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Carbon Prices are Redundant in the 2030 EU Climate and Energy Policy Package

Aune, Finn Roar - 2019

In June 2018, an agreement between key EU institutions – the Commission, the European Parliament, and the European … Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … comprehensive assessment of the EU package, with its three main targets: lower greenhouse gas emissions, higher renewable share in …

Persistent link: https://www.econbiz.de/10012892222

Will the Centralisation of Carbon Pricing Revenue in the EU Lead to Laxer Climate Policy?

Fuest, Clemens; Meier, Volker - 2021

We analyse the economic impact of using carbon pricing revenue to fund the EU budget. Such a reform would redistribute … implemented, the low carbon countries will prefer a lower carbon price, i.e. laxer climate policy at the EU level, than before the … reform. For high carbon countries the opposite is true. As a result, EU climate policy becomes less ambitious and less …

Persistent link: https://www.econbiz.de/10013235113

Climate Mitigation Policy in Denmark : A Prototype for Other Countries

Batini, Nicoletta; Parry, Ian; Wingender, Philippe - 2021

Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns,...

Persistent link: https://www.econbiz.de/10013245631

Effects of Carbon Pricing and Other Climate Policies on CO 2 Emissions

Kohlscheen, Emanuel; Moessner, Richhild; Takats, Elod - 2021

We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon taxes and emissions trading systems (ETS), as well as...

Persistent link: https://www.econbiz.de/10013323969

Relative Prices and Climate Policy : How the Scarcity of Non-Market Goods Drives Policy Evaluation

Drupp, Moritz A. - 2020

Climate change not only impacts production and market consumption, but also the relative scarcity of non-market goods, such as environmental amenities. We study fundamental drivers of the resulting relative price changes, their potential magnitude, and their implications for climate policy in...

Persistent link: https://www.econbiz.de/10012842678

Simple Rules for Climate Policy and Integrated Assessment

van der Ploeg, Rick - 2018

A simple integrated assessment framework that gives rules for the optimal carbon price, transition to the carbon-free era and stranded carbon assets is presented, which highlights the ethical, economic, geophysical and political drivers of optimal climate policy. For the ethics we discuss the...

Persistent link: https://www.econbiz.de/10012908688

Asset Diversification Versus Climate Action

Hambel, Christoph - 2020

Asset pricing and climate policy are analyzed in a global economy where consumption goods are produced by both a green and a carbon-intensive sector. We allow for endogenous growth and three types of damages from global warming. It is shown that, initially, the desire to diversify assets...

Persistent link: https://www.econbiz.de/10012825992

Should Faustmann Forecast Climate Change?

Gars, Johan - 2019

Climate change is predicted to substantially alter forest growth. Optimally, forest owners should take these future changes into account when making rotation decisions today. However, the fundamental uncertainty surrounding climate change makes predicting these shifts hard. Hence, this paper...

Persistent link: https://www.econbiz.de/10012866409

Climate Policy, Stranded Assets, and Investors' Expectations

Sen, Suphi - 2019

Climate policies to keep global warming below 2℃ might render some of the world's fossil fuels and related infrastructure worthless prior to the end of their economic life time. Therefore, some energy-sector assets are at risk of becoming stranded. This paper investigates whether and how...

Persistent link: https://www.econbiz.de/10012859044

On Differentiated Carbon Prices and Discount Rates

Anthoff, David; Dennig, Francis; Emmerling, Johannes - 2021

The consensus view amongst economists is that carbon prices, in order to be effcient, must be the same across the globe. But when there are inefficiencies in the allocation of capital so that consumers in different countries face different discount rates, we show that efficient carbon prices...

Persistent link: https://www.econbiz.de/10013215895