KeywordsAMOUNT OF EMISSIONS
EMISSIONS REDUCTIONS OBLIGATIONS
DEMAND FOR ENERGY
EMISSIONS FROM DEFORESTATION
FRAMEWORK CONVENTION ON CLIMATE CHANGE
EMISSIONS FROM FUEL COMBUSTION
GLOBAL EMISSIONS REDUCTION
CLIMATE CHANGE MITIGATION
EMISSIONS FROM FUEL
RENEWABLE ENERGY SOURCES
NUCLEAR POWER PLANTS
GREENHOUSE GAS EMISSIONS
SOURCE OF ENERGY
TERMS OF TRADE
PER CAPITA INCOMES
SOCIAL COST OF CARBON
FOSSIL FUEL CONSUMPTION
CLIMATE CHANGE POLICY
DISTRIBUTION OF EMISSIONS
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AbstractInternational negotiations on climate change have been dogged by mutual recriminations between rich and poor countries, constricted by the zero-sum arithmetic of a shrinking global carbon budget, and overtaken by shifts in economic power between industrialized and developing countries. To overcome these "narrative," "adding-up," and "new world" problems, respectively, this paper proposes a new Greenprint for cooperation. First, the large dynamic emerging economies -- China, India, Brazil, and Indonesia -- must assume the mantle of leadership, offering contributions of their own and prodding the reluctant industrial countries into action. This role reversal would be consistent with the greater stakes for the dynamic emerging economies. Second, the emphasis must be on technology generation. This would allow greater consumption and production possibilities for all countries while respecting the global emissions budget that is dictated by the climate change goal of keeping average temperature rise below 2 degrees centigrade. Third, instead of the old cash-for-cuts approach -- which relies on the industrial countries offering cash (which they do not have) to the dynamic emerging economies for cuts (that they are unwilling to make) -- all major emitters must make contributions. With a view to galvanizing a technology revolution, industrial countries would take early action to raise carbon prices. The dynamic emerging economies would in turn eliminate fossil fuel subsidies, commit to matching carbon price increases in the future, allow limited border taxes against their own exports, and strengthen protection of intellectual property for green technologies. This would directly and indirectly facilitate such a technological revolution.
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Joint MDB Report to the G8 on the Implementation of the Clean Energy Investment Framework and Their Climate Change Agenda Going ForwardEuropean Bank for Reconstruction and Development; World Bank Group; Inter-American Development Bank; Asian Development Bank; African Development Bank; European Investment Bank (World Bank, Washington, DC, 2017-09-11)The 2005 Gleneagles G8 summit in July
2005 stimulated a concerted effort of the Multilateral
Development Banks (MDBs) to broaden and accelerate programs
on access to energy and climate change mitigation and
adaptation through the Clean Energy Investment Framework
(CEIF). At the Gleneagles summit, it was agreed that a
report on the implementation of the CEIF would be prepared
for the 2008 G8 (Group of Eight: Canada, France, Germany,
Italy, Japan, Russia, the United Kingdom, and the United
States) summit hosted by Japan. This joint report of the
MDBs to the G8 summit in Hokkaido is intended to provide
information on the outcomes and lessons learned under the
CEIF, describe the collective MDB objectives for addressing
the energy access and climate change challenges, and outline
how the MDBs plan to build on the CEIF experience to date to
more fully achieve these objectives. The report builds upon
the 'the MDBs and the climate change agenda'
report that was presented at the December 2007 Bali climate
change conference. This report describes actions taken by
each MDB to develop climate change strategies and programs
of actions tailored to their particular client needs, based
on resources and funding mechanisms currently available.
Under the CEIF, the MDBs have strengthened collaboration on
analytical work and programming and committed to expand this
collaboration to optimize the impact of their collective
actions. In addition to reporting on the status of the CEIF,
this report outlines the collective ambition of the MDBs
with respect to assisting the developing countries in
meeting the climate change challenge, summarizes their
evolving strategies designed to meet these objectives and
the mechanisms through which they intend to achieve the
necessary collaboration to optimize the collective impact of
their climate change interventions.
Climate Change and Economic Policies in APEC Economies : Synthesis ReportWorld Bank (World Bank, 2012-03-19)Drawing on several studies on APEC economies, this report discusses economic policy choices for mitigating and adapting to climate change effects. It highlights that APEC economies will have a central role in both sides of climate change. These economies include some of the largest emitters and also those among the most vulnerable to the impact of climate change. The report suggests that action on climate change will require a wide range of economic policy interventions, including most importantly fiscal policies. These will include setting carbon prices that cost emissions properly, liberalizing and strengthening markets so that prices and costs can be passed- through, offsetting other biases towards capital and emissions intensive economic growth and supporting technology based policies. On the adaptation side, the report emphasizes the importance of fiscal policy and investment choice tools that incorporate the uncertainty surrounding the nature and location of climate change effects. The report discusses how emissions reduction through appropriate climate friendly technologies (CFTs) can be an important complement to more politically sensitive mitigation measures (like carbon pricing). At the same time, CFTs can provide co-benefits like rural electrification. The current status of CFTs in APEC economies - their production, use and trade - are discussed along with technology neutral and technology specific policies and trade and investment policies that can support these technologies. Financing these policy interventions - both technology based and otherwise - will require various measures, including efficient market mechanisms that create incentives to reduce mitigation costs, facilitate financing of mitigation efforts through crediting mechanism and emissions trading, and setting up the necessary institutions. This report also considers policy responses to extreme climate events and their impact on the poor at the community level. Finally, since climate change is inherently of a cross-border, regional and even global nature, there is substantial scope for regional cooperation by APEC economies to address climate change issues. This report concludes with some initial thoughts on some key areas for this cooperation.
Climate Change and Fiscal Policy : A Report for APECWorld Bank (World Bank, 2012-03-19)Asia-Pacific Economic Cooperation (APEC) economies display large variation in terms of income per capita. The richest APEC economies have an income per capita about twenty times higher than the poorest ones. So far most work on fiscal policy and climate change has been written with developed economies in mind. This report on the use of fiscal policies for mitigating and adapting to climate change effects corrects that bias with a particular focus on the developing economies of APEC. It also plays close attention to lessons that could be learnt from the advanced economies of APEC and elsewhere. On mitigation, the report notes that achieving the ambitious targets adopted by APEC economies will depend crucially the choice of fiscal policy instruments. These choices will depend, in turn, on the characteristics of developing economies, particularly of their energy sectors. Specifically, mitigation in developing countries requires a broad-based response with four key components. First, carbon pricing will be critical, but will not be sufficient and in some economies and some sectors may have little or no impact due to pre-existing distortions. Second, energy sector reforms that liberalize markets and establish effective regulators so that policies can support appropriate carbon prices and cost pass-through in the energy sector will be key. Third, broader economic reforms may also be important to off-set current bias towards capital and energy intensive economic growth. Fourth, technology-based mitigation policies will also be needed, but, given the mixed track record in this area, must be chosen with care. Given the many uncertainties involved, and the multiple reforms needed, a verifiable quantity anchor for mitigation policy is recommended for developing economies, such as the energy-intensity target recently adopted by China. On the adaptation side, fiscal analysis has so far largely focused on cost projections, but for policy makers adaptation instruments and decision-making tools are as or more important. Adaptation instruments include the provision of public and club goods (such as infrastructure), public sector pricing reform (in particular of water) and financial instruments (microcredit and insurance) which can be cost-effective alternatives to subsidies. Key to the right choice of instruments (which will vary from location to location) will be the correct use of appropriate decision-making tools. In particular, the social costs and benefits of alternative strategies need to be analyzed under conditions of uncertainty, in many ways the hallmark of climate change. Popular tools such as multi-criteria analysis, vulnerability indexes, and cost- effectiveness analysis are inadequate to the task. A combination of Monte Carlo and 'real options' analysis within a cost-benefit framework is recommended for adaptation projects. Examples from a range of economies are provided to demonstrate the utility of such an approach.