The Economics and Politics of Climate Change

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The international framework for a climate change agreement is up for review as the initial Kyoto period comes to an end in 2012. Although there has been much enthusiasm from political and environmental groups, the underlying economics and politics remain highly controversial. This book takes a cool headed look at the critical roadblocks to agreement. It examines the economics of climate change and the incentives of the main players (the, EU, and China), and considers the policies that governments can put in place to reduce greenhouse gas emissions and ultimately shift our economies onto a low-carbon path.

The volume brings together leading climate change policy experts to set out the economic analysis and the nature of the negotiations at Copenhagen. It looks at the costs and benefits of climate change and policy responses in relation to the diverse perspectives of the US, China, Europe, and Africa, and it provides a building block to considering the prospects for a new global agreement and the very different interests that will have to be reconciled at Copenhagen and beyond. In addition to reviewing the main issues, the chapters critically assess prevailing wisdom within climate change social science, and debate the Stern Report's main findings.

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Product Details

  • ISBN-13: 9780199573288
  • Publisher: Oxford University Press, USA
  • Publication date: 2/1/2010
  • Pages: 538
  • Product dimensions: 6.40 (w) x 9.20 (h) x 1.60 (d)

Meet the Author

Dieter Helm holds a number of advisory board appointments, including Chairman of the Academic Panel of the Department of Environment, Food and Rural Affairs and member of the Advisory Panel on Energy and Climate Security, Department for Energy and Climate Change. He was a member of the DTI Sustainable Energy Policy Advisory Board 2002-7 and of the Prime Minister's Council of Science and Technology 2004-7. He is an associate editor of the Oxford Review of Economic Policy. Dieter Helm's career to date has spanned academia, public policy, and business. He founded Oxera in 1982 and has published extensively on environmental, energy, infrastructure, and regulation topics.

Cameron Hepburn has advised several governments and international institutions on climate and environmental policy, and he currently serves on UK Defra's Academic Panel. He is an Associate Editor of the Oxford Review of Economic Policy, a Research Fellow at New College, Oxford, and he has over a decade's experience working on environmental issues and climate change, with a particular focus on emissions trading and carbon markets. He holds a DPhil (PhD) in economics from Oxford, and undergraduate degrees in law and engineering from the University of Melbourne.

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Table of Contents

List of Figures x

List of Tables xii

List of Boxes xiv

List of Contributors xv

1 Introduction Dieter Helm Cameron Hepburn 1

Part I Revisiting The Economics Of Climate Change

2 Climate-change Policy: Why has so Little been Achieved? Dieter Helm 9

3 The Global Deal on Climate Change Cameron Hepburn Nicholas Stern 36

4 Climate Treaties and the Imperative of Enforcement Scott Barrett 58

5 The Implications of Rapid Development for Emissions and Climate-change Mitigation Ross Garnaut Stephen Howes Frank Jotzo Peter Sheehan 81

6 The Behavioural Economics of Climate Change Kjell Arne Brekke Olof Johansson-Stenman 107

Part II The Global Players And Agreements

7 Climate Change and Africa Paul Collier Gordon Conway Tony Venables 125

8 China's Balance of Emissions Embodied in Trade: Approaches to Measurement and Allocating International Responsibility Jiahua Pan Jonathan Phillips Ying Chen 142

9 India and Climate-change Mitigation Vijay Joshi Urjit R. Patel 167

10 Addressing Climate Change with a Comprehensive US Cap-and-trade System Robert N. Stavins 197

11 EU Climate-change Policy-A Critique Dieter Helm 222

Part III Low-Carbon Technologies

12 Nuclear Power, Climate Change, and Energy Policy Dieter Helm 247

13 Carbon Dioxide Capture and Storage Howard Herzog 263

14 Climate-change Mitigation from Renewable Energy: Its Contribution and Cost Richard Green 284

15 The National Inventory Approach for International Forest-carbon Sequestration Management Krister P. Andersson Andrew J. Plantinga Kenneth R. Richards 302

16 On the Regulation of Geoengineering David G. Victor 325

17 Improving Energy Efficiency: Hidden Costs and UnintendedConsequences Steve Sorrell 340

Part IV National and International Instruments

18 Carbon Taxes, Emissions Trading, and Hybrid Schemes Cameron Hepburn 365

19 Docking into a Global Carbon Market: Clean Investment Budgets to Finance Low-carbon Economic Development Gernot Wagner Nathaniel Keohane Annie Petsonk James S. Wang 385

20 International Carbon Finance and the Clean Development Mechanism Cameron Hepburn 409

Part V Institutional Architecture

21 The Global Climate-change Regime: A Defence Joanna Depledge Farhana Yamin 433

22 Governing Climate Change: Lessons from other Governance Regimes Arunabha Ghosh Ngaire Woods 454

Bibliography 478

Index 521

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