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Investments and Financial Flows Induced by Climate Mitigation Policies AgEcon
Bastianin, Andrea; Favero, Alice; Massetti, Emanuele.
In this paper we use the hybrid integrated model WITCH to quantify and analyze the investments and financial flows stimulated by a climate policy to stabilize Greenhouse Gases concentrations at 550ppm CO2-eq at the end of the century. We focus on investments to decarbonize the power sector and on investments in knowledge creation. We examine the financial flows associated with the carbon market and the implications for the international trade of oil. Criticalities in investment requirements will emerge when coal power plants with carbon capture and sequestration and nuclear power plants are deployed around 2020-2040, both in high and low income regions. Investments in energy related R&D increase sharply and might cause stress in the short term....
Tipo: Working or Discussion Paper Palavras-chave: Climate Change; Mitigation; Carbon Finance; Emission Trading; Energy Investments; Environmental Economics and Policy; Q01; Q43; Q54; O32; O11.
Ano: 2010 URL: http://purl.umn.edu/59418
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Fairness, Credibility and Effectiveness in the Copenhagen Accord: An Economic Assessment AgEcon
De Cian, Enrica; Favero, Alice.
State-of-the-art literature on climate change policies has proposed numerous approaches for the Post-Kyoto agreement. However, in analysing the outcome of negotiations, the feeling is that a huge gap exists between policy makers and scientists. This paper tries to bridge this gap by providing a critical and comparative analysis of the Copenhagen Accord provisions, linking them to a part of the climate-economy literature. It assesses Copenhagen outcome in terms of economic efficiency, environmental effectiveness and political credibility. Our conclusion suggests that the Copenhagen Accord succeeded in considering some of the climate policy principles, namely credibility, equity and fairness. First, the change in political leadership indicates a more...
Tipo: Working or Discussion Paper Palavras-chave: International Climate Policy Architecture; Integrated Assessment Model; Post-Kyoto; Environmental Economics and Policy; Q54; Q56; Q43.
Ano: 2010 URL: http://purl.umn.edu/59478
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