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Three Key Elements of Post-2012 International Climate Policy Architecture

Author

Listed:
  • Sheila M. Olmstead

    (chool of Forestry and Environmental Studies, Yale University, Resources for the Future)

  • Robert N. Stavins

    (John F. Kennedy School of Government, Harvard University, Resources for the Future, National Bureau of Economic Research)

Abstract

We describe three essential elements of an effective post-2012 international global climate policy architecture: a means to ensure that key industrialized and developing nations are involved in differentiated but meaningful ways; an emphasis on an extended time path of targets; and inclusion of flexible market-based policy instruments to keep costs down and facilitate international equity. This architecture is consistent with fundamental aspects of the science, economics, and politics of global climate change; addresses specific shortcomings of the Kyoto Protocol; and builds upon the foundation of the United Nations Framework Convention on Climate Change.

Suggested Citation

  • Sheila M. Olmstead & Robert N. Stavins, 2010. "Three Key Elements of Post-2012 International Climate Policy Architecture," Working Papers 2010.97, Fondazione Eni Enrico Mattei.
    • Handle: RePEc:fem:femwpa:2010.97
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    Citations

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    Cited by:

    1. Itkonen, Juha, 2017. "Efficiency and dependency in a network of linked permit markets," Research Discussion Papers 20/2017, Bank of Finland.
    2. Gilbert E. Metcalf & David Weisbach, 2012. "Linking Policies When Tastes Differ: Global Climate Policy in a Heterogeneous World," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 110-129.
    3. Wang, Derek D. & Sueyoshi, Toshiyuki, 2018. "Climate change mitigation targets set by global firms: Overview and implications for renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 94(C), pages 386-398.
    4. Bakalova, Irina & Eyckmans, Johan, 2019. "Simulating the impact of heterogeneity on stability and effectiveness of international environmental agreements," European Journal of Operational Research, Elsevier, vol. 277(3), pages 1151-1162.
    5. Winston W. Chang, 2017. "World Trade and the Environment: Issues and Policies," Pacific Economic Review, Wiley Blackwell, vol. 22(3), pages 435-479, August.
    6. Todd Sandler, 2017. "Environmental cooperation: contrasting international environmental agreements," Oxford Economic Papers, Oxford University Press, vol. 69(2), pages 345-364.
    7. Kamleshan Pillay & Jorge E. Viñuales, 2016. "“Monetary” rules for a linked system of offset credits," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 16(6), pages 933-951, December.
    8. Itkonen, Juha, 2017. "Efficiency and dependency in a network of linked permit markets," Bank of Finland Research Discussion Papers 20/2017, Bank of Finland.
    9. Joseph Aldy, 2014. "The crucial role of policy surveillance in international climate policy," Climatic Change, Springer, vol. 126(3), pages 279-292, October.
    10. Max Meulemann, 2017. "An Empirical Assessment Of Components Of Climate Architectures," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 8(04), pages 1-36, November.
    11. Farrahi Moghaddam, Reza & Farrahi Moghaddam, Fereydoun & Cheriet, Mohamed, 2013. "A modified GHG intensity indicator: Toward a sustainable global economy based on a carbon border tax and emissions trading," Energy Policy, Elsevier, vol. 57(C), pages 363-380.
    12. Muhammad Ishaq-ur Rahman, 2013. "Climate Change: a Theoretical Review," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 11(1), pages 1-13.
    13. Burtraw, Dallas & Palmer, Karen & Munnings, Clayton & Weber, Paige & Woerman, Matt, 2013. "Linking by Degrees: Incremental Alignment of Cap-and-Trade Markets," RFF Working Paper Series dp-13-04, Resources for the Future.
    14. Erik Ansink & Cees A. Withagen, 2016. "Members, Joiners, Free-Riders, Supporters," CESifo Working Paper Series 5802, CESifo.
    15. Davide Borelli & Francesco Devia & Margherita Marré Brunenghi & Corrado Schenone & Alessandro Spoladore, 2015. "Waste Energy Recovery from Natural Gas Distribution Network: CELSIUS Project Demonstrator in Genoa," Sustainability, MDPI, vol. 7(12), pages 1-17, December.
    16. Itkonen, Juha V.A., 2015. "Essays on the economics of climate change and networks," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number sm2015_049, December.
    17. Wang, Xu & Zhu, Lei & Liu, Pengfei, 2021. "Manipulation via endowments: Quantifying the influence of market power on the emission trading scheme," Energy Economics, Elsevier, vol. 103(C).
    18. George A. Gonzalez, 2016. "Transforming Energy: Solving Climate Change with Technology Policy . New York : Cambridge University Press . 360 pages. ISBN 9781107614970, $29.99 paperback. Anthony Patt , 2015 ," Review of Policy Research, Policy Studies Organization, vol. 33(1), pages 111-113, January.
    19. 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.
    20. Henckens, M.L.C.M. & Driessen, P.P.J. & Ryngaert, C. & Worrell, E., 2016. "The set-up of an international agreement on the conservation and sustainable use of geologically scarce mineral resources," Resources Policy, Elsevier, vol. 49(C), pages 92-101.
    21. 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.
    22. Derek Wang, 2017. "A Comparative Study of Firm-Level Climate Change Mitigation Targets in the European Union and the United States," Sustainability, MDPI, vol. 9(4), pages 1-19, March.
    23. Patrick Criqui & Constantin Ilasca & Emmanuel Prados, 2014. "National Soft Landing CO2 trajectories under global carbon budgets," Working Papers halshs-00980101, HAL.

    More about this item

    Keywords

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    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q39 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Other

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