Chris Green, an economist from McGill University (Canada), has written an op-ed for the Global and Mail explaining why he thinks that the setting of long-term emissions targets just kicks the can down the road. This is sure to be an unpopular opinion among many in the climate debate, but ultimately I think he is right. Here is an excerpt:

It is not difficult to set forth the outlines of a potentially effective climate policy. Unfortunately, what may be effective is not necessarily politically acceptable. It now seems that the main barrier to an effective climate policy is the obsession with emission targets — a legacy of the Kyoto Protocol. Emission targets stand in the way of concentrating on actions whose payoff is mainly beyond the targeted time frame. Worse, because of an effective effort by climate-change “campaigners” to portray the Kyoto Protocol as humankind’s last best hope on climate change, emission targets have now taken on a life of their own, particularly in political arenas susceptible to grandstanding behaviour. The evidence is all around us.

The fundamental problem with mandated emission reduction targets is that they focus on ends rather than on the technological means of achieving those ends. Because targets are assessed only rarely in terms of what is doable but usually in terms of what pressure groups think ought to be done, target-based policies lack credibility in virtually the same proportion in which they are politically popular. The Conference of the Parties session in Bali will indicate whether there is a sufficient number of countries prepared to say that the target-setting emperor has no clothes, and are ready to put a moratorium on this failed approach to climate policy.

The op-ed is distilled from a longer piece from the magazine Policy Options, and a PDF of that essay can be found here. It is well worth a read regardless of your views on the climate issue.