IDEAS home Printed from https://ideas.repec.org/p/een/ccepwp/1117.html
   My bibliography  Save this paper

In Search of a New Effective International Climate Framework for Post-2020: A Proposal for an Upstream Global Carbon Market

Author

Listed:
  • Mutsuyoshi Nishimura
  • Akinobu Yasumoto

Abstract

Given the urgency and the magnitude of emission cuts required to arrest the global temperature rise at an acceptable level (like 2 degrees Celsius), it is imperative that action to mitigate climate change is taken at the lowest cost. This can be done if a cost effective set of policy tools with a focus on carbon pricing is applied as broadly as possible across all emission sources. In view of the emerging consensus on the temperature target like 2 degrees Celsius, it is imperative that climate scheme caps global emissions rather than allowing governments to arbitrarily pledge their intended cuts. Global emissions must be contained within the limit of carbon budget that achieves temperature objectives. Emission allowances must be issued in accordance with such limit and be sold to the global demand of emitters. Such sales of carbon budget give rise to both the most accurate carbon pricing as well as new revenue that can be used for much needed climate financing for developing countries. A new climate regime along those lines would stop global warming at an acceptable level, provide a new large climate funding that would integrate developing countries to a global low-carbon growth and transformation and keep all economies thriving, whether they are developing, emerging or developed. The post-2020 climate regime must be nimble and effective, not unwieldy and least burdensome. It must also be durable and fully congruent to the economic realities of the coming decades.

Suggested Citation

  • Mutsuyoshi Nishimura & Akinobu Yasumoto, 2011. "In Search of a New Effective International Climate Framework for Post-2020: A Proposal for an Upstream Global Carbon Market," CCEP Working Papers 1117, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:een:ccepwp:1117
    as

    Download full text from publisher

    File URL: http://ccep.anu.edu.au/data/2011/pdf/wpapers/CCEP1117Nishimura.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Frank Jotzo & Jonathan Pickering & Peter J. Wood, 2011. "Fulfilling Australia's International Climate Finance Commitments: Which Sources of Financing Are Promising and How Much Could They Raise?," CCEP Working Papers 1115, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
    2. Aldy,Joseph E. & Stavins,Robert N. (ed.), 2009. "Post-Kyoto International Climate Policy," Cambridge Books, Cambridge University Press, number 9780521129527.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Crawford School Working Papers in December 2011
      by David Stern in Stochastic Trend on 2012-01-03 06:04:00
    2. CCEP Working Papers in November 2011
      by David Stern in Stochastic Trend on 2011-12-03 07:00:00

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nishimura, Mutsuyoshi & Yasumoto, Akinobu, 2011. "In Search of a New Effective International Climate Framework for Post-2020: A Proposal for an Upstream Global Carbon Market," Working Papers 249540, Australian National University, Centre for Climate Economics & Policy.
    2. Frankel, Jeffrey A. & Bosetti, Valentina, 2011. "Politically Feasible Emission Target Formulas to Attain 460 ppm CO[subscript 2] Concentrations," Working Paper Series rwp11-016, Harvard University, John F. Kennedy School of Government.
    3. Thomas Norman & Heinrich H. Nax, 2011. "Leading the Way: Coalitional Stability in Technological Cooperation & Sequential Climate Policy," Economics Series Working Papers 585, University of Oxford, Department of Economics.
    4. Sareh Vosooghi, 2017. "Information Design In Coalition Formation Games," Working Papers 2017.28, Fondazione Eni Enrico Mattei.
    5. Ansink, Erik & Weikard, Hans-Peter & Withagen, Cees, 2019. "International environmental agreements with support," Journal of Environmental Economics and Management, Elsevier, vol. 97(C), pages 241-252.
    6. Valentina Bosetti & Jeffrey A. Frankel, 2009. "Global Climate Policy Architecture and Political Feasibility: Specific Formulas and Emission Targets to Attain 460 ppm CO2 Concentrations," NBER Working Papers 15516, National Bureau of Economic Research, Inc.
    7. Rong, Fang, 2010. "Understanding developing country stances on post-2012 climate change negotiations: Comparative analysis of Brazil, China, India, Mexico, and South Africa," Energy Policy, Elsevier, vol. 38(8), pages 4582-4591, August.
    8. Bård Harstad, 2012. "Buy Coal! A Case for Supply-Side Environmental Policy," Journal of Political Economy, University of Chicago Press, vol. 120(1), pages 77-115.
    9. Luis Abadie & Ibon Galarraga & Dirk Rübbelke, 2013. "An analysis of the causes of the mitigation bias in international climate finance," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 18(7), pages 943-955, October.
    10. Katerina Sherstyuk & Nori Tarui & Majah-Leah V. Ravago & Tatsuyoshi Saijo, 2016. "Intergenerational Games with Dynamic Externalities and Climate Change Experiments," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 3(2), pages 247-281.
    11. Valentina Bosetti & Jeffrey Frankel, 2012. "Politically Feasible Emissions Targets to Attain 460 ppm CO 2 Concentrations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 86-109.
    12. Pickering, Jonathan & Jotzo, Frank & Wood, Peter J., 2015. "Splitting the difference: can limited coordination achieve a fair distribution of the global climate financing effort?," Working Papers 249508, Australian National University, Centre for Climate Economics & Policy.
    13. Bård Harstad, 2016. "The Dynamics Of Climate Agreements," Journal of the European Economic Association, European Economic Association, vol. 14(3), pages 719-752, June.
    14. Tavoni, Massimo & van Vuuren, Detlef, 2015. "Regional Carbon Budgets: Do They Matter for Climate Policy?," Climate Change and Sustainable Development 207015, Fondazione Eni Enrico Mattei (FEEM).
    15. Carlo Secchi & Antonio Villafranca (ed.), 2011. "Global Governance and the Role of the EU," Books, Edward Elgar Publishing, number 14411.
    16. Robert N. Stavins, 2011. "The Problem of the Commons: Still Unsettled after 100 Years," American Economic Review, American Economic Association, vol. 101(1), pages 81-108, February.
    17. Johansson, Daniel J. A. & Lucas, Paul L. & Weitzel, Matthias & Ahlgren, Erik O. & Bazaz, A. B. & Chen, Wenying & den Elzen, Michel G. J. & Ghosh, Joydeep & Grahn, Maria & Liang, Qiao-Mei & Peterson, S, 2012. "Multi-model analyses of the economic and energy implications for China and India in a post-Kyoto climate regime," Kiel Working Papers 1808, Kiel Institute for the World Economy (IfW Kiel).
    18. Stranadko, Nataliya, 2021. "EU-US climate cooperation: Challenges and opportunities for the implementation of the Paris agreement," Discussion Papers 02/2021, Europa-Kolleg Hamburg, Institute for European Integration.
    19. Valentina Bosetti & Jeffrey A. Frankel, 2011. "Sustainable Cooperation in Global Climate Policy: Specific Formulas and Emission Targets to Build on Copenhagen and Cancun," NBER Working Papers 17669, National Bureau of Economic Research, Inc.
    20. Miguel A. Meléndez-Jiménez & Arnold Polanski, 2018. "Dirty neighbors: Pollution in an interlinked world," Working Papers 2018-06, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.

    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:een:ccepwp:1117. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/asanuau.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCEP (email available below). General contact details of provider: https://edirc.repec.org/data/asanuau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.