Sharing the Burden of GHG Reductions
Abstract and PDF report are also available on the MIT Joint Program on the Science and Policy of Global Change website (http://globalchange.mit.edu/).
| Main Authors: | , , , |
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| Format: | Technical Report |
| Language: | en_US |
| Published: |
MIT Joint Program on the Science and Policy of Global Change
2009
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| Online Access: | http://globalchange.mit.edu/pubs/abstract.php?publication_id=976 http://hdl.handle.net/1721.1/44625 |
| _version_ | 1826214834443649024 |
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| author | Jacoby, Henry D. Babiker, Mustafa M.H. Paltsev, Sergey Reilly, John M. |
| author_facet | Jacoby, Henry D. Babiker, Mustafa M.H. Paltsev, Sergey Reilly, John M. |
| author_sort | Jacoby, Henry D. |
| collection | MIT |
| description | Abstract and PDF report are also available on the MIT Joint Program on the Science and Policy of Global Change website (http://globalchange.mit.edu/). |
| first_indexed | 2024-09-23T16:11:53Z |
| format | Technical Report |
| id | mit-1721.1/44625 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T16:11:53Z |
| publishDate | 2009 |
| publisher | MIT Joint Program on the Science and Policy of Global Change |
| record_format | dspace |
| spelling | mit-1721.1/446252019-04-11T02:09:51Z Sharing the Burden of GHG Reductions Jacoby, Henry D. Babiker, Mustafa M.H. Paltsev, Sergey Reilly, John M. Abstract and PDF report are also available on the MIT Joint Program on the Science and Policy of Global Change website (http://globalchange.mit.edu/). The G8 countries propose a goal of a 50% reduction in global emissions by 2050, in an effort that needs to take account of other agreements specifying that developing countries are to be provided with incentives to action and protected from the impact of measures taken by others. To help inform international negotiations of measures to achieve these goals we develop a technique for endogenously estimating the allowance allocations and associated financial transfers necessary to achieve predetermined distributional outcomes and apply it in the MIT Emissions Prediction and Policy Analysis (EPPA) model. Possible burden sharing agreements are represented by different allowance allocations (and resulting financial flows) in a global cap-and-trade system. Cases studied include agreements that allocate the burden based on simple allocation rules found in current national proposals and alternatives that specify national equity goals for both developing and developed countries. The analysis shows the ambitious nature of this reduction goal: universal participation will be necessary and the welfare costs can be both substantial and wildly different across regions depending on the allocation method chosen. The choice of allocation rule is shown to affect the magnitude of the task and required emissions price because of income effects. If developing countries are fully compensated for the costs of mitigation then the welfare costs to developed countries, if shared equally, are around 2% in 2020, rising to some 10% in 2050, and the implied financial transfers are large—over $400 billion per year in 2020 and rising to around $3 trillion in 2050. For success in dealing with the climate threat any negotiation of long-term goals and paths to achievement need to be grounded in a full understanding of the substantial amounts at stake. Development of the EPPA model used has been supported by the U.S. Department of Energy, U.S. Environmental Protection Agency and U.S. National Science Foundation, and by a consortium of industry and foundation sponsors of the MIT Joint Program on the Science and Policy of Global Change. 2009-02-23T17:42:17Z 2009-02-23T17:42:17Z 2008-11 Technical Report http://globalchange.mit.edu/pubs/abstract.php?publication_id=976 http://hdl.handle.net/1721.1/44625 Report no. 167 en_US ;Report no. 167 application/pdf MIT Joint Program on the Science and Policy of Global Change |
| spellingShingle | Jacoby, Henry D. Babiker, Mustafa M.H. Paltsev, Sergey Reilly, John M. Sharing the Burden of GHG Reductions |
| title | Sharing the Burden of GHG Reductions |
| title_full | Sharing the Burden of GHG Reductions |
| title_fullStr | Sharing the Burden of GHG Reductions |
| title_full_unstemmed | Sharing the Burden of GHG Reductions |
| title_short | Sharing the Burden of GHG Reductions |
| title_sort | sharing the burden of ghg reductions |
| url | http://globalchange.mit.edu/pubs/abstract.php?publication_id=976 http://hdl.handle.net/1721.1/44625 |
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