Carbon Pricing

A growing number of jurisdictions are adopting market-based climate policies. By putting a price on carbon, these policies give businesses the incentive to innovate so they can cut emissions at the lowest possible cost.

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The Emerging International Greenhouse Gas Market

As businesses, policy-makers, and other stakeholders around the world have become familiar with greenhouse gas emissions trading, it has emerged as the policy of choice to address climate change. Now—with the recent agreements in Bonn and Marrakech, with new carbon …

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Discounting the Benefits of Climate Change Mitigation: How Much Do Uncertain Rates Increase Valuations?

How do we compare the costs of greenhouse gas mitigation measures taken today with the benefits produced by these actions in the future? How do we calculate the value of an investment when benefits will continue to accrue over centuries? …

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Worker Transition & Global Climate Change

A Pew Center report series on the economics of climate change has identified ways in which economic modeling can more reliably project the costs of greenhouse gas reduction policies. These studies show that better model design — for instance, more …

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An Overview of Greenhouse Gas Emissions Verification Issues

The need for information on how to count, track, and verify greenhouse gas emissions has never been greater. Many of the world’s nations are working toward international, national, and subnational regimes for reducing emissions. These efforts have been accompanied by …

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New Directions in the Economics and Integrated Assessment of Global Climate Change

This report elaborates on four issues – technological innovation, the behavior of firms, intergenerational equity, and climate “surprises” – that have profound implications for the modelers and makers of climate policy. Computer models that integrate climate science, policy, and economic …

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Technology and the Economics of Climate Change Policy

Climate change policy analysis is fraught with uncertainty and controversy, but at least one thing is perfectly clear: technological innovation is the key to addressing climate change. Moving the economy to a greenhouse – friendly future will necessitate a profound …

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The Role of Substitution in Understanding the Costs of Climate Change Policy

The U.S. economy has proven both resilient and adaptive over the past century. From the “bust” of the Great Depression to the current “boom” associated with information technology, the economy’s ability to adapt stems largely from the substitution possibilities within …

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An Introduction to the Economics of Climate Change Policy

What are the potential costs of cutting greenhouse gas emissions? Can such reductions be achieved without sacrificing economic growth or the standard of living we have come to enjoy? These are important questions, and they come up again and again …

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International Emissions Trading & Global Climate Change: Impacts on the Cost of Greenhouse Gas Mitigation

Several factors influence the costs of greenhouse gas mitigation. This report illustrates the importance of one such factor—international emissions trading—in reducing the costs of carbon control. The authors find that an international greenhouse gas emissions trading regime will significantly lower …

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Market Mechanisms & Global Climate Change

There is growing evidence that providing businesses and consumers with market-based mechanisms for addressing environmental problems can achieve equal or better compliance while reducing costs and spurring technological innovation. In the context of climate change, countries have agreed to use …

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