Kyoto Protocol CLIMATE EXCHANGES • • • • • Kyoto protocol – 3 ways how to decrease emission: Emissions trading Clean Development Mechanism Joint Implementation – JI Projects One of the most important multinational trading systems - EU ETS - European Union Emissions Trading Scheme • For Climate Exchange – Underlying Assets = Rights to trade – so-called Emissions Trading Allowances (EUAs) or Carbone crédits • 1 EUA = 1 tone of CO2 CLIMATE EXCHANGE • A couple of exchanges – Powernext, European Climate Exchange (ECX), Nordpool, Bluenext, Chicago Climate Exchange (CCX) Australian Climate Exchange (ACX), Tianjin Climate Exchange (TCX) • Open issues: – – – – Distribution by Countries Distribution by Applications Copenhagen Summit New Limits • Carbon trading – is not just matter of one sciences… • There are so many reason for cooperation • We have just one world – the world without borders!!!