Sector-based approach to the post-2012 climate change policy architecture
A sectoral approach to GHG emissions reductions in developing countries is proposed as a key component of the post-2012 climate change mitigation framework. In this approach, the ten highest-emitting developing countries in the electricity and other major industrial sectors pledge to meet voluntary, 'no-lose' GHG emissions targets in these sectors. No penalties are incurred for failing to meet a target, but emissions reductions achieved beyond the target level earn emissions reduction credits (ERCs) that can be sold to industrialized nations. Participating developing countries establish initial 'no-lose' emissions targets, based upon their national circumstances, from sector-specific energyintensity benchmarks that have been developed by independent experts. Industrialized nations then offer incentives for the developing countries to adopt more stringent emissions targets through a 'Technology Finance and Assistance Package', which helps to overcome financial and other barriers to technology transfer and deployment. These sectorspecific energy-intensity benchmarks could also serve as a means for establishing national economy-wide targets in developed countries in the post-2012 regime. Preliminary modelling of a hybrid scenario, in which Annex I countries adopt economy-wide absolute GHG emissions targets and high-emitting developing countries adopt 'no-lose' sectoral targets, indicates that such an approach significantly improves the likelihood that atmospheric concentrations of CO<sub>2</sub> can be stabilized at 450 ppmv by the end of the century.
Year of publication: |
2008
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Authors: | SCHMIDT, JAKE ; HELME, NED ; LEE, JIN ; HOUDASHELT, MARK |
Published in: |
Climate Policy. - Taylor & Francis Journals, ISSN 1469-3062. - Vol. 8.2008, 5, p. 494-515
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Publisher: |
Taylor & Francis Journals |
Saved in:
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