But perhaps most importantly, the economics have changed. The cost of wind power has declined 40percent since the Copenhagen summit and the cost of solar power 80 percent, making the switch to renewable energy seem more feasible. Meanwhile, the costs of inaction seem ever clearer, noted Glen Murray, the Minister of Environment and Climate Change for the province of Ontario, even if they are often overlooked.
...
The real game changer could be the plan by China to launch a national carbon market in 2016-17. Much like in North America, although with more central guidance, China has been experimenting at the sub-national level, in seven provinces and cities – Beijing, Shanghai, Guangdong, Chongqing, Shenzhen, Hebei and Zhejiang. “The pilots are very successful,” said Minister Xie Zhenhua, the head of the Chinese delegation in Lima. “The signal of success is not carbon price, but the exploration of potential regulation and system on pilots that are in different developing levels.”
