Download or read book Carbon Pricing Border Adjustment and Climate Clubs written by Anne Ernst and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In a dynamic, three-region environmental multi-sector general equilibrium model (called EMuSe), we find that carbon pricing generates a recession initially as production costs rise. Benefits from lower emissions damage materialize only in the medium to long run. A border adjustment mechanism mitigates but does not prevent carbon leakage, but it “protects” dirty domestic production sectors in particular. From the perspective of a region that introduces carbon pricing, the downturn is shorter and long-run benefits are larger if more regions levy a price on emissions. However, for non-participating regions, there is no incremental incentive to participate as they forego trade spillovers from carbon leakage and face higher production costs along the transition. In the end, they may be better off not participating. Because of the costly transition, average world welfare may fall as a result of global carbon pricing unless “the rich” assist “the poor”.

Download or read book Carbon Pricing Border Adjustment and Climate Clubs written by Anne Ernst and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a dynamic, three-region environmental multi-sector general equilibrium model, we find that carbon pricing generates a recession initially as production costs rise. Benefits from lower emissions damage materialize only in the medium to long run. A border adjustment mechanism mitigates but does not prevent carbon leakage, but it "protects'' dirty domestic production sectors in particular. From the perspective of a region that introduces carbon pricing, the downturn is shorter and long-run benefits are larger if more regions levy a price on emissions. However, for non-participating regions, there is no incremental incentive to participate as they forego trade spillovers from carbon leakage and face higher production costs along the transition. In the end, they may be better off not participating. Because of the costly transition, average world welfare may fall as a result of global carbon pricing unless "the rich'' assist "the poor''

Download or read book Climate Clubs for a Sustainable Future written by Rafael Leal-Arcas and published by Kluwer Law International B.V.. This book was released on 2021-08-23 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy and Environmental Law and Policy Series #41 We know the science of climate change; we know the economics of climate change; we also know the law of climate change. However, we do not know how countries may come together to cooperate on climate change mitigation. In this connection, the role of international trade in climate change, although universally acknowledged, is not well understood. This groundbreaking book by one of the world’s foremost authorities on international economic law not only investigates this role in great depth, but also explains how free trade agreements can be used as a powerful tool to help mitigate climate change. Focusing on the idea of climate clubs—namely the coalition of the willing—among governments, companies, and/or international institutions, the book offers insightful analysis on aspects of the trade–climate linkage such as: formation of climate clubs; legitimacy and accountability; technological cooperation; green patents; how competition law hinders effective cooperation between companies seeking to produce sustainable goods; domestic policy preferences; recognizing States that should legitimately be allowed to be free riders; and sanctions for noncompliance. Three detailed case studies are included: a comparison of the U.S. and European Union (EU) Generalized System of Preferences (GSP) programs, energy security in the Arab world, and EU–Russia energy trade relations. With the author’s conviction that global access to energy, mitigating climate change, and benefit from international trade and investment all can be achieved, this book offers a fresh understanding of the international trading system as a way to reach a prosperous, modern, and sustainable society that will help decarbonize the economy effectively. It will be welcomed by all professionals and policymakers concerned with climate change mitigation, and particularly by those active at its nexus with international trade.

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 Why Carbon Border Adjustment Mechanisms Will Not Save the Planet But a Climate Club and Subsidies for Transformative Green Technologies May written by David G. Tarr and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We find that both economic theory and empirical results show that carbon border adjustment mechanisms (CBAMs) will be ineffective at meeting global carbon emissions goals. The consensus of 12 computable general equilibrium (CGE) model estimates is that CBAMs can be expected to reduce (but not eliminate) carbon leakage. However, global carbon emission goals require carbon reduction in most countries in the world, not simply the absence of carbon leakage. Our case study of the Russian Federation finds that the impact of the CBAM of the European Union will have only a small effect on Russian carbon emissions, but economy-wide carbon pricing by Russia would induce a very substantial reduction in its carbon emissions. We elaborate two complementary proposals that hold much greater promise for meeting climate goals: (i) a Climate Club; and (ii) a 0.2 percent of GDP subsidy by high-income countries for transformative research designed to make green energy cheaper than fossil fuels. We assess the advantages and disadvantages of three approaches to allowing a Climate Club within the rules of the World Trade Organization.

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 Carbon Border Adjustments Climate Clubs and Subsidy Races When Climate Policies Vary written by Kimberly A. Clausing and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jurisdictions adopt heterogeneous climate policies that vary both in terms of ambition and in terms of policy approach, with some jurisdictions pricing carbon and others subsidizing clean production. We distinguish two types of policy spillovers associated with diverse policy approaches to climate change. First, when countries have different levels of climate ambition, free-riders will benefit at the expense of more committed countries. Second, when countries pursue different approaches, carbon-intensive producers within cost-imposing jurisdictions will be at a relative competitive disadvantage compared with producers in subsidizing jurisdictions. Carbon border adjustments and climate clubs are attempts to respond to these policy spillovers, but when countries have divergent policy approaches, one policy alone will not be able to address both types of spillovers. We also consider the policy dynamics that result from carbon border adjustments and climate clubs; both have the potential to encourage upward harmonization of climate policy, but they come with risks. Further, the pressures of international competition in the presence of divergent climate policy approaches may result in subsidy races, which come with their own potential risks and benefits.

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 How Carbon Tariffs and Climate Clubs Can Slow Global Warming written by Shantayanan Devarajan and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Carbon Pricing for Energy Transition and Decarbonization written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-11-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carbon pricing is an integral element of the climate policy architecture that can help countries reduce emissions cost-effectively, achieve climate targets articulated under their nationally determined contributions, and raise ambition over time. This study provides insights on how well-designed carbon pricing instruments can be woven into climate policies to accelerate efforts toward energy transition and decarbonization. Targeted at policymakers, it aims to help countries design and implement carbon pricing instruments tailored to their national circumstances and priorities that create low-cost, sustainable energy systems capable of boosting resilience and driving long-term growth.

Download or read book Border Carbon Adjustments and Climate Clubs written by Rikard Forslid and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Carbon Pricing Growth and the Environment written by Lawrence A. Kreiser and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: ïThe scope, depth and persistence with which this book explores carbon pricing is admirable, reflecting that despite political reluctance it is a topic in all parts of the world.Í _ Mikael Skou Andersen, Aarhus University, Denmark and European Environment Agency ïEnvironmental taxation and emissions trading continue to be high on the public policy agenda in many countries, and this is another welcome and very interesting volume in the Critical Issues in Environmental Taxation series that presents new ideas and evidence on these subjects from a wide range of countries and a variety of perspectives.Í _ Paul Ekins, University College London, UK This original and timely volume provides unique insights and analysis on the pressing question of how to achieve environmental sustainability while fostering economic growth. The emphasis of the book lies in finding critical solutions to global climate change including chapters on environmental fiscal reform and unemployment in Spain, EU structural and cohesion policy and sustainable development, ecological tax reform in Europe and Asia, AustraliaÍs carbon pricing mechanism, and many other timely topics. This insightful volume will appeal to policy makers in government as well as academics and students in environmental law, environmental economics and environmental sustainability.

Download or read book Economic and Environmental Benefits from International Cooperation on Climate Policies written by Jean Chateau and published by International Monetary Fund. This book was released on 2022-03-17 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses and analyzes various international mechanisms to scale up global action on climate mitigation and address the policy gap in this area. Despite the new commitments made at COP 26, there is still an ambition and a policy gap at the global level to keep temperature increases below the 2°C agreed in Paris. Avoiding the worst outcomes of climate change requires an urgent scaling up of climate policies. Recent policy proposals include the idea of common minimum carbon prices, which underlie the IMF’s international carbon price proposal (Parry, Black, and Roaf 2021) and the climate club proposal of the German government. While global carbon prices are not a new idea, the new elements are the use of carbon price floors—which allow countries to do more if they wish—and the differentiation of carbon price floors by level of development. In the absence of international coordination, countries with ambitious climate policies are considering introducing a border carbon adjustment mechanism to prevent domestic producers from being at a competitive disadvantage due to more ambitious domestic climate policies. An interesting question from the global perspective is whether border carbon adjustment would deliver substantial additional emissions reductions or incentivize other countries to join a carbon price floor agreement.

Download or read book CARBON BORDER ADJUSTMENT MECHANISMS CARBON PRICING POLICY AND THE INFLATION REDUCTION ACT written by ALISTAIR RITCHIE. and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note is part of Quality testing.

Download or read book From Carbon Pricing to Climate Clubs written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A CO2 border Adjustment Mechanism as a Building Block of a Climate Club written by Felix Bierbrauer and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU steps up its efforts to curb its territorial CO2-emissions. It is planning to introduce a carbon border adjustment mechanism (CBAM) to level the playing field and to raise own resources. However, unilateral European climate policy action, whether shored up with a CBAM or not, can only play a limited role in reducing global CO2-emissions. A U-CBAM cannot stop indirect leakage, it has ambiguous effects on other countries' mitigation efforts, and it poses the risk of conflicts with trade partners.The EU, together with the US and other like-minded countries, should push hard to establish a climate club with a common minimum price of CO2and a common CBAM applied to third countries. Such a framework would incentivize other countries to join while limiting leakage and reducing the risk of trade policy disputes.

Download or read book Carbon related Border Adjustment and WTO Law written by Kateryna Holzer and published by Edward Elgar Publishing. This book was released on 2014-05-30 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carbon-Related Border Adjustment and WTO Law will be of great benefit to policymakers and practitioners working in the area of climate policy and trade regulation. Researchers and advanced students in international economic law and international enviro