Download or read book How Much Carbon Pricing is in Countries Own Interests The Critical Role of Co Benefits written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2014-09-17 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO2) emissions is in their own national interests due to domestic co-benefits (leaving aside the global climate benefits). On average, nationally efficient prices are substantial, $57.5 per ton of CO2 (for year 2010), reflecting primarily health co-benefits from reduced air pollution at coal plants and, in some cases, reductions in automobile externalities (net of fuel taxes/subsidies). Pricing co-benefits reduces CO2 emissions from the top twenty emitters by 13.5 percent (a 10.8 percent reduction in global emissions). However, co-benefits vary dramatically across countries (e.g., with population exposure to pollution) and differentiated pricing of CO2 emissions therefore yields higher net benefits (by 23 percent) than uniform pricing. Importantly, the efficiency case for pricing carbon’s co-benefits hinges critically on (i) weak prospects for internalizing other externalities through other pricing instruments and (ii) productive use of carbon pricing revenues.

Download or read book How Much Carbon Pricing is in Countries Own Interests The Critical Role of Co Benefits written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2014-09-17 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO2) emissions is in their own national interests due to domestic co-benefits (leaving aside the global climate benefits). On average, nationally efficient prices are substantial, $57.5 per ton of CO2 (for year 2010), reflecting primarily health co-benefits from reduced air pollution at coal plants and, in some cases, reductions in automobile externalities (net of fuel taxes/subsidies). Pricing co-benefits reduces CO2 emissions from the top twenty emitters by 13.5 percent (a 10.8 percent reduction in global emissions). However, co-benefits vary dramatically across countries (e.g., with population exposure to pollution) and differentiated pricing of CO2 emissions therefore yields higher net benefits (by 23 percent) than uniform pricing. Importantly, the efficiency case for pricing carbon’s co-benefits hinges critically on (i) weak prospects for internalizing other externalities through other pricing instruments and (ii) productive use of carbon pricing revenues.

Download or read book Global Carbon Pricing written by Peter Cramton and published by MIT Press. This book was released on 2017-06-16 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Macroeconomic and Financial Policies for Climate Change Mitigation A Review of the Literature written by Signe Krogstrup and published by International Monetary Fund. This book was released on 2019-09-04 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.

Download or read book Carbon Pricing for Green Recovery and Growth written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-11-01 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carbon pricing is a key element of the broader climate policy architecture that can help countries reduce their greenhouse gas (GHG) emissions cost-effectively, while mobilizing fiscal resources to foster green recovery and growth. This publication introduces carbon pricing instruments and provides insights on how they can be designed to stimulate and not constrain economic activity in the context of recovery from the coronavirus disease (COVID-19) pandemic. It aims to help countries design and implement an efficient climate change response. The publication underscores the important role of carbon pricing in achieving nationally determined contributions and developing road maps for longer-term net-zero GHG emission targets.

Download or read book China s Sustainability Transitions written by Ali Cheshmehzangi and published by Springer Nature. This book was released on 2021-05-26 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the impact of global climate change, advocating to promote sustainable development from the perspective of low carbon and climate resilience, by reducing carbon emissions in different aspects of urban and regional development. As the world's largest emitter of carbon dioxide, China is continuously exploring a sustainable path to achieve the momentous goal of 2060 carbon neutrality. In addition, this book reviews and summarizes China's green development and predicts the transformation of China's carbon emission and energy structure before and after the peak of carbon emission in 2030. It examines the role of governance in decarbonization efforts, focusing on decision making processes, policies and regulations, as well as the significance of regions, cities, and communities. This book highlights typical methods of implementing and achieving low carbon development in light of China's practical situation, which helps to resolve some of the problems that may arise in achieving the carbon neutral goal. Therefore, this book is suitable for the reference of scholars in low-carbon environment science, sustainable urban development, and other related fields. It also provides inspiration for China's medium and long-term sustainable development plans in the future.

Download or read book Getting Energy Prices Right written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2014-07-22 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy taxes can produce substantial environmental and revenue benefits and are an important component of countries’ fiscal systems. Although the principle that these taxes should reflect global warming, air pollution, road congestion, and other adverse environmental impacts of energy use is well established, there has been little previous work providing guidance on how countries can put this principle into practice. This book develops a practical methodology, and associated tools, to show how the major environmental damages from energy can be quantified for different countries and used to design the efficient set of energy taxes.

Download or read book Canada s Carbon Price Floor written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2018-03-08 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pan-Canadian approach to carbon pricing, announced in October 2016, ensures that carbon pricing applies throughout Canada in 2018, with increasing stringency over time to reduce emissions. Canadian provinces and territories have the flexibility to either implement an explicit price-based system—with a minimum price of CAN $10 per tonne of carbon dioxide equivalent in 2018, increasing to CAN $50 per tonne by 2022—or an equivalently scaled emissions trading system. This paper discusses the rationale for, and design of, the price floor requirement; its (provincial-level) environmental, fiscal, and economic welfare impacts; monitoring issues; and (national-level) incidence. The general conclusion is that the welfare costs and implementation issues are manageable, and pricing provides significant new revenues. A challenge is that the floor price by itself appears well short of what will be needed by 2030 for Canada’s Paris Agreement pledge.

Download or read book State and Trends of Carbon Pricing 2015 written by Alexandre Kossoy and published by World Bank Publications. This book was released on 2015 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report is a one stop shop for learning about key developments and prospects of existing and emerging carbon initiatives. A challenging international carbon market has not stopped the development of domestic carbon pricing initiatives. Today, about 40 national and over 20 sub-national jurisdictions responsible for almost one fourth of global greenhouse gas emissions are putting a price on carbon. Together, these initiatives cover the equivalent of almost 6 gigatons of carbon dioxide, or about 12% of global emissions.--Résumé de l'éditeur.

Download or read book Carbon Pricing What Role for Border Carbon Adjustments written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2021-09-27 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Climate Note discusses the rationale, design, and impacts of border carbon adjustments (BCAs), charges on embodied carbon in imports potentially matched by rebates for embodied carbon in exports. Large disparities in carbon pricing between countries is raising concerns about competitiveness and emissions leakage, and BCAs are a potentially effective instrument for addressing such concerns. Design details are critical, however. For example, limiting coverage of the BCA to energy-intensive, trade-exposed industries facilitates administration, and initially benchmarking BCAs on domestic emissions intensities would help ease the transition for emissions-intensive trading partners. It is also important to consider how to apply BCAs across countries with different approaches to emissions mitigation. BCAs are challenging because they pose legal risks and may be at odds with the differentiated responsibilities of developing countries. Furthermore, BCAs provide only modest incentives for other large emitting countries to scale carbon pricing—an international carbon price floor would be far more effective in this regard.

Download or read book Climate Change Public Health and the Law written by Michael Burger and published by Cambridge University Press. This book was released on 2018-10-25 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate Change, Public Health, and the Law provides the first comprehensive explication of the dynamic interactions between climate change, public health law, and environmental law, both in the United States and internationally. Responding to climate change and achieving public health protections each require the coordination of the decisions and behavior of large numbers of people. However, they also involve interventions that risk compromising individual rights. The challenges involved in coordinating large-scale responses to public health threats and protecting against the invasion of rights, makes the law indispensable to both of these agendas. Written for the benefit of public health and environmental law professionals and policymakers in the United States and in the international public health sector, this volume focuses on the legal components of pursuing public health goals in the midst of a changing climate. It will help facilitate efforts to develop, improve, and carry out policy responses at the international, federal, state, and local levels.

Download or read book The IMF World Bank Climate Policy Assessment Tool CPAT A Model to Help Countries Mitigate Climate Change written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2023-06-23 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: To stabilize the climate, global greenhouse gas emissions must be cut by 25 to 50 percent by 2030 compared to 2019. Such an unprecedented rate of decarbonization necessitates climate mitigation policies across countries, notably carbon pricing, fossil fuel subsidy reform, renewable subsidies, feebates, emission rate regulations, and public investments. To design and implement effective, efficient, and equitable policies, governments need tools to assess economic, environmental, fiscal, and social impacts. To support this effort, the IMF and World Bank are making their joint Climate Policy Assessment Tool (CPAT) available to governments. CPAT is a transparent, flexible, and user-friendly model covering over 200 countries. It allows for the rapid quantification of impacts of climate mitigation policies, including on energy demand, prices, emissions, revenues, welfare, GDP, households and industries, local air pollution and health, and many other metrics. This paper describes the CPAT model, its data sources, key assumptions, and caveats.

Download or read book Mitigation Policies for the Paris Agreement An Assessment for G20 Countries written by Ian Parry and published by International Monetary Fund. This book was released on 2018-08-30 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following submission of greenhouse gas (GHG) mitigation commitments or pledges (by 190 countries) for the 2015 Paris Agreement, policymakers are considering specific actions for their implementation. To help guide policy, it is helpful to have a quantitative framework for understanding: i) the main impacts (on GHGs, fiscal balances, the domestic environment, economic welfare, and distributional incidence) of emissions pricing; ii) trade-offs between pricing and other (commonly used) mitigation instruments; and iii) why/to what extent needed policies and their impacts differ across countries. This paper provides an illustrative sense of this information for G20 member countries (which account for about 80 percent of global emissions) under plausible (though inevitably uncertain) projections for future fuel use and price responsiveness. Quantitative results underscore the generally strong case for (comprehensive) pricing over other instruments, its small net costs or often net benefits (when domestic environmental gains are considered), but also the potentially wide dispersion (and hence inefficiency) in emissions prices implied by countries’ mitigation commitments.

Download or read book Canada s Carbon Price Floor written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2018-03-08 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pan-Canadian approach to carbon pricing, announced in October 2016, ensures that carbon pricing applies throughout Canada in 2018, with increasing stringency over time to reduce emissions. Canadian provinces and territories have the flexibility to either implement an explicit price-based system—with a minimum price of CAN $10 per tonne of carbon dioxide equivalent in 2018, increasing to CAN $50 per tonne by 2022—or an equivalently scaled emissions trading system. This paper discusses the rationale for, and design of, the price floor requirement; its (provincial-level) environmental, fiscal, and economic welfare impacts; monitoring issues; and (national-level) incidence. The general conclusion is that the welfare costs and implementation issues are manageable, and pricing provides significant new revenues. A challenge is that the floor price by itself appears well short of what will be needed by 2030 for Canada’s Paris Agreement pledge.

Download or read book Energy Tax and Regulatory Policy in Europe written by Ian Parry and published by MIT Press. This book was released on 2017-09-15 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concise introductions to the main issues in energy policy and their interaction with environmental policies in the EU. The European Union (EU) faces critical challenges in energy policy making, the most pressing of which are how to achieve the deep greenhouse gas reductions promised at the December 2015 UN Conference of the Parties in Paris, and how this effort can be coordinated with already existing policies. Energy policy is primarily a member state responsibility, and policy makers need an overarching view of the main issues in energy policy and their interaction with environmental policies. This volume aims to fill this need, offering concise introductions to some of the major issues as well as practical suggestions for policy making. The contributors discuss reforms to the EU Emissions Trading System (ETS), the world's largest carbon market; ways to improve the operation and integration of the EU's power grids, in terms of both supply and demand; changes to the EU's Energy Tax Directive, which sets tax floors for fuels outside the ETS; the coordination of climate policies with policies to promote renewables and energy efficiency; research into clean technology; challenges to shale gas development; and transportation policy and the need for action on such externalities as traffic congestion. Finally, contributors consider obstacles to reform, including its potential effects on vulnerable households and energy-intensive industries. Contributors Mikael Skou Andersen, Niels Anger, Bruno De Borger, Antoine Dechezleprêtre, Jos Delbeke, Ottmar Edenhofer, Christian Flachsland, Beatriz Gaitan, Polona Gregorin, Cameron Hepburn, Alan Krupnick, Andreas Löschel, Claudio Marcantonini, Felix Christian Matthes, Paul Nahmmacher, Ian Parry, Karen Pittel, David Popp, Stef Proost, Christina Roolfs, Bert Saveyn, Oliver Schenker, Stephen Smith, Alexander Teytelboym, Kurt Van Dender, Herman Vollebergh, Nils-Henrik M. von der Fehr, Zhongmin Wang, Georg Zachmann

Download or read book Economics for People and the Planet written by James Boyce and published by Anthem Press. This book was released on 2019-01-16 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics for People and the Planet, a collection of essays by James K. Boyce on the environment, inequality and the economy, argues that there is not an inexorable trade-off between advancing human well-being and having a clean and safe environment. The goal of economic policy should be to grow the good things that improve our well-being and environmental quality and reduce the bad things that harm humans and nature. To reorient the economy for these ends, we will need to achieve a more egalitarian distribution of wealth and power. Global climate change – the most pressing environmental challenge of our time – adds urgency to this task and creates historic opportunities for moving towards a greener future.

Download or read book The Era of Global Risk written by SJ Beard and published by Open Book Publishers. This book was released on 2023-08-23 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative and comprehensive collection of essays explores the biggest threats facing humanity in the 21st century; threats that cannot be contained or controlled and that have the potential to bring about human extinction and civilization collapse. Bringing together experts from many disciplines, it provides an accessible survey of what we know about these threats, how we can understand them better, and most importantly what can be done to manage them effectively. These essays pair insights from decades of research and activism around global risk with the latest academic findings from the emerging field of Existential Risk Studies. Voicing the work of world leading experts and tackling a variety of vital issues, they weigh up the demands of natural systems with political pressures and technological advances to build an empowering vision of how we can safeguard humanity’s long-term future. The book covers both a comprehensive survey of how to study and manage global risks with in-depth discussion of core risk drivers: including environmental breakdown, novel technologies, global scale natural disasters, and nuclear threats. The Era of Global Risk offers a thorough analysis of the most serious dangers to humanity. Inspiring, accessible, and essential reading for both students of global risk and those committed to its mitigation, this book poses one critical question: how can we make sense of this era of global risk and move beyond it to an era of global safety?