In 2015, the 21st Conference of the Parties reaffirmed the target of keeping the global mean temperature rise below 2 °C or 1.5 °C by 2100 while finding no consensus on how to decarbonize the global economy. In this regard, the speed of decarbonization reflects the (in)flexibility of...

A review of climate change regulation reveals three historical ages: the age of responsibility, the age of cost-effectiveness, and the age of litigation. The age of responsibility refers to the “common but differentiated responsibility” (CBDR) principle characterized by political...

Swiss targets for climate policy require significant reductions of emissions by 2050. While such reductions can be achieved in a cost-efficient manner by employing taxes on greenhouse gas emissions, such taxes tend to lead to a regressive distribution of policy cost among households. To...

Substantially reducing carbon dioxide (CO2) emissions from electricity production will require a transformation of the resources used to produce power. This paper analyzes the economic consequences of a suite of different flexible and comprehensive policies to reduce CO2 emissions from the power...