Beyond Copenhagen: A Realistic Climate Policy in a Fragmented World
We propose a realistic approach to climate policy based on the Copenhagen Agreement to reduce Greenhouse Gases (GHGs) emissions. We assess by how much the non-binding, although official, commitments to reduce emissions made in Copenhagen will affect the level of world GHGs emissions in 2020. Our estimates are based on official communications to the UNFCCC, on historic data and on the Business-as-Usual scenario of the WITCH model. We are not interested in estimating the gap between the expected level of emissions and what would be needed to achieve the 2°C target. Nor do we attempt to calculate the 2100 temperature level implied by the Copenhagen pledges. We believe these two exercises are subject to high uncertainty and would not improve the current state of negotiations. Rather, we take stock of the present politically achievable level of commitment and suggest an effective way to push forward the climate policy agenda. The focus is on what can be done rather than on what should be done. To this end, we estimate the potential of the financial provisions of the Copenhagen Agreement to sponsor mitigation effort in Non-Annex I countries. Using scenarios produced with the WITCH model, we show that lower commitment on domestic abatement measures can be compensated by devoting roughly 50% of the Copenhagen financial provisions in 2020 to mitigation in Non-Annex I countries. The policy implications of our results will be discussed.
|Date of creation:||Oct 2010|
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- Francesco Bosello & Carlo Carraro & Enrica De Cian, 2010.
"Climate Policy And The Optimal Balance Between Mitigation, Adaptation And Unavoided Damage,"
Climate Change Economics (CCE),
World Scientific Publishing Co. Pte. Ltd., vol. 1(02), pages 71-92.
- Carlo Carraro & Francesco Bosello & Enrica De Cian, 2010. "Climate Policy and the Optimal Balance between Mitigation, Adaptation and Unavoided Damage," Working Papers 2010_09, Department of Economics, University of Venice "Ca' Foscari".
- Francesco Bosello & Carlo Carraro & Enrica De Cian, 2010. "Climate Policy and the Optimal Balance between Mitigation, Adaptation and Unavoided Damage," Working Papers 2010.32, Fondazione Eni Enrico Mattei.
- Valentina Bosetti & Emanuele Massetti & Massimo Tavoni, 2007. "The WITCH Model. Structure, Baseline, Solutions," Working Papers 2007.10, Fondazione Eni Enrico Mattei.
- Rob Dellink & Gregory Briner & Christa Clapp, 2010. "Costs, Revenues, and Effectiveness of the Copenhagen Accord Emission Pledges for 2020," OECD Environment Working Papers 22, OECD Publishing.
- Valentina Bosetti, Carlo Carraro, Marzio Galeotti, Emanuele Massetti, Massimo Tavoni, 2006. "A World induced Technical Change Hybrid Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 13-38.
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