This communication summarizes the main findings of INASUD, an European-wide research project on integrated assessment of climate policies. The project aimed at improving the framing of climate policy analysis through the parallel use of various existing integrated assessment models. It provides a comprehensive examination of the link between uncertainty regarding damages and inertia in economic systems. Results show that the Kyoto targets and timing are consistent with the precautionary principle but offers little insurance for longerterm climate protection. Flexibility mechanisms offer potentials for cooperation with developing countries, and are necessary to tap the environmental and economic benefits of joint carbon and sulfur emissions abatement.
