Although a global cap-and-trade system is seen by many researchers as the most cost-efficient solution to reduce greenhouse gas (GHG) emissions, the governments of developing countries refuse to enter into such a system in the short term. Many scholars and stakeholders, including the European Commission, have thus proposed various types of commitments for developing countries that appear less stringent, such as sectoral approaches. A macroeconomic assessment of such a sectoral approach is provided for developing countries. Two policy scenarios in particular are assessed, in which developed countries continue with Kyoto-type absolute commitments, while developing countries adopt an emissions trading system limited to electricity generation and linked to developed countries' cap-and-trade systems. In the first scenario, CO2 allowances are auctioned by the government, which distributes its revenues as a lump sum to households. In a second scenario, the auction revenues are used to reduce taxes on, or to give subsidies to, electricity generation. The quantitative analysis, conducted with a hybrid general equilibrium model, shows that such options provide almost as much emissions reduction as a global cap-and-trade system. Moreover, in the second sectoral scenario, GDP losses in developing countries are much lower than with a global cap-and-trade system, as is also the effect on the electricity price. 相似文献
In this paper, the interannual variability simulated by the coupled ocean-atmosphere general circulation model of the Institute of Atmospheric Physics (IAP CGCM) in 40 year integrations is analyzed, and compared with that by the corresponding IAP AGCM which uses the climatic sea surface temperature as the boundary condition in 25 year integrations.The mean climatic states of January and July simulated by IAP CGCM are in good agreement with that by IAP AGCM, i.e., no serious ‘climate drift’ occurs in the CGCM simulation. A comparison of the results from AGCM and CGCM indicates that the standard deviation of the monthly averaged sea level pressure simulated by IAP CGCM is much greater than that by IAP AGCM in tropical region. In addition, both Southern Oscillation (SO) and North Atlantic Oscillation (NAO) can be found in the CGCM simulation for January, but these two oscillations do not exist in the AGCM simulation.The interannual variability of climate may be classified into two types: one is the variation of the annual mean, another is the variation of the annual amplitude. The ocean-atmosphere interaction mainly increases the first type of variability. By means of the rotated EOF, the most important patterns corresponding to the two types of interannual variability are found to have different spatial and temporal characteristics. 相似文献
Upon completion, China’s national emissions trading scheme (C-ETS) will be the largest carbon market in the world. Recent research has evaluated China’s seven pilot ETSs launched from 2013 on, and academic literature on design aspects of the C-ETS abounds. Yet little is known about the specific details of the upcoming C-ETS. This article combines currently understood details of China’s national carbon market with lessons learned in the pilot schemes as well as from the academic literature. Our review follows the taxonomy of Emissions Trading in Practice: A Handbook on Design and Implementation (Partnership for Market Readiness & International Carbon Action Partnership. (2016). Retrieved from www.worldbank.org): The 10 categories are: scope, cap, distribution of allowances, use of offsets, temporal flexibility, price predictability, compliance and oversight, stakeholder engagement and capacity building, linking, implementation and improvements.
Key policy insights
Accurate emissions data is paramount for both design and implementation, and its availability dictates the scope of the C-ETS.
The stakeholder consultative process is critical for effective design, and China is able to build on its extensive experience through the pilot ETSs.
Current policies and positions on intensity targets and Clean Development Mechanism (CDM) credits constrain the market design of the C-ETS.
Most critical is the nature of the cap. The currently discussed rate-based cap with ex post adjustment is risky. Instead, an absolute, mass-based emissions cap coupled with the conditional use of permits would allow China to maintain flexibility in the carbon market while ensuring a limit on CO2 emissions.
Oxygen and hydrogen isotopic compositions of meteoric water are known to correlate with surface air temperature, except in tropical areas. This relationship has been described using a number of terms corresponding to specific observations, such as latitude, altitude and seasonal effects. However, these temperature effects do not seem to apply to precipitation in monsoonal areas of Asia. Questions have been raised as to whether the isotopic composition of meteoric water can be used to reconstruct paleomonsoon intensity. Tree rings of two modern spruce trees (Picea meyeri) and a 10,000-yr-old timber (Picea jezoensis) were analyzed for hydrogen isotopic composition. On average, the older tree is depleted in deuterium by 45‰ compared to the modern trees. We attribute this isotopic depletion to the strength of summer monsoons, which were more intense in the early Holocene than at present. Although this study is not definitive, it suggests that paleomonsoon intensity can be reconstructed by direct or proxy methods that yield the oxygen or hydrogen isotopic composition of meteoric water. 相似文献
Emission reductions improve the chances that dangerous anthropogenic climate change will be averted, but could also cause some firms financial distress. Corporate failures, especially if they are unnecessary, add to the social cost of abatement. Social value can be permanently destroyed by the dissolution of organizational capital, deadweight losses paid to liquidators, and unemployment. This article proposes using measures of corporate solvency as an objective tool for policy makers to calibrate the optimal stringency of climate change policies, so that they can deliver the least loss of corporate solvency for a given level of emission reductions. They could also be used to determine the generosity of any compensation to address losses to corporate solvency. We demonstrate this approach using a case study of the UK’s Carbon Price Support (a carbon tax).
Key policy insights
Solvency metrics could be used to empirically calibrate the optimal stringency of climate policies.
An idealized solvency trajectory for firms affected by climate change policy would cause corporate solvency to initially decline – approaching but not exceeding ‘distressed’ levels – and then gradually improve to a new ‘steady state’ once the low-carbon transition had been achieved.
In terms of the UK’s Carbon Price Support, corporate solvency of energy-intensive industries was found to be stable subsequent to its introduction. Therefore, the available evidence does not support its later weakening.