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Author: E. Woerdman
Publisher: Elsevier
ISBN: 0080473067
Category : Business & Economics
Languages : en
Pages : 341
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Book Description
The objective of this book is to analyze the institutional barriers to implementing market-based climate policy, as well as to provide some opportunities to overcome them. The approach is that of institutional economics, with special emphasis on political transaction costs and path dependence. Instead of rejecting the neoclassical approach, this book uses it where fruitful and shows when and why it is necessary to employ a new or neo-institutionalist approach. The result is that equity is considered next to efficiency, that the evolution and possible lock-in of both formal and informal climate institutions are studied, and that attention is paid to the politics and law of economic instruments for climate policy, including some new empirical analyses. The research topics of this book include the set-up costs of a permit trading system, the risk that credit trading becomes locked-in, the potential legal problem of grandfathering in terms of actional subsidies under WTO law or state aid under EC law, and the changing attitudes of various European officials towards restricting the use of the Kyoto Mechanisms.
Author: E. Woerdman
Publisher: Elsevier
ISBN: 0080473067
Category : Business & Economics
Languages : en
Pages : 341
Get Book Here
Book Description
The objective of this book is to analyze the institutional barriers to implementing market-based climate policy, as well as to provide some opportunities to overcome them. The approach is that of institutional economics, with special emphasis on political transaction costs and path dependence. Instead of rejecting the neoclassical approach, this book uses it where fruitful and shows when and why it is necessary to employ a new or neo-institutionalist approach. The result is that equity is considered next to efficiency, that the evolution and possible lock-in of both formal and informal climate institutions are studied, and that attention is paid to the politics and law of economic instruments for climate policy, including some new empirical analyses. The research topics of this book include the set-up costs of a permit trading system, the risk that credit trading becomes locked-in, the potential legal problem of grandfathering in terms of actional subsidies under WTO law or state aid under EC law, and the changing attitudes of various European officials towards restricting the use of the Kyoto Mechanisms.
Author: Robert Shackleton
Publisher: Congressional Budget Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
This Congressional Budget Office (CBO) study--prepared at the request of the Ranking Member of the House Committee on Science--presents an overview of issues related to climate change, focusing primarily on its economic aspects. The study draws from numerous published sources to summarize the current state of climate science and provide a conceptual framework for addressing climate change as an economic problem. It also examines public policy options and discusses the potential complications and benefits of international coordination. In keeping with CBO's mandate to provide impartial analysis, the study makes no recommendations.
Author: Signe Krogstrup
Publisher: International Monetary Fund
ISBN: 1513511955
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
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.
Author: International Monetary Fund. Communications Department
Publisher: International Monetary Fund
ISBN: 1513513176
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
This issue of Finance & Development looks at the economic and financial impact of climate policy choices. It points to concrete solutions that offer growth opportunities, driven by technological innovation, sustainable investment, and a dynamic private sector. The private sector can stop supporting or subsidizing industries and activities that damage the planet and instead invest in sustainable development. Governments can roll out policies to fight climate change and the destruction of nature. The paper highlights that technological change and innovations are central to longer-term efforts to mitigate climate change by developing alternatives to fossil fuels. A new, sustainable financial system is under construction. It is funding the initiatives and innovations of the private sector and amplifying the effectiveness of governments’ climate policies—it could even accelerate the transition to a low-carbon economy. The Bank of England’s latest survey finds that almost three-quarters of banks are starting to treat the risks from climate change like other financial risks—rather than viewing them simply as a corporate social responsibility. Banks have begun to consider the most immediate physical risks to their business models—from the exposure of mortgage books to flood risk to the impact of extreme weather events on sovereign risk.
Author: Gareth Bryant
Publisher: Cambridge University Press
ISBN: 1108386229
Category : Political Science
Languages : en
Pages : 195
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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.
Author: Blas Luis Pérez Henríquez
Publisher: Routledge
ISBN: 1617260940
Category : Business & Economics
Languages : en
Pages : 298
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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.
Author: Nathaniel O. Keohane
Publisher: Island Press
ISBN: 1610916077
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
"A clear grasp of economics is essential to understanding why environmental problems arise and how we can address them. ... Now thoroughly revised with updated information on current environmental policy and real-world examples of market-based instruments .... The authors provide a concise yet thorough introduction to the economic theory of environmental policy and natural resource management. They begin with an overview of environmental economics before exploring topics including cost-benefit analysis, market failures and successes, and economic growth and sustainability. Readers of the first edition will notice new analysis of cost estimation as well as specific market instruments, including municipal water pricing and waste disposal. Particular attention is paid to behavioral economics and cap-and-trade programs for carbon."--Publisher's web site.
Author: Matthew J. Kotchen
Publisher: University of Chicago Press
ISBN: 0226821749
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
This volume presents six new papers on environmental and energy economics and policy in the United States. Rebecca Davis, J. Scott Holladay, and Charles Sims analyze recent trends in and forecasts of coal-fired power plant retirements with and without new climate policy. Severin Borenstein and James Bushnell examine the efficiency of pricing for electricity, natural gas, and gasoline. James Archsmith, Erich Muehlegger, and David Rapson provide a prospective analysis of future pathways for electric vehicle adoption. Kenneth Gillingham considers the consequences of such pathways for the design of fuel vehicle economy standards. Frank Wolak investigates the long-term resource adequacy in wholesale electricity markets with significant intermittent renewables. Finally, Barbara Annicchiarico, Stefano Carattini, Carolyn Fischer, and Garth Heutel review the state of research on the interactions between business cycles and environmental policy.
Author: Stuart P. M. Mackintosh
Publisher: Routledge
ISBN: 1000441768
Category : Political Science
Languages : en
Pages : 248
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Book Description
Climate Crisis Economics draws on economics, political economy, scientific literature, and data to gauge the extent to which our various communities – political, economic, business – are making the essential leap to a new narrative and policy approach that will accelerate us towards the necessary transition to a decarbonized economy and sustainable future. The book draws out policies and practices with both national and local examples, which will demonstrate various complementary approaches that are empowering states and people as they seek to pursue the carbon neutral goal. The author delineates a climate crisis economics approach that is fit for purpose and which can help achieve necessary climate change goals in the decades ahead. Ensuring economic and ecological sustainability is neither easy nor cost-free; there is no single solution to the climate crisis. All aspects of our economies, policies, business, and personal practices must come into alignment in order to succeed. Frustratingly, we know what is needed and we have many of the technologies and systems to make the leap to a carbon neutral economy, yet we still fail to act with alacrity. Leaders, communities, and businesses must shift their narratives in how they talk about and think about the climate crisis. In doing so, in making the narrative leap to a new understanding about what is possible and necessary, we can stop endangering our common future and single, fragile, global habitat, and instead set the stage for Green Globalisation 2.0 and a new, sustainable industrial revolution. Climate Crisis Economics will appeal to academics, students, investors, and professionals from varying disciplines including politics, international political economy, and international economics. Written in an accessible voice, it draws on work in fields outside of and in addition to politics and economics to make a case for climate crisis economics as an approach to addressing the climate change challenge ahead. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. Thanks to the support of libraries working with Knowledge Unlatched www.knowledgeunlatched.org
Author: Stephen Ansolabehere
Publisher: MIT Press
ISBN: 0262321076
Category : Science
Languages : en
Pages : 273
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Book Description
How Americans make energy choices, why they think locally (not globally), and how this can shape U.S. energy and climate change policy. How do Americans think about energy? Is the debate over fossil fuels highly partisan and ideological? Does public opinion about fossil fuels and alternative energies divide along the fault between red states and blue states? And how much do concerns about climate change weigh on their opinions? In Cheap and Clean, Stephen Ansolabehere and David Konisky show that Americans are more pragmatic than ideological in their opinions about energy alternatives, more unified than divided about their main concerns, and more local than global in their approach to energy. Drawing on extensive surveys they designed and conducted over the course of a decade (in conjunction with MIT's Energy Initiative), Ansolabehere and Konisky report that beliefs about the costs and environmental harms associated with particular fuels drive public opinions about energy. People approach energy choices as consumers, and what is most important to them is simply that energy be cheap and clean. Most of us want energy at low economic cost and with little social cost (that is, minimal health risk from pollution). The authors also find that although environmental concerns weigh heavily in people's energy preferences, these concerns are local and not global. Worries about global warming are less pressing to most than worries about their own city's smog and toxic waste. With this in mind, Ansolabehere and Konisky argue for policies that target both local pollutants and carbon emissions (the main source of global warming). The local and immediate nature of people's energy concerns can be the starting point for a new approach to energy and climate change policy.
