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Economic tools to promote transparency and comparability in the Paris Agreement

Author

Listed:
  • Pizer, William
  • Tavoni, Massimo
  • Reis, Lara
  • Akimoto, Keigo
  • Aldy, Joseph Edgar
  • Blanford, Geoffrey
  • Carraro, Carlo
  • Clarke, Leon
  • Edmonds, James
  • Iyer, Gokul
  • McJeon, Haewon
  • Richels, Richard
  • Rose, Steven
  • Sano, Fuminori

Abstract

The Paris Agreement culminates a six-year transition toward an international climate policy architecture based on parties submitting national pledges every five years. An important policy task will be to assess and compare these contributions. We use four integrated assessment models to produce metrics of Paris Agreement pledges, and show differentiated effort across countries: wealthier countries pledge to undertake greater emission reductions with higher costs. The pledges fall in the lower end of the distributions of the social cost of carbon (SCC) and the cost-minimizing path to limiting warming to 2⠰C, suggesting insufficient global ambition in light of leaders’ climate goals. Countries’ marginal abatement costs vary by two orders of magnitude, illustrating that large efficiency gains are available through joint mitigation efforts and/or carbon price coordination. Marginal costs rise almost proportionally with income, but full policy costs reveal more complex regional patterns due to terms of trade effects.

Suggested Citation

  • Pizer, William & Tavoni, Massimo & Reis, Lara & Akimoto, Keigo & Aldy, Joseph Edgar & Blanford, Geoffrey & Carraro, Carlo & Clarke, Leon & Edmonds, James & Iyer, Gokul & McJeon, Haewon & Richels, Rich, 2016. "Economic tools to promote transparency and comparability in the Paris Agreement," Scholarly Articles 29914190, Harvard Kennedy School of Government.
  • Handle: RePEc:hrv:hksfac:29914190
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    File URL: http://dash.harvard.edu/bitstream/handle/1/29914190/Aldy_et_al_Nature_Climate_Change_2016.pdf
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    File URL: http://dash.harvard.edu/bitstream/handle/1/29914190/Aldy_et_al_Nature_Climate_Change_2016.pdf
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    References listed on IDEAS

    as
    1. Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "WITCH. A World Induced Technical Change Hybrid Model," Working Papers 2006_46, Department of Economics, University of Venice "Ca' Foscari".
    2. Akimoto, Keigo & Sano, Fuminori & Homma, Takashi & Oda, Junichiro & Nagashima, Miyuki & Kii, Masanobu, 2010. "Estimates of GHG emission reduction potential by country, sector, and cost," Energy Policy, Elsevier, vol. 38(7), pages 3384-3393, July.
    3. Geoffrey Blanford & James Merrick & Richard Richels & Steven Rose, 2014. "Trade-offs between mitigation costs and temperature change," Climatic Change, Springer, vol. 123(3), pages 527-541, April.
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    Cited by:

    1. Bistline, John E., 2016. "Energy technology R&D portfolio management: Modeling uncertain returns and market diffusion," Applied Energy, Elsevier, vol. 183(C), pages 1181-1196.
    2. repec:eee:tefoso:v:125:y:2017:i:c:p:258-274 is not listed on IDEAS
    3. Jeroen C.J.M. van den Bergh & Arild Angelsen & Andrea Baranzini & W.J. Wouter Botzen & Stefano Carattini & Stefan Drews & Tessa Dunlop & Eric Galbraith & Elisabeth Gsottbauer & Richard B. Howarth & Em, 2018. "Parallel tracks towards a global treaty on carbon pricing," Working Papers 2018/12, Institut d'Economia de Barcelona (IEB).
    4. repec:ejn:ejefjr:v:5:y:2017:i:4:p:16-35 is not listed on IDEAS
    5. repec:spr:nathaz:v:92:y:2018:i:2:d:10.1007_s11069-018-3297-9 is not listed on IDEAS
    6. Céline Guivarch & Hélène Benveniste & Olivier Boucher & Hervé Le Treut & Patrick Criqui, 2017. "Impacts of nationally determined contributions on 2030 global greenhouse gas emissions: uncertainty analysis and distribution of emissions," Post-Print halshs-01665953, HAL.
    7. Johannes Emmerling & Massimo Tavoni, 2017. "Quantifying Non-cooperative Climate Engineering," Working Papers 2017.58, Fondazione Eni Enrico Mattei.
    8. repec:eee:enepol:v:110:y:2017:i:c:p:581-587 is not listed on IDEAS
    9. Ian Parry & Victor Mylonas & Nate Vernon, 2018. "Mitigation Policies for the Paris Agreement: An Assessment for G20 Countries," IMF Working Papers 18/193, International Monetary Fund.
    10. repec:bla:worlde:v:41:y:2018:i:10:p:2650-2668 is not listed on IDEAS
    11. repec:oup:renvpo:v:12:y:2018:i:2:p:197-219. is not listed on IDEAS
    12. repec:eee:eneeco:v:70:y:2018:i:c:p:45-60 is not listed on IDEAS
    13. repec:eee:ecolec:v:150:y:2018:i:c:p:52-61 is not listed on IDEAS
    14. repec:eee:energy:v:167:y:2019:i:c:p:1120-1131 is not listed on IDEAS
    15. repec:eee:enepol:v:130:y:2019:i:c:p:328-340 is not listed on IDEAS

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