Emissions Trading for Climate Policy


Book Description

The 1997 Kyoto Conference introduced emissions trading as a policy instrument for climate protection. Bringing together scholars in the fields of economics, political science and law, this book, which was originally published in 2005, provides a description, analysis and evaluation of different aspects of emissions trading as an instrument to control greenhouse gases. The authors analyse theoretical aspects of regulatory instruments for climate policy, provide an overview of US experience with market-based instruments, draw lessons from trading schemes for the control of greenhouse gases, and discuss options for emissions trading in climate policy. They also highlight the background of climate policy and instrument choice in the US and Europe and the foundation of systems in Europe, particularly the EU's directive for a CO2 emissions trading system.




Making Climate Policy Work


Book Description

For decades, the world’s governments have struggled to move from talk to action on climate. Many now hope that growing public concern will lead to greater policy ambition, but the most widely promoted strategy to address the climate crisis – the use of market-based programs – hasn’t been working and isn’t ready to scale. Danny Cullenward and David Victor show how the politics of creating and maintaining market-based policies render them ineffective nearly everywhere they have been applied. Reforms can help around the margins, but markets’ problems are structural and won’t disappear with increasing demand for climate solutions. Facing that reality requires relying more heavily on smart regulation and industrial policy – government-led strategies – to catalyze the transformation that markets promise, but rarely deliver.




Carbon Markets in a Climate-Changing Capitalism


Book Description

The promise of harnessing market forces to combat climate change has been unsettled by low carbon prices, financial losses, and ongoing controversies in global carbon markets. And yet governments around the world remain committed to market-based solutions to bring down greenhouse gas emissions. This book discusses what went wrong with the marketisation of climate change and what this means for the future of action on climate change. The book explores the co-production of capitalism and climate change by developing new understandings of relationships between the appropriation, commodification and capitalisation of nature. The book reveals contradictions in carbon markets for addressing climate change as a socio-ecological, economic and political crisis, and points towards more targeted and democratic policies to combat climate change. This book will appeal to students, researchers, policy makers and campaigners who are interested in climate change and climate policy, and the political economy of capitalism and the environment.




The Trade and Climate Change Nexus


Book Description

While trade exacerbates climate change, it is also a central part of the solution because it has the potential to enhance mitigation and adaptation. This timely report explores the different ways in which trade and climate change intersect. Trade contributes to the emissions that cause global warming and is itself also affected by climate change through changing comparative advantages. The report also confronts several myths concerning trade and climate change. The Trade and Climate Change Nexus: The Urgency and Opportunities for Developing Countries focuses on the impacts of, and adjustments to, climate change in developing countries and on how future trade opportunities will be affected by both the changing climate and the policy responses to address it. The report discusses how trade can provide the goods and services that drive mitigation and adaptation. It also addresses how climate change creates immense challenges for developing countries, but also new opportunities to promote trade diversification in the transition to a low-carbon world. Suitable trade and environmental policies can offer effective economic incentives to attain both sustainable growth and poverty reduction.




The Design and Implementation of US Climate Policy


Book Description

"This book contains the proceedings of an NBER conference held in Washington, DC, on May 13-14, 2010"--Page xi.




Environmental Commodities Markets and Emissions Trading


Book Description

Market-based solutions to environmental problems offer great promise, but require complex public policies that take into account the many institutional factors necessary for the market to work and that guard against the social forces that can derail good public policies. Using insights about markets from the new institutional economics, this book sheds light on the institutional history of the emissions trading concept as it has evolved across different contexts. It makes accessible the policy design and practical implementation aspects of a key tool for fighting climate change: emissions trading systems (ETS) for environmental control. Blas Luis Pérez Henríquez analyzes past market-based environmental programs to extract lessons for the future of ETS. He follows the development of the emissions trading concept as it evolved in the United States and was later applied in the multinational European Emissions Trading System and in sub-national programs in the United States such as the Regional Greenhouse Gas Initiative (RGGI) and California's ETS. This ex-post evaluation of an ETS as it evolves in real time in the real world provides a valuable supplement to what is already known from theoretical arguments and simulation studies about the advantages and disadvantages of the market strategy. Political cycles and political debate over the use of markets for environmental control make any form of climate policy extremely contentious. Pérez Henríquez argues that, despite ideological disagreements, the ETS approach, or, more popularly, 'cap-and-trade' policy design, remains the best hope for a cost-effective policy to reduce GHG emissions around the world.




Global Carbon Pricing


Book Description

Why the traditional “pledge and review” climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed. After twenty-five years of failure, climate negotiations continue to use a “pledge and review” approach: countries pledge (almost anything), subject to (unenforced) review. This approach ignores everything we know about human cooperation. In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others. They show that a “common commitment” scheme is more effective than an “individual commitment” scheme; the latter depends on altruism while the former involves reciprocity (“we will if you will”). The contributors propose that global carbon pricing is the best candidate for a reciprocal common commitment in climate negotiations. Each country would commit to placing charges on carbon emissions sufficient to match an agreed global price formula. The contributors show that carbon pricing would facilitate negotiations and enforcement, improve efficiency and flexibility, and make other climate policies more effective. Additionally, they analyze the failings of the 2015 Paris climate conference. Contributors Richard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Éloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E. Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman




OECD Series on Carbon Pricing and Energy Taxation Effective Carbon Rates 2021 Pricing Carbon Emissions through Taxes and Emissions Trading


Book Description

Carbon pricing very effectively encourages the shift of production and consumption choices towards low and zero carbon options that is required to limit climate change. Are countries using this tool to its full potential? This report measures the pricing of CO2-emissions from energy use in 44 OECD and G20 countries, covering around 80% of world emissions.




Climate Change and Carbon Markets


Book Description

Climate change is an environmental problem of unprecedented complexity, not just in terms of its physical, social, economic and political impacts, but particularly in terms of the range of policy instruments being designed by countries to reduce greenhouse gas emissions. Climate Change and Carbon Markets aims to provide an accessible and practical guide to cutting edge market-based mechanisms which will reduce greenhouse gas emissions. This book is a guide for national and international policy-makers and industry professionals, who need to understand the carbon markets established pursuant to the Kyoto Protocol, one of the most complex agreements ever negotiated. The book sets out how carbon markets will function by explaining the rules, institutions and procedures of the Kyoto mechanisms, including: emissions trading, joint implementation (JI) and the Clean Development Mechanism (CDM). It also provides an in-depth explanation of the EU Emissions Allowance Trading Scheme, emerging mechanisms in the US and developing countries, and how these will link up. For policy-makers, researchers and scholars; industry practitioners, companies, market service providers, technical and legal consultants, NGOs and all stakeholder organizations engaged in the Kyoto markets, this is the authoritative and comprehensive practical guide to this rapidly evolving area. Contains the full text of the key European Union documents setting up the EU Emissions Allowance Trading Scheme and the Linking Directive.




Carbon Captured


Book Description

A comparative examination of domestic climate politics that offers a theory for cross-national differences in domestic climate policymaking. Climate change threatens the planet, and yet policy responses have varied widely across nations. Some countries have undertaken ambitious programs to stave off climate disaster, others have done little, and still others have passed policies that were later rolled back. In this book, Matto Mildenberger opens the “black box” of domestic climate politics, examining policy making trajectories in several countries and offering a theoretical explanation for national differences in the climate policy process. Mildenberger introduces the concept of double representation—when carbon polluters enjoy political representation on both the left (through industrial unions fearful of job loss) and the right (through industrial business associations fighting policy costs)—and argues that different climate policy approaches can be explained by the interaction of climate policy preferences and domestic institutions. He illustrates his theory with detailed histories of climate politics in Norway, the United States, and Australia, along with briefer discussions of policies in in Germany, Japan, the United Kingdom, and Canada. He shows that Norway systematically shielded politically connected industrial polluters from costs beginning with its pioneering carbon tax; the United States, after the failure of carbon reduction legislation, finally acted on climate reform through a series of Obama administration executive actions; and Australia's Labor and Green parties enacted an emissions trading scheme, which was subsequently repealed by a conservative Liberal party government. Ultimately, Mildenberger argues for the importance of political considerations in understanding the climate policymaking process and discusses possible future policy directions.