That s why the President s plan emphasizes flexible and market-based mechanisms. 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.
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 impl ementation projects and the President has committed that the United 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.