Certified emissions reductions and CDM limits: revenue and distributional aspects     

Alexander Vasa 《Climate Policy》2013,13(6):645-666

The EU allows those installations that are subject to emissions trading to use a limited volume of certified emissions reductions (CERs), generated through the Clean Development Mechanism (CDM), to cover their own GHG emissions. These CERs can be used in addition to the EU allowances (EUAs), which were primarily allocated free to installations in Phase II of the EU Emissions Trading Scheme (EU ETS) from 2008 to 2012. For the year 2008, the CER limits, which are differentiated by EU Member State, created substantial arbitrage rents (due to the CER-EUA spread) of approximately EU€250 million. Different options for the allocation of this rent are discussed and it is found that, according to economic theory, making the right to use CERs tradable or the regulator pre-committing to buying CERs at the level of the relevant limit reduces the inefficiencies connected to the current regulation. Furthermore, auctioning these CER usage rights shifts the rents created through the CER-EUA spread to the Member State itself. The improved design and implementation of CDM limits justifies EU policy makers intervening to correct previously competition-distorting choices.  相似文献   

Effects of economic recession and local weather on climate change attitudes     

Robert Y. Shum 《Climate Policy》2013,13(1):38-49

How are large companies responding to the challenges of reducing their greenhouse gas (GHG) emissions? An analysis of the published climate change policies and performance of 125 large European companies is presented. The results suggest that most large European companies have now developed the management systems and processes necessary for them to effectively manage their GHG emissions and related business risks. However, there is a significant disconnect between the targets that companies set for themselves and the more ambitious targets being set by the European Union (which has committed to a 20% reduction in its emissions by 2020 against a 1990 baseline). Of the companies surveyed, just over one-third had stabilized or reduced their total GHG emissions over the period 2002–2007, and fewer than one-third expected their emissions to stabilize or reduce in the coming years. The relationship between the quality of corporate policies and performance outcomes (in terms of GHG emissions) suggests that while companies with stronger policies are likely to have relatively better performance, only a minority of those companies with the highest-quality policies are committing to absolute reductions in their GHG emissions.  相似文献   

Living with limits: growth,resources, and climate change     

Martin Wolf 《Climate Policy》2013,13(6):772-783

Is it possible for all of humanity to enjoy the standards of living of today's high-income countries? What would happen if these limits were reached, perhaps because of climate change or a shortage of natural resources essential to production? How would society manage – or fail to manage – such limits? Notwithstanding the current financial and economic crises, these are perhaps the biggest questions confronting our species (and of a host of other species, who are the victims of our decisions). The article begins by considering the biggest economic event of our lifetimes – the ‘great convergence’ and its implications for the demand for resources. The discussion then turns to a specific limit on our development, climate change, which is different from most other limits, because it involves a global public good: the atmosphere. What such limits might mean for our civilization is discussed. One can persuade people to tackle climate change only if those concerned with the dangers persuade ordinary people that action will not come at the expense of their prosperity.  相似文献   

Commitments through financial options: an alternative for delivering climate change obligations     

《Climate Policy》2013,13(1):9-21

Governments willing to commit themselves to maintain carbon prices at or above a certain level face the challenge that their commitments need to be credible both for investors in low-carbon technology and for foreign governments. This article argues that governments can make such commitments by issuing long-term put option contracts on the price of CO₂ allowances. This mechanism gives investors the right, but not the obligation, to sell allowances to the government at the strike price. From the investors' point of view, a government is therefore fully committed to a price floor for allowances in the future. This proposed approach alters the incentives that a government faces when considering noncompliance and serves to prevent non-compliance. The proposal fares well when assessed against criteria to determine its suitability in legitimacy, enforcement, proportionality, lack of interference from other contracting States, and transparency. It also allows for fine-tuning through the number and duration of issued options and the strike price. A robust contract structure is proposed to protect against government interference that might threaten the credibility of commitments.  相似文献   

The population structural transition effect on rising per capita CO2 emissions: evidence from China     

Junfeng Wang  Yaqing Wu  Yue Zhao  Shutong He  Zhanfeng Dong  Wenguang Bo 《Climate Policy》2013,13(10):1250-1269

ABSTRACT

The per capita CO₂ emissions (PCCE) of many developing countries like China have been rising faster than total CO₂ emissions, and display spatial divergence. Such temporal growth and spatial divergence will have a significant influence on efforts to mitigate CO₂ emissions. Given the research gap on the impact of the structural transition in population on PCCE, we constructed an econometric model using the dynamic panel method. The results reveal that the population structural transition has a significant nonlinear impact on PCCE, as the rate of population growth in China decelerates. Both demographic ageing and urban-rural migration have a stronger impact on PCCE than other factors. This effect, however, decreases beyond a certain threshold. An increase in the number of households due to urbanization and family downsizing has resulted in a positive effect on PCCE, without a threshold turning point. The research also finds that an increased share of the service sector in employment can reduce PCCE only if the sector employs more than 31.56% of the total employed population. Overall, these findings indicate that policymakers should pay attention to the prominence of the demographic structural transition for effective climate policy.

Key policy insights

• Policymakers should address rising per capita carbon emissions (PCCE) and their spatial divergence in future climate policies, not just total CO₂ emissions.

• The transitioning demographics of ageing and urbanization in China show a nonlinear, inverted U-shaped effect on PCCE instead of a continuously positive effect.

• Based on the nonlinear effect of employment structure on PCCE, policymakers should focus on the relationship between the structural transition of the economy and PCCE in future climate mitigation policies.

  相似文献   

Korea’s approach to overcoming difficulties in adopting the emission trading scheme     

Hyungna Oh  Jin-Oh Kim 《Climate Policy》2013,13(8):947-961

In this study, we aim to describe the background for design characteristics of emissions trading schemes (ETS) in developing and emerging economies, with a particular focus on the case of Korea. These countries may face unique hardships such as fierce opposition from industry sectors, the presence of a power imbalance between the Ministry of Environment (MOE) and ministries that are in charge of supporting output growth, and the absence or incomplete development of financial markets and auctioning mechanisms. To overcome these hardships, the Korean government legislated laws that defined timelines for every stage of ETS development, established a strategic governance architecture to make up the weak position of the MOE, offered strong market-stabilizing measures focused on maintaining the allowance price below a certain level, and provided support packages to make the low-carbon transition easy by compensating for losses caused by the Korea Emissions Trading Scheme (KETS). Such policy instruments that made adoption of KETS easier could be obstacles to making it efficient.

Policy relevance

In the process of adopting a cap-and-trade system, both a developing economy and an emerging economy may face unique hardships, such as strong opposition from industry sectors, the presence of a power imbalance between the Ministry of Environment (MOE) and ministries that are in charge of supporting output growth, and the absence or incomplete development of financial markets and auctioning mechanisms. To make up for the weak base of Korea’s ETS, the government legislated laws that defined timelines for every stage of the ETS development, established a strategic governance architecture to make up for the weak position of the MOE, offered strong market-stabilizing measures focused on maintaining the allowance price below a certain level, and provided support packages to make the low-carbon transition easy by compensating for losses caused by the Korea’s ETS. Korea’s experiences can be shared with other developing economies that are considering adoption of a cap-and-trade scheme.  相似文献   

The design of California's cap-and-trade and its impact on electricity markets     

《Climate Policy》2013,13(3):277-292

California is considering the adoption of a cap-and-trade regulatory mechanism for regulating the greenhouse gas emissions from electricity and perhaps other industries. Two options have been widely discussed for implementing cap-and-trade in the electricity industry. The first is to regulate the emissions from electricity at the load-serving entity (LSE) level. The second option for implementation of cap-and-trade has been called the ‘first-seller’ approach. Conceptually, under first-seller, individual sources (i.e. power plants) within California would be responsible for their emissions, as with traditional cap-and-trade systems. Emissions from imports would be assigned to the ‘importing firm’. An option that has not been as widely discussed is to implement a pure source-based system within California, effectively excluding imports from the cap-and-trade system altogether. This article examines these three approaches to implementing cap-and-trade for California's electricity sector. The article discusses many of the issues relating to measurement and the impacts on bidding and scheduling incentives that are created by the various regulatory regimes.  相似文献   

Country-specific dietary shifts to mitigate climate and water crises     

《Global Environmental Change》2020

Undernutrition, obesity, climate change, and freshwater depletion share food and agricultural systems as an underlying driver. Efforts to more closely align dietary patterns with sustainability and health goals could be better informed with data covering the spectrum of countries characterized by over- and undernutrition. Here, we model the greenhouse gas (GHG) and water footprints of nine increasingly plant-forward diets, aligned with criteria for a healthy diet, specific to 140 countries. Results varied widely by country due to differences in: nutritional adjustments, baseline consumption patterns from which modeled diets were derived, import patterns, and the GHG- and water-intensities of foods by country of origin. Relative to exclusively plant-based (vegan) diets, diets comprised of plant foods with modest amounts of low-food chain animals (i.e., forage fish, bivalve mollusks, insects) had comparably small GHG and water footprints. In 95 percent of countries, diets that only included animal products for one meal per day were less GHG-intensive than lacto-ovo vegetarian diets (in which terrestrial and aquatic meats were eliminated entirely) in part due to the GHG-intensity of dairy foods. The relatively optimal choices among modeled diets otherwise varied across countries, in part due to contributions from deforestation (e.g., for feed production and grazing lands) and highly freshwater-intensive forms of aquaculture. Globally, modest plant-forward shifts (e.g., to low red meat diets) were offset by modeled increases in protein and caloric intake among undernourished populations, resulting in net increases in GHG and water footprints. These and other findings highlight the importance of trade, culture, and nutrition in diet footprint analyses. The country-specific results presented here could provide nutritionally-viable pathways for high-meat consuming countries as well as transitioning countries that might otherwise adopt the Western dietary pattern.  相似文献   

城镇化模式与低碳发展的关联分析——以石家庄市为例     

曹颖  郑晓奇  刘强 《气候变化研究进展》2020,16(2):223-231

不同城镇化发展模式对城市碳排放有显著影响。以石家庄市为案例,基于历年统计数据及实地调研数据,采用情景分析方法,定量核算石家庄市不同城镇化模式下的碳排放,结果表明在不同的城镇化模式下,石家庄市能源消费和碳排放将存在显著差异。与延续目前相对高碳的城镇化模式相比,在低碳城镇化模式下,2015—2030年,在城镇化率同样提升18.7%的情景下,碳排放的年均增速将由4.3%下降至0.4%,碳减排效果非常显著。  相似文献   

Food choices,health and environment: Effects of cutting Europe's meat and dairy intake     

《Global Environmental Change》2014

Western diets are characterised by a high intake of meat, dairy products and eggs, causing an intake of saturated fat and red meat in quantities that exceed dietary recommendations. The associated livestock production requires large areas of land and lead to high nitrogen and greenhouse gas emission levels. Although several studies have examined the potential impact of dietary changes on greenhouse gas emissions and land use, those on health, the agricultural system and other environmental aspects (such as nitrogen emissions) have only been studied to a limited extent. By using biophysical models and methods, we examined the large-scale consequences in the European Union of replacing 25–50% of animal-derived foods with plant-based foods on a dietary energy basis, assuming corresponding changes in production. We tested the effects of these alternative diets and found that halving the consumption of meat, dairy products and eggs in the European Union would achieve a 40% reduction in nitrogen emissions, 25–40% reduction in greenhouse gas emissions and 23% per capita less use of cropland for food production. In addition, the dietary changes would also lower health risks. The European Union would become a net exporter of cereals, while the use of soymeal would be reduced by 75%. The nitrogen use efficiency (NUE) of the food system would increase from the current 18% to between 41% and 47%, depending on choices made regarding land use. As agriculture is the major source of nitrogen pollution, this is expected to result in a significant improvement in both air and water quality in the EU. The resulting 40% reduction in the intake of saturated fat would lead to a reduction in cardiovascular mortality. These diet-led changes in food production patterns would have a large economic impact on livestock farmers and associated supply-chain actors, such as the feed industry and meat-processing sector.  相似文献