His plan includes a domestic and international permit trading system for greenhouse gas emissions, similar to the highly successful permit trading system that has dramatically cut acid rain at a fraction of the predicted cost. Seek Win-win solutions . There are a multitude of win-win solutions to reducing carbon emissions, that can improve our energy efficiency and save consumers money. The President believes that we must seek such win-win solutions to addressing climate change. Global participation .
Climate change is a global problem, and requires a global solution.
And many win-win opportunities exist to reduce greenhouse gas emissions in developing countries. That s why the United States has spear-headed joint implementation projects and the President has committed that the Unites States will not adopt binding obligations without developing country participation. Common-sense economic reviews . Our knowledge of the challenges and opportunities we face will grow over time.