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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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Mitigating Climate Change in the Context of Incomplete Carbon Pricing Coverage

Issues and Policy Options

This chapter identifies a number of issues that arise when carbon pricing coverage is incomplete. These include unexploited cheap options for GHG emissions reduction, carbon leakage and competitiveness concerns. A number of policies that have been suggested to address these issues, such as countervailing duties on imports or border tax adjustments and free allocation of permits (‘grandfathering’), are closely examined. The chapter also assesses the role that Reducing Emissions from Deforestation and forest Degradation (REDD) can play, and discusses the main implementation issues and options for financing mechanisms for REDD.

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