This could be done using market-based instruments like carbon taxes or emission trading schemes. These can provide a dynamic incentive for innovation, technological change and driving private finance towards low-carbon, climate-resilient investments. These can also generate revenues to ease tight government budgets and potentially provide new sources of public funds. For example, if the Copenhagen Accord pledges and actions for Annex I countries were to be implemented as a carbon tax or a cap-and-trade scheme with fully auctioned permits, in 2020 the fiscal revenues would amount to more than USD 250 billion, i.e 0.6% of their GDP.