IDEAS home Printed from https://ideas.repec.org/p/iie/wpaper/wp11-19.html
   My bibliography  Save this paper

Delivering on US Climate Finance Commitments

Author

Listed:
  • Trevor Houser

    (Peterson Institute for International Economics)

  • Jason Selfe

    (Rhodium Group)

Abstract

At the United Nations climate change conference in Copenhagen in 2009 and Cancun in 2010, the United States joined other developed countries in pledging to mobilize $100 billion in public and private sector funding to help developing countries reduce greenhouse gas emissions and adapt to a warmer world. With a challenging US fiscal outlook and the failure of cap-and-trade legislation in the US Congress, America's ability to meet this pledge is increasingly in doubt. This paper identifies, quantifies, and assesses the politics of a range of potential US sources of climate finance. It finds that raising new public funds for climate finance will be extremely challenging in the current fiscal environment and that many of the politically attractive alternatives are not realistically available absent a domestic cap-and-trade program or other regime for pricing carbon. Washington's best hope is to use limited public funds to leverage private sector investment through bilateral credit agencies and multilateral development banks.

Suggested Citation

  • Trevor Houser & Jason Selfe, 2011. "Delivering on US Climate Finance Commitments," Working Paper Series WP11-19, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp11-19
    as

    Download full text from publisher

    File URL: https://www.piie.com/publications/working-papers/delivering-us-climate-finance-commitments
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Aaditya Mattoo & Arvind Subramanian & Dominique van der Mensbrugghe & Jianwu He, 2009. "Reconciling Climate Change and Trade Policy," Working Papers 189, Center for Global Development.
    2. Trevor Houser, 2010. "Copenhagen, the Accord, and the Way Forward," Policy Briefs PB10-5, Peterson Institute for International Economics.
    3. Congressional Budget Office, 2011. "Budget and Economic Outlook: Fiscal Years 2011 to 2021," Reports 21999, Congressional Budget Office.
    4. Congressional Budget Office, 2011. "Budget and Economic Outlook: Fiscal Years 2011 to 2021," Reports 21999, Congressional Budget Office.
    5. repec:cbo:report:219996 is not listed on IDEAS
    6. European Commission, 2010. "Innovative Financing at a Global Level," Taxation Papers 23, Directorate General Taxation and Customs Union, European Commission.
    7. Gary Clyde Hufbauer & Meera Fickling & Woan Foong Wong, 2011. "Revitalizing the Export-Import Bank," Policy Briefs PB11-6, Peterson Institute for International Economics.
    8. Ross Morrow, W. & Gallagher, Kelly Sims & Collantes, Gustavo & Lee, Henry, 2010. "Analysis of policies to reduce oil consumption and greenhouse-gas emissions from the US transportation sector," Energy Policy, Elsevier, vol. 38(3), pages 1305-1320, March.
    9. William R. Cline, 2011. "Carbon Abatement Costs and Climate Change Finance," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6079, January.
    10. repec:cbo:report:219997 is not listed on IDEAS
    11. Gary Clyde Hufbauer & Woan Foong Wong, 2011. "Corporate Tax Reform for a New Century," Policy Briefs PB11-2, Peterson Institute for International Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jonathan Pickering & Frank Jotzo & Peter J. Wood, 2015. "Splitting the Difference: Can Limited Coordination Achieve a Fair Distribution of the Global Climate Financing Effort?," CCEP Working Papers 1504, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
    2. Cooper, Richard N., 2012. "Financing for climate change," Energy Economics, Elsevier, vol. 34(S1), pages 29-33.
    3. Cooper, Richard N., 2012. "Financing for climate change," Scholarly Articles 13578515, Harvard University Department of Economics.

    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. Nishiyama, Shinichi, 2011. "The budgetary and welfare effects of tax-deferred retirement saving accounts," Journal of Public Economics, Elsevier, vol. 95(11), pages 1561-1578.
    2. Singh, Ajay Pratap & Nikolaou, Michael, 2014. "Optimal rules for central bank interest rates subject to zero lower bound," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-67.
    3. Trevor Houser & Shashank Mohan, 2011. "America’s Energy Security Options," Policy Briefs PB11-10, Peterson Institute for International Economics.
    4. David R. Mann & David C. Stapleton, "undated". "Fiscal Austerity and the Transition to Twenty-First Century Disability Policy: A Road Map," Mathematica Policy Research Reports a469448f0c224f3797e584c8c, Mathematica Policy Research.
    5. Robert B. Avery & Daniel Grodzicki & Kevin B. Moore, 2013. "Estate vs. capital gains taxation: an evaluation of prospective policies for taxing wealth at the time of death," Finance and Economics Discussion Series 2013-28, Board of Governors of the Federal Reserve System (U.S.).
    6. repec:mpr:mprres:7214 is not listed on IDEAS
    7. Ryan Saylor, 2013. "Concepts, Measures, and Measuring Well," Sociological Methods & Research, , vol. 42(3), pages 354-391, August.
    8. Adam McKissack & Jessica Xu, 2011. "Chinese macroeconomic management through the crisis and beyond," Treasury Working Papers 2011-01, The Treasury, Australian Government, revised Jun 2011.
    9. Peter Holmes & Tom Reilly & Jim Rollo, 2011. "Border carbon adjustments and the potential for protectionism," Climate Policy, Taylor & Francis Journals, vol. 11(2), pages 883-900, March.
    10. Laurence Ball & Sandeep Mazumder, 2011. "Inflation Dynamics and the Great Recession," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(1 (Spring), pages 337-405.
    11. Luis Servén & Ha Nguyen, 2013. "Global Imbalances: Origins and Prospects," The World Bank Research Observer, World Bank, vol. 28(2), pages 191-219, August.
    12. Giancarlo Corsetti & Keith Kuester & André Meier & Gernot J. Müller, 2013. "Sovereign Risk, Fiscal Policy, and Macroeconomic Stability," Economic Journal, Royal Economic Society, vol. 0, pages 99-132, February.
    13. Ngina Chiteji & Sheldon Danziger, 2012. "How Frustrated Are Americans?," Challenge, Taylor & Francis Journals, vol. 55(4), pages 63-77.
    14. Elise Marifian & Scott A. Wolla, 2012. "The output gap: a “potentially” unreliable measure of economic health?," Page One Economics Newsletter, Federal Reserve Bank of St. Louis, issue nov, pages 1-3, November.
    15. Li, Aijun & Du, Nan & Wei, Qian, 2014. "The cross-country implications of alternative climate policies," Energy Policy, Elsevier, vol. 72(C), pages 155-163.
    16. Bhardwaj, Chandan & Axsen, Jonn & Kern, Florian & McCollum, David, 2020. "Why have multiple climate policies for light-duty vehicles? Policy mix rationales, interactions and research gaps," Transportation Research Part A: Policy and Practice, Elsevier, vol. 135(C), pages 309-326.
    17. Shuxia Yang & Yu Ji & Di Zhang & Jing Fu, 2019. "Equilibrium between Road Traffic Congestion and Low-Carbon Economy: A Case Study from Beijing, China," Sustainability, MDPI, vol. 11(1), pages 1-22, January.
    18. Böhringer, Christoph & Fischer, Carolyn & Rosendahl, Knut Einar, 2014. "Cost-effective unilateral climate policy design: Size matters," Journal of Environmental Economics and Management, Elsevier, vol. 67(3), pages 318-339.
    19. ZhongXiang Zhang, 2012. "Who should bear the cost of China’s carbon emissions embodied in goods for exports?," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 24(2), pages 103-117, June.
    20. John Whalley, 2011. "What Role for Trade in a Post‐2012 Global Climate Policy Regime," The World Economy, Wiley Blackwell, vol. 34(11), pages 1844-1862, November.
    21. Aichele, Rahel & Felbermayr, Gabriel, 2012. "Kyoto and the carbon footprint of nations," Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 336-354.

    More about this item

    Keywords

    climate change; carbon; climate finance; UNFCCC; Copenhagen Accord; Cancun Agreements; development assistance; adaptation; green fund; multilateral development banks; fossil fuel subsidies; emission offsets; bilateral credit agencies;
    All these keywords.

    JEL classification:

    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • Q27 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Issues in International Trade
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • F18 - International Economics - - Trade - - - Trade and Environment
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

    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:iie:wpaper:wp11-19. See general information about how to correct material in RePEc.

    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: Peterson Institute webmaster (email available below). General contact details of provider: https://edirc.repec.org/data/iieeeus.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.