Integrated Assessments of Climate Change Policy: Intergenerational Equity and Discounting

Tóth, Ferenc L.

doi:10.2139/ssrn.200612

Cited by 6 publications

(6 citation statements)

References 27 publications

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“…These families are connected by a series of intergenerational transfers to their children who in turn give to their children, etc. Although there has been criticism of this approach, there is at least some agreement that this abstraction represents a convenient framework for long-term analysis (Manne 1995;Stephane et al 1997;To´th 2000). 8 One deficiency from the perspective of environmental economics is the absence of explicit consideration of stocks and flows of environmental assets.…”

Section: Interpretation and Extensionsmentioning

confidence: 99%

Declining Discount Rates: The Long and the Short of it

Groom

Hepburn

Koundouri

et al. 2005

Environ Resource Econ

161

112

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The last few years have witnessed important advances in our understanding of time preference and social discounting. In particular, several rationales for the use of time-varying social discount rates have emerged. These rationales range from the ad hoc to the formal, with some founded solely in economic theory while others reflect principles of intergenerational equity. While these advances are to be applauded, the practitioner is left with a confusing array of rationales and the sense that almost any discount rate can be justified. This paper draws together these different strands and provides a critical review of past and present contributions to this literature. In addition to this we highlight some of the problems with employing DDRs in the decision-making process, the most pressing of which may be time inconsistency. We clarify their practical implications, and potential pitfalls, of the more credible rationales and argue that some approaches popular in environmental economics literature are ill-conceived. Finally, we illustrate the impact of different approaches by examining global warming and nuclear power investment. This includes an application and extension of Newell and Pizer [‘Discounting the benefits of climate change mitigation : how much do uncertain rates increase valuations?’ Journal of Environmental Economics and Management 46 (2003) 52] to UK interest rate data. Copyright Springer 2005global warming, intergenerational equity, social cost benefit analysis, time inconsistency, uncertainty, time varying discount rates,

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Section: Interpretation and Extensionsmentioning

confidence: 99%

Declining Discount Rates: The Long and the Short of it

Groom

Hepburn

Koundouri

et al. 2005

Environ Resource Econ

161

112

View full text Add to dashboard Cite

show abstract

“…In particular, marginal abatement costs in the Rest of the World and China become larger, at least in the long run, than marginal abatement costs in Japan and the EU. These implications are hardly justifiable and in contrast with the results contained in all existing economic models of climate (see [50] for a survey).…”

Section: Incentives To Sign and Ratify The Kyoto Protocolmentioning

confidence: 78%

Can Equity Enhance Efficiency? Lessons from the Kyoto Protocol

et al. 2001

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This paper analyses the relationship between different equity rules and the incentives to sign and ratify a climate agreement. A widespread conjecture suggests that a more equitable distribution of the burden of reducing emissions would enhance the incentives for more countries -particularly big emitters -to accept an emission reduction scheme defined within an international climate agreement. This paper shows that this conjecture is only partly supported by the empirical evidence that can be derived from the Kyoto Protocol.Even though more equitable burden sharing rules provide better incentives to sign and ratify a climate agreement than the burden-sharing rule implicit in the Kyoto Protocol, a stable global agreement cannot be achieved. A possible strategy to achieve a global agreement without free-riding incentives is a policy mix in which global emission trading is coupled with a transfer mechanism designed to offset incentives to free ride.

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“…In these circumstances, not including the anticipation of Climate Change (CC) and the adoption of Carbon Finance (especially the CO2 exchange system) will increase the risk of making our existence vulnerable to uncertainties while eliminating the actions and carbon transactions available to Sustainable Finance and Sustainable Development (SD). It seems very useful to inject less GHGs in absolute terms, but the real challenge is to reduce the GHGs to a threshold that limits the rise in temperature to 2°C (Toth, 1999). To carry out our study, we decided to treat each period of the EU ETS in a different way according to their specificities and the academic work already carried out.…”

Section: Iii2 Analysis and Validation Of The Results Of The Econometmentioning

confidence: 99%

Multivariate Analysis of a Time Series EU ETS: Methods and Applications in Carbon Finance

Boutti¹

2019

FMIR

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Climate Change (CC) is a major issue of our century. Controlling the constraints of Greenhouse Gas (GHG) emissions through transformation into opportunities (Wettestad and Skjaerseth, 2007), in an organization to increase industrial production, has become a necessity. The main reason for this adoption was the effectiveness of energy management and responsible linkages that are being developed to determine the issues and opportunities of carbon finance for organizations. This article is part of the 21st Conference of the Parties 2015 (COP21) of the United Nations Framework Convention on Climate Change (UNFCCC) in France in Paris. In this regard, it is the ultimate opportunity to present an accurate diagnosis of GHG emissions quantification and a holistic review of Climate Change (CC) recommendations. This scientific contribution was, in fact, a natural extension of the 22nd Conference of the Parties (COP22) hosted by the Kingdom of Morocco in Marrakech in 2016. Indeed, COP21 and COP22 Are two crucial deadlines, since they must lead to a new international agreement on climate, applicable to all countries, with the objective of keeping global warming below 2 ° C. This article aims to analyze and study the performance of Carbon Finance in the EU Sustainable Finance Business Emissions Trading Scheme (EU ETS). We will develop our quantitative methodology for the econometric study of the EU Emissions Trading Scheme (EU ETS) for both phases [

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Integrated Assessments of Climate Change Policy: Intergenerational Equity and Discounting

Cited by 6 publications

References 27 publications

Declining Discount Rates: The Long and the Short of it

Declining Discount Rates: The Long and the Short of it

Can Equity Enhance Efficiency? Lessons from the Kyoto Protocol

Multivariate Analysis of a Time Series EU ETS: Methods and Applications in Carbon Finance

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