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Sustainable Cooperation In Global Climate Policy: Specific Formulas And Emission Targets

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  • VALENTINA BOSETTI

    (Fondazione Eni Enrico Mattei and EuroMediterranean Center on Climate Change, Milan, Italy)

  • JEFFREY FRANKEL

    (The Harvard Kennedy School, Harvard University, USA)

Abstract

We propose a framework that, building on the pledges made by governments after the Copenhagen Accord of 2009, could be used to assign allocations of emissions of greenhouse gases (GHGs), across all countries, one budget period at a time, as envisioned at the 2011 negotiations in Durban. Under this two-part plan: (i) China, India, and other developing countries accept targets at Business as Usual (BAU) in the coming budget period, the same period in which the U.S. first agrees to cuts below BAU; and (ii) all countries are asked in the future to make further cuts in accordance with a common numerical formula that each country is likely to view as fair. We use a state of the art integrated assessment model to project economic and environmental effects of the computed emission targets.

Suggested Citation

  • Valentina Bosetti & Jeffrey Frankel, 2014. "Sustainable Cooperation In Global Climate Policy: Specific Formulas And Emission Targets," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 1-34.
    • Handle: RePEc:wsi:ccexxx:v:05:y:2014:i:03:n:s2010007814500067
    DOI: 10.1142/S2010007814500067
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    Cited by:

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    3. Martin L. Weitzman, 2014. "Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(1), pages 29-49.
    4. Carlos Gustavo Cano, 2014. "Carestía e inflación: qué esperar de la política agrícola y los gravámenes a la tierra y el carbono," Borradores de Economia 836, Banco de la Republica de Colombia.
    5. Martin L. Weitzman, 2015. "Internalizing the Climate Externality: Can a Uniform Price Commitment Help?," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).

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    More about this item

    Keywords

    Allocations; assigned amounts; climate change; Copenhagen Accord; Durban; developing countries; emission targets; equity; greenhouse gases; integrated assessment model; international environmental agreements; kyoto protocol; UNFCCC; Q54; F53;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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