This is an appallingly poor result by any measure, but especially on the basis of a reasonable cost/benefit analysis.It is pretty clear now, that however necessary the science of the time made a Kyoto treaty of some type seem, the politics involved made Kyoto a complete failure in terms of actual climate mitigation or impact. However, it did achieve the political goal of getting the world started on the problem. There was effectively no useful cost/benefit analysis done in preparation for the Kyoto meetings in my opinion, nor really very much more (that is believable) in all the time since.

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