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The Copenhagen Accord/Cancún Agreements Emission Pledges For 2020: Exploring Economic And Environmental Impacts


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    (OECD Environment Directorate, 2 rue Andre Pascal, Paris, France)


    (OECD Environment Directorate, 2 rue Andre Pascal, Paris, France)


    (OECD Environment Directorate, 2 rue Andre Pascal, Paris, France)


Many countries have pledged targets or actions to reduce greenhouse gas emissions; these have been listed in the Appendices to the Copenhagen Accord and, at the time of writing, are being transferred to the UNFCCC Cancún Agreements. This analysis examines the costs and effectiveness of these pledges, as well as the potential for fiscal revenue, using a computable general equilibrium model. The results show that while the pledges are an important and welcome start to a global solution, they are not ambitious enough for a pathway to limit average global temperature increase to below 2°C. This paper estimates the costs of action at around 0.3% of GDP for both Annex I and non-Annex I countries and 0.5–0.6% of global real income. Furthermore, the fiscal revenue potential can exceed 1% of GDP for the Annex I countries if market-based instruments are used. Sensitivity analysis shows that allowing more offsets can reduce the costs of actions substantially, as can direct linking of carbon markets across Annex I countries.

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Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Climate Change Economics.

Volume (Year): 02 (2011)
Issue (Month): 01 ()
Pages: 53-78

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Handle: RePEc:wsi:ccexxx:v:02:y:2011:i:01:p:53-78

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Keywords: Climate change; computable general equilibrium model; Copenhagen Accord; Cancún Agreements; greenhouse gas mitigation; JEL Classifications: F53; JEL Classifications: H23; JEL Classifications: H87; JEL Classifications: Q54; JEL Classifications: Q58;

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Cited by:
  1. Böhringer, Christoph & Fischer, Carolyn & Einar Rosendahl, Knut, 2011. "Cost-Effective Unilateral Climate Policy Design: Size Matters," Discussion Papers dp-11-34, Resources For the Future.
  2. Fouré, Jean & Guimbard, Houssein & Monjon, Stéphanie, 2013. "Border Carbon Ajustment in Europe and Trade Retaliation: What would be the Cost for European Union?," Economics Papers from University Paris Dauphine 123456789/13008, Paris Dauphine University.
  3. Duscha, Vicki & Schumacher, Katja & Schleich, Joachim & Buisson, Pierre, 2013. "Costs of meeting international climate targets without nuclear power," Working Papers "Sustainability and Innovation" S7/2013, Fraunhofer Institute for Systems and Innovation Research (ISI).


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