By Carlo Carraro (auth.), Carlo Carraro (eds.)
Efficiency and fairness of weather swap Policy is a accomplished evaluation of the commercial results of weather switch coverage, addressing the problems with a quantitative modelling technique. The publication therefore is going past the standard statements at the potency of financial tools to spot the way in which earnings and losses are disbursed; who earnings and who loses. either the prices and merits of weather switch guidelines are analyzed. such a lot papers additionally supply important details at the fiscal positive factors of the Kyoto Protocol, its attainable extensions, and the impression of other implementation recommendations (such because the debate on emissions buying and selling ceilings).
Readership: Scientists and coverage makers, scholars and experts in weather comparable industries, contributors of NGOs, and coverage advisors.
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Extra info for Efficiency and Equity of Climate Change Policy
Indeed, it raises at least as many questions as it resolves. These questions fall into two categories: those related to the near-term implementation of the Protocol and those related to the evolution of climate policy over the longer term. 43 C. ), Efficiency and Equity of Climate Change Policy, 43-6J. © 1999 Energy Journal. Previously published in a special issue of Energy Journal entitled "The Costs of the Kyoto Protocol: A Multi-Model Evaluation", 1999. 44 Chapter 3 The Protocol is unclear on a number of topics.
31 And while advocates of this policy run the risk of being dubbed irrelevant to the process, the moderate reduction baseline calls for an emissions path that peaks around 2020 and would result in essentially the same concentration level in 2100 as Kyoto, at a fraction of the cost. Implementation of this benchmark would require an initial, modest increase in the price of carbon emissions, and a credible commitment to increase the price over time. Shifting emissions reductions into the future allows time for a gradual adaptation of the energy capital stock, developing low-cost and low-carbon technology substitutes, removing carbon from the atmosphere via the carbon cycle, and, since the economy yields a positive return on capital, future reductions can be made with a smaller commitment of today's resources.
See for example Stavins, R, The costs of carbon sequestration: a revealed-preference approach. American Economic Review. 1999;89:994-1009. 56. Discussion with Brent Sohngen, Ohio State University, August 1998. 57. , R. Prinn and R Schmalensee, Kyoto's unfinished business. Foreign Affairs. July/August 1998;54-66. 58. , Reducing carbon emissions: interactions with the tax system raise costs. Resources. Summer 1997;128:9-12. 59. Europe Union Starts planning strategy to stress domestic action under Kyoto Pact.
Efficiency and Equity of Climate Change Policy by Carlo Carraro (auth.), Carlo Carraro (eds.)