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[en] With the recent progress in Bonn and Marrakech on the details required for implementing the Kyoto Protocol, entry into force in 2003 is now a possibility. This paper assesses the potential macroeconomic impacts of the Kyoto Protocol, given the recent negotiated developments. In addition, given the recent attempts in the literature to model endogenous technical change in general equilibrium models, a new methodology for incorporating the induced innovations hypothesis into a general equilibrium model is described and implemented. In line with previous work, it is found that incorporation of the hypothesis reduces abatement costs. (author)
[en] The present paper reviews the international climate change financial framework and aims at providing insights on its future post-2012 development. This study offers an overview of the good attributes and distortions of the current regime, while investigating the work currently done by many countries and international organisation, in proposing unique and original financial schemes for a post-Kyoto agreement. The objective is to define potential strengths and shortcomings of the current (or projected) financial regime, and put this in relation with the creation of an improved new financing scheme, that could transfer sufficient resources from North to South in an efficient, transparent and participatory way. Indeed, international climate change negotiations are now working in this direction, and the regular submissions from Parties and civil society to the UNFCCC's AWG-LCA witness the desire of governments and organisations to achieve an innovative climate change agreement that could overcome existing weaknesses in the global financial structure, while providing nations with suitable tools to handle the adverse consequences of climatic modifications. The paper will additionally focus on the role of CDM and credit-based mechanisms in a new future financial framework, in consideration of needed improvements in the current international credit system and country visions and AWG-LCA submissions.
[en] This paper gathers results from 25 models of the market for tradable greenhouse gas (GHG) emission permits under the Kyoto Protocol. Due to diverging projections of emissions growth and different modeling approaches, the model results differ substantially. The average market volume is approximately 17 and 33 billion USD under global trading and Annex B trading, respectively. Including non-carbon GHG lowers compliance costs and permit prices. In the absence of the US, permit demand roughly equals 'hot air' from the former Soviet Union. These countries can increase their revenues from selling permits by restricting supply, which raises the permit price
[en] While uptake of renewable energies as a solution to climate change is widely discussed, the issue of public vs. private financing is not yet adequately explored. The debates over the Kyoto Protocol and its successor, culminating in the COP15 Climate Change Conference in Copenhagen in December 2009, maintained a strong preference for public over private financing. Yet it is also clear to most observers that the energy revolution will never happen without the involvement of private finance to drive private investment. In this Viewpoint, we discuss the ways in which private financing could be mobilized to drive the energy industrial revolution that is needed if climate change mitigation is to succeed.
[en] The European Union (EU) Commission has adopted a Green Paper to prepare the introduction of greenhouse gas (GHG) emissions trading as a potential tool for climate change policy within the EU. When similar action was undertaken in the US Acid Rain Program in the beginning of the 1990s, the most controversial feature was that of initial allocation of permits. However, in the EU context, the political and economic implications have not been discussed in detail yet. Therefore, our contribution is to focus on a politically feasible allocation method by considering how these GHG permits should be allocated at both the national and at the power plant level. Our policy recommendation is twofold. First, a proportional rollback of the emissions defined by the Burden Sharing Agreement is a suitable starting point concerning allocation at the national level. Second, a common grandfathered distribution principle, such as an allocation of permits to individual power plants based on a percentage reduction of the current size of emissions, is to be preferred over an allocation principle based on past emissions. (author)
[en] The clean development mechanism (CDM) is a global collaborative action proposed at the Kyoto Protocol in response to climate change issues. The CDM contributes to cost-efficient reduction of greenhouse gas emissions in industrialized countries and promotes sustainable development in developing countries. Its fundamental framework is based on partnerships between industrialized and developing countries. This study employs social network analysis to investigate the dynamics of the partnership networks observed in 3816 CDM projects registered in the database of the United Nations Framework Convention on Climate Change over the period of 2005 to 2011. Our three main findings can be summarized as follows. First, the CDM partnership network is a small world; however, its density tends to decrease as the number of participants for a CDM project decreases. Second, the partnership networks’ leading groups tend to shift from partner countries into host countries. Third, a host country that pursues more partnership-based projects takes better control of resources and knowledge-flow in the ego-network formed around that country, and can thus better utilize global resources for its CDM projects. - Highlights: ► We investigate dynamics of the international partnership networks of CDM projects. ► The density of CDM networks tends to decrease by time. ► The partnership networks’ leading groups tend to shift into host countries. ► A host country with more partnerships better utilizes global knowledge resources.
[en] Drawing on two conflicting hypotheses from the theoretical literature on lobbying, I consider the strategies applied by interest groups lobbying to influence climate policy in the European Union (EU). The first hypothesis claims that interest groups lobby their 'friends', decision-makers with positions similar to their own. The second claims that interest groups lobby their 'foes', decision-makers with positions opposed to their own. Using interviews with lobbyists and decision-makers, I demonstrate that in the field of climate policy, interest groups in the EU lobby both friends and foes, but under different conditions. Moreover, I find that the interest groups' motives are not always in line with the theoretical hypotheses. Interest groups lobby their friends on single policy decisions to exchange information, to further a common cause and to exert pressure, and their foes because a foe on one issue might prove to be a friend on another issue. Interest groups direct general lobbying towards both friends and foes. This paper provides a new empirical contribution to a literature that has so far been heavily dominated by studies focusing on lobbying in the US
[en] In November 2000, just after the presidential elections in the United States, negotiators will meet in The Hague at the sixth meeting of the Conference of Parties (COP6) to the United Nations Framework Convention on Climate Chang the Kyoto Protocol on global climate change at COP3, which was held in Kyoto in December 1997. Intense negotiations over the intervening period have focused on how to implement the Kyoto Protocol. The Kyoto Protocol has been signed by 84 countries but not ratified by any of the key countries, and ratification does not appear to be imminent, especially in the United Sates, where the Senate has registered its strong opposition. (author)