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The Economics of Climate Change Mitigation

Policies and Options for Global Action beyond 2012

image of The Economics of Climate Change Mitigation

Against the background of a projected doubling of world greenhouse gas emissions by mid-century, this book explores feasible ways to abate them at least cost. Through quantitative analysis, it addresses key climate policy issues including: an ideal set of climate policy tools; the size of the economic and environmental costs of incomplete country or sector coverage of climate change mitigation policies;  how to concretely develop a global carbon market; the case for, and what can we reasonably expect from, R&D and technology support policies; and  the incentives for major emitting countries to join a climate change mitigation agreement.

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Building Political Support for Global Action

This chapter reviews the climate policy instruments that are already in use or that are planned to start in the near future. This provides a basis for investigating how political support can be built up for global action. It compares mitigation costs and emission reductions (comparability of effort) across countries for a wide range of carbon price levels. It investigates whether the emission reduction targets for 2020 that have been declared or suggested by different countries are sufficient to achieve a pathway consistent with an ambitious GHG stabilisation target. It discusses options for international support, such as financial support for mitigation action in developing countries, technology transfer and support for adapting to a changing climate.

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