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Economic Evaluation of Carbon Dioxide Emission Abatement Measures in the Greek Energy Sector

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  • Y. Sarafidis
  • S. Mirasgedis
  • E. Georgopoulou
  • D. P. Lalas

Abstract

This paper outlines a methodological framework for the economic evaluation of carbon dioxide (CO 2 ) emission abatement policies and measures, formulating a basis for the selection of those options of climate change mitigation interventions that minimize economic cost and maximize social welfare. To this purpose, a cost-benefit analysis has been implemented in order to evaluate a variety of CO 2 emission abatement measures in the Greek energy sector on the basis of their social (i.e. the sum of the private and external) costs and benefits, and it is compared with a cost-effectiveness analysis, which takes into account only the net financial costs of the examined interventions. The analysis clearly reveals that a significant decrease in CO 2 emissions is possible without great cost to the economy. Moreover, the monetization of environmental benefits (e.g. the restriction of impacts on human health, agriculture and biodiversity, etc.) associated with the above-mentioned interventions represents a powerful tool for highlighting priority actions in the context of a climate change mitigation policy and for quantifying their overall economic and environmental effectiveness.

Suggested Citation

  • Y. Sarafidis & S. Mirasgedis & E. Georgopoulou & D. P. Lalas, 2002. "Economic Evaluation of Carbon Dioxide Emission Abatement Measures in the Greek Energy Sector," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 45(2), pages 181-198.
    • Handle: RePEc:taf:jenpmg:v:45:y:2002:i:2:p:181-198
    DOI: 10.1080/09640560220116297
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    References listed on IDEAS

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    1. Kopp, Raymond J. & Krupnick, Alan J. & Toman, Michael, 1997. "Cost-Benefit Analysis and Regulatory Reform: An Assessment of the Science and the Art," Discussion Papers 10851, Resources for the Future.
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    Cited by:

    1. Iskin, Ibrahim & Daim, Tugrul & Kayakutlu, Gulgun & Altuntas, Mehmet, 2012. "Exploring renewable energy pricing with analytic network process — Comparing a developed and a developing economy," Energy Economics, Elsevier, vol. 34(4), pages 882-891.
    2. Aronsson, Thomas & Löfgren, Karl-Gustaf & Sjögren, Tomas, 2002. "A Note on Environmental Policy Reform, Distortionary Taxation and Imperfect Competition," Umeå Economic Studies 600, Umeå University, Department of Economics.
    3. Georgopoulou, E. & Sarafidis, Y. & Mirasgedis, S. & Balaras, C.A. & Gaglia, A. & Lalas, D.P., 2006. "Evaluating the need for economic support policies in promoting greenhouse gas emission reduction measures in the building sector: The case of Greece," Energy Policy, Elsevier, vol. 34(15), pages 2012-2031, October.

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