Emissions Intensity Targeting: From China's 12th Five Year Plan to its Copenhagen Commitment
AbstractChina is currently the worldâ€™s largest single source of fossil fuel related CO2 emissions. In response to pressure from the international community, and in recognition of its role in global climate change mitigation, the Chinese government has announced a series of climate policy commitments, in both the Copenhagen Accord and its domestic 12th 5 Year Plan, to gradually reduce emissions intensity by 2020. Emissions intensity reduction commitments differ significantly from emission level reduction commitments that are commonly adopted by developed economies. In this paper, we investigate the economic implications of Chinaâ€™s recent commitments to reduce emissions intensity, and highlight the complexities involved in modelling intensity targets under uncertainty. Using G-Cubed, an intertemporal, computable general equilibrium model of the world economy, we show that Chinaâ€™s emissions intensity targets could be achieved with a range of low and high growth emissions level trajectories corresponding to low and high growth GDP scenarios, which lead to different welfare consequences.
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Bibliographic InfoPaper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2012-45.
Length: 35 pages
Date of creation: Oct 2012
Date of revision:
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More information through EDIRC
China; Emissions intensity targeting; Climate policy; G-Cubed model;
Find related papers by JEL classification:
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
- Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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