Recognizing the substantial costs involved in addressing climate change through both mitigation and adaptation measures, the Paris Agreement stipulates that developed countries provide at least $100 billion a year in climate financing to developing countries, and support their transition to lower-carbon economies through international cooperation. One avenue for such cooperation is to link carbon markets—emissions trading systems that put a cap on carbon—in developed and developing regions.

UROP student Kirby Ledvina studies effects of carbon pricing and expanded irrigation on biofuel production