HONG KONG -- The world recently agreed to a new climate framework, and opinions flooded in immediately. Views crossed the spectrum from Jeffrey Sachs, who
called Paris "an act of true global cooperation of historic significance," to James Hansen, who decried the lack of a carbon tax and
deemed the agreement little more than "worthless words."
Both are right. The Paris framework is mostly a set of non-binding pledges and promises. But the agreement is still an important step forward: for the first time, the countries of the world have agreed that we have dug ourselves into a deep hole. Where they faltered is providing a clear path to get out of it. The usual pinning of hopes on technological or financial innovation -- central elements of climate negotiations -- is not a plan; how financing or technology transfers would actually solve the problem is unclear. What technologies would be transferred? Who would receive financial aid and how would it be used?
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