This paper builds upon recent work by the US Climate Change Science Program (CCSP). Among its products, the CCSP developed new emission projections for the major man-made greenhouse gases, explored the effects of emission limits on the energy system, and calculated the costs of various...

When dealing with multiple greenhouse gases, we need some way to establish equivalence among gases. The Intergovernmental Panel on Climate Change (IPCC) has suggested the use of global warming potentials (GWPs) for making such trade-offs. We begin by examining the implications of such an...

Despite the US rejection of the Kyoto Protocol, the meeting of the parties to the UN Framework Convention on Climate Change in July 2001 has increased the likelihood that the Protocol will be ratified. This raises a number of issues concerning mitigation costs, particularly for the buyers and...

The UN Framework Convention on Climate Change shifted the attention of the policy community from stabilizing greenhouse gas emissions to stabilizing atmospheric greenhouse gas concentrations. While this represents a step forward, it does not go far enough. We find that, given the uncertainty in...

Critics of the Intergovernmental Panel on Climate Change's Special Report on Emission Scenarios claim that the use of market exchange rates rather than purchasing power parity has led to a significant upward bias in projections of greenhouse gas emissions, and hence unrealistically high future...

A particular ceiling on atmospheric CO2 concentrations can be maintained through a variety of emission pathways. Over the past decade, there has been considerable debate over the characteristics of a least-cost pathway. Some have suggested that a gradual departure from the emissions baseline...