The Private Provision of International Impure Public Goods: the Case of Climate Policy

33 p.

International Climate Finance and its Influence on Fairness and Policy

27 p.

The Role of Regions in Climate Change Policy

28 p.

Low Climate Stabilisation under Diverse Growth and Convergence Scenarios

4 p.

The adoption of ecosystem-based adaptation in the international climate agenda

4 p.

Is the current EU climate instrument mix adequate?

4 p.

The Cancun Climate Summit: a Moderate Success

4 p.

International Support of Climate Change Policies in Developing Countries: Strategic, Moral and Fairness Aspects

33 p.

Low Climate Stabilisation under Diverse Growth and Convergence Scenarios

9 p.

Regional IAM: analysis of risk-adjusted costs and benefits of climate policies

23 p.

Implications of governance structures on urban climate action: evidence from Italy and Spain

47 p.

New climate scenario framework implementation in the GCAM integrated assessment model

48 p.

Cost effectiveness of a combination of instruments for global warming: a quantitative approach for Spain

Climate change is an important environmental problem and one whose economic implications are many and varied. This paper starts with the presumption that mitigation of greenhouse gases is a necessary policy that has to be designed in a cost effective way. It is well known that market instruments are the best option for cost effectiveness. But the discussion regarding which of the various market instruments should be used, how they may interact and what combinations of policies should be implemented is still open and very lively. In this paper we propose a combination of instruments: the marketable emission permits already in place in Europe for major economic sectors and a CO(2) tax for economic sectors not included in the emissions permit scheme. The study uses an applied general equilibrium model for the Spanish economy to compute the results obtained with the new mix of instruments proposed. As the combination of the market for emission permits and the CO(2) tax admits different possibilities that depend on how the mitigation is distributed among the economic sectors, we concentrate on four possibilities: cost-effective, equalitarian, proportional to emissions, and proportional to output distributions. Other alternatives to the CO(2) tax are also analysed (tax on energy, on oil and on electricity). Our findings suggest that careful, well designed policies are needed as any deviation imposes significant additional costs that increase more than proportionally to the level of emissions reduction targeted by the EU.

Cost effectiveness of a combination of instruments for global warming: a quantitative approach for Spain

4 p.

Warsaw Conference: “Small steps forward while awaiting major decisions at the 2015 Paris Conference”

6 p.