The Case for Carbon Pricing

2021 ◽  
pp. 149-181
Author(s):  
Joseph Heath
Keyword(s):  
Climate Change ◽  
Carbon Emissions ◽  
Food Supply ◽  
Future Generations ◽  
Negative Externality ◽  
Gas Emissions ◽  
Carbon Pricing ◽  
Policy Alternative ◽  
Carbon Taxation ◽  
Central Claim

When it comes to responding to the problem of anthropogenic climate change, the overwhelming preference among policy experts is for a system of carbon pricing. This is normally justified on the grounds that it maximizes the welfare of future generations. The objective of this chapter is to provide a philosophical defense of carbon pricing based instead on contractualist foundations. The central claim is that the negative externality of greenhouse gas emissions violates a reciprocity condition that is a central normative constraint in the system of cooperation in our society. A system of carbon taxation is recommended on the grounds that it addresses this externality problem more directly than any other policy alternative. The merits of such a regime are illustrated using the example of agricultural production and the carbon emissions associated with food supply.

scholarly journals Financing Low-Carbon Transitions through Carbon Pricing and Green Bonds

2019 ◽  
Vol 88 (2) ◽  
pp. 29-49 ◽  
Author(s):  
Dirk Heine ◽  
Willi Semmler ◽  
Mariana Mazzucato ◽  
João Paulo Braga ◽  
Michael Flaherty ◽  
...  
Keyword(s):  
Climate Change ◽  
Policy Instruments ◽  
Policy Option ◽  
Phase Changes ◽  
Future Generations ◽  
Burden Sharing ◽  
Environmental Damage ◽  
Low Carbon ◽  
Carbon Pricing ◽  
Mitigation And Adaptation

Summary: To finance the transition to low-carbon economies required to mitigate climate change, countries are increasingly using a combination of carbon pricing and green bonds. This paper studies the reasoning behind such policy mixes and the economic interaction effects that result from these different policy instruments. We model these interactions using an intertemporal model, related to Sachs (2015), which proposes a burden sharing between current and future generations. The issuance of green bonds helps to enable immediate investment in climate change mitigation and adaptation, and the bonds would be repaid by future generations in such a way that those who benefit from reduced future environmental damage share in the burden of financing mitigation efforts undertaken today. We examine the effects of combining green bonds and carbon pricing in a three-phase model. We are using a numerical solution procedure which allows for finite-horizon solutions and phase changes. We show that green bonds perform better when they are combined with carbon pricing. Our proposed policy option appears to be politically more feasible than a green transition based only on carbon pricing and is more prudent for debt sustainability than a green transition that relies overly on green bonds.

scholarly journals Carbon Emissions of Hotels: The Case of the Sri Lankan Hotel Industry

Buildings ◽  
2019 ◽  
Vol 9 (11) ◽  
pp. 227 ◽  
Author(s):  
Udara Willhelm Abeydeera ◽  
Karunasena
Keyword(s):  
Climate Change ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Carbon Emissions ◽  
Global Climate ◽  
Sri Lankan ◽  
Gas Emissions ◽  
Study Approach ◽  
Mitigate Climate Change

The need to mitigate climate change has become a major global concern, and greenhouse gas emissions are a major cause of global climate change. Therefore, the need to curb greenhouse gas emissions has been well recognized by global researchers, policymakers and academics. Carbon emissions of hotel operations have seized the attention of global researchers. However, carbon emissions of the hotels in developing countries remain to be a less explored domain. Therefore, carbon emissions of Sri Lankan hotels were explored using a case study approach. Five hotels in the Colombo suburb were explored, which revealed that each hotel released more than 7000 tons of carbon annually. Results further indicated the use of purchased electricity as the dominant source of carbon emissions. Emissions caused by transport activities were not included in the calculations due to the unavailability of data. Recommendations were made to overcome the issues identified during data collection as well as to reduce the carbon emissions from hotel operations. Wider adoption of the methodology used in this research will benefit the hotels to keep track of the carbon emissions using a systematic approach.

Trying to Find the Right Approach to Greenhouse Economics

1994 ◽  
Vol 16 (2) ◽  
Author(s):  
Clive L. Spash
Keyword(s):  
Climate Change ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Global Climate Change ◽  
Global Climate ◽  
Future Generations ◽  
Neoclassical Economic ◽  
Gas Emissions ◽  
Global Problem ◽  
The Right

AbstractThe approach to controlling greenhouse gas emissions suggested by simple neoclassical economic models has appeared in prominent mainstream journals. This entails weighing up the costs of control compared to the benefits of avoiding damages due to global climate change. This paper presents a critique of extending the microeconomic project based methodology to a complex global problem; raising issues of uncertainty and ignorance. An alternative to simple utilitarianism is seen to be necessary and the potential of a deontological approach is argued to be greater with regard to policy decisions concerning future generations.

scholarly journals Assessing “Dangerous Climate Change”: Required Reduction of Carbon Emissions to Protect Young People, Future Generations and Nature

PLoS ONE ◽  
2013 ◽  
Vol 8 (12) ◽  
pp. e81648 ◽  
Author(s):  
James Hansen ◽  
Pushker Kharecha ◽  
Makiko Sato ◽  
Valerie Masson-Delmotte ◽  
Frank Ackerman ◽  
...  
Keyword(s):  
Climate Change ◽  
Young People ◽  
Carbon Emissions ◽  
Future Generations ◽  
Dangerous Climate Change

scholarly journals Greening the future: a case for environmental impact bonds

2017 ◽  
Vol 13 (2) ◽  
Author(s):  
David Hall
Keyword(s):  
Climate Change ◽  
Carbon Dioxide ◽  
Environmental Economics ◽  
Future Generations ◽  
Negative Externality ◽  
Negative Consequences ◽  
Costs And Benefits ◽  
Long Run ◽  
Emission Of Greenhouse Gases ◽  
Impacts Of Climate Change

A central puzzle for environmental economics is how to integrate long-run costs and benefits into present-day decision making. Commonly this puzzle is described in terms of externalities. These occur when ‘an activity or transaction by some party causes an unintended loss or gain in welfare to another party, and no compensation for the change in welfare occurs’ (Daly and Farley, 2011, p.184). For example, the millions of tonnes of carbon dioxide that a large coal-fired power plant releases annually contributes to the cumulative problem of climate change, yet those who profit from producing electricity do not bear the burden of the negative consequences. Rather, these costs fall disproportionately upon future generations and communities uniquely vulnerable to the impacts of climate change. Thus, the emission of greenhouse gases creates a negative externality, because its costly impacts are external to the accounting of the actors who emit them. 

scholarly journals Development of Carbon Emissions Trading in Canada

2009 ◽  
Vol 46 (2) ◽  
pp. 377
Author(s):  
John C. Goetz ◽  
Morella M. De Castro ◽  
Gray Taylor ◽  
Karen Haugen-Kozyra
Keyword(s):  
Climate Change ◽  
United Nations ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Carbon Emissions ◽  
Emissions Trading ◽  
Regulatory Framework ◽  
Gas Emissions ◽  
United Nations Framework Convention ◽  
Carbon Emissions Trading

Given the widely accepted belief that climate change is a real and imminent global threat, regulation of greenhouse gas emissions has grown and will continue to develop both in Canada and internationally. The United Nations Framework Convention on Climate Change and the Kyoto Protocol to the United Nations Framework Convention on Climate Change have the objective of attempting to stabilize greenhouse gas emissions at a level that will prevent damage to the earth by limiting human induced emissions. This article canvasses Alberta’s current greenhouse gas emissions regulatory framework and Canada’s proposed regulatory framework for air emissions and considers the potential for harmonization of the federal and provincial systems. Finally, this article explores carbon emissions trading globally, including the voluntary trading market, and considers the future development of carbon emissions trading both in Canada and across the globe.

The Implementation Approach of LCCF Checklist in Development Control: Challenges for policymakers

2019 ◽  
Vol 4 (12) ◽  
Author(s):  
T B A
Keyword(s):  
Climate Change ◽  
Sustainable Development ◽  
Carbon Emissions ◽  
Local Authority ◽  
Survey Methods ◽  
Local Level ◽  
Control Process ◽  
Low Carbon ◽  
Local Authorities ◽  
Development Control

Global warming, climate change is now affecting the world. The effort of the leaders to achieving the sustainable development is from New Urban Agenda (NUA), Sustainable Development Goals (SDG’s) and local level is local authorities.  SDG’s goal number 13 takes urgent action to combat climate change and its impact also SDG’s number 11 to sustainable cities and communities. The gap of this paper  Different cities face different challenges and issues. Local authorities will play a significant role in undertaking policy initiatives to combat carbon emissions of the city. Low Carbon Cities (LCC) is to reduce carbon emissions in all human activities in cities.  The objective of this paper is by applying the LCCF Checklist in planning permission for sustainable development. The methodology of this research is a mixed-method, namely quantitative and qualitative approach. The survey methods are by interview, questionnaire, and observation. Town planners are the subject matter expert in managing the planning permission submission for the development control of their areas. Descriptive statistical analysis will be used to show the willingness of the stakeholders, namely the developers and planning consultants in implementing of the LCCF. The contribution of this research will gauge readiness at the local authorities level. The findings of the LCCF checklist are identified as important in planning permission into the development control process. Surprisingly, that challenges and issues exist in multifaceted policy implementation the LCCF Checklist in a local authority. Finally based on Subang Jaya Municipal Councils, the existing approach in the application of the LCCF Checklist in the development control process will be useful for development control in a local authority towards sustainable development.  

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