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The pace at which greenhouse emissions are rising together with the strengthening scientific consensus that emissions must be dramatically reduced mean that the recently implemented Kyoto Protocol is already obsolete; the fulfillment of all Kyoto obligations will reduce global emissions only minimally. The U.S.--the world's biggest emitter--and future emissions giants including China and India must be brought into a substantial emissions-limitation regime within a very short time. Unless their legitimate needs for development are addressed, developing countries have little incentive to participate in such a regime. Climate-equity NGOs argue that global emissions trading on the basis of per capita (or per capita plus) allowances, which would give large numbers of saleable permits to the world's low-emission majority, could supply the incentive for developing-country participation and counter the U.S. argument about 'unfair favorable treatment' for developing countries under the Kyoto regime. Such a strategy would represent a dramatic departure from the 'grandfathered' Kyoto emissions allowances, which base reductions requirements on 1990 emissions and thus help to 'lock in' the position of developed countries. In this paper, I evaluate the potential of "climate equity" per capita and per capita plus regime proposals to attract developed and developing countries, and to achieve their stated goals of climate adequacy and equity in the present growth-oriented global political economy. ..PAT.-Conference Proceeding [ABSTRACT FROM AUTHOR]