This paper deals with global mitigation strategy. More specifically the main purpose is to address the question of whether growth in the developing world is consistent with long?run climate change objectives. The first part of this paper lays out time paths for emissions for countries in various categories.

Grim descriptions of the long?term consequences of climate change have given the impression that the climate impacts from greenhouse gases threaten longterm economic growth. However, the impact of climate change on the global economy is likely to be quite small over the next 50 years. Severe impacts even by the end of the century are unlikely.