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A Proposal to Integrate Price Mechanisms into International Climate Negotiations

Morris, Adele; Wilcoxen, Peter; McKibbin, Warwick

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The Parties to the United Nations Framework Convention on Climate Change continue their efforts to forge a new binding international agreement by 2015. This article proposes to adapt international negotiations to allow for hybrid price and quantity-based commitments. The economic risks surrounding target-only commitments—the current approach—are enormous. Combining a clear cumulative emissions target with price-based limits on the cost associated with achieving that target would reduce those...[Show more]

dc.contributor.authorMorris, Adele
dc.contributor.authorWilcoxen, Peter
dc.contributor.authorMcKibbin, Warwick
dc.date.accessioned2015-12-10T22:26:00Z
dc.identifier.issn2050-2680
dc.identifier.urihttp://hdl.handle.net/1885/53728
dc.description.abstractThe Parties to the United Nations Framework Convention on Climate Change continue their efforts to forge a new binding international agreement by 2015. This article proposes to adapt international negotiations to allow for hybrid price and quantity-based commitments. The economic risks surrounding target-only commitments—the current approach—are enormous. Combining a clear cumulative emissions target with price-based limits on the cost associated with achieving that target would reduce those risks, ensure that commitments by Parties remain feasible and reduce the chance that the agreement would collapse. Moreover, we argue that adding prices into the agreement offers transparent and verifiable assurance of the comparability of effort across countries. Finally, we also show that it is possible to calculate ‘carbon price equivalents’of quantity-based climate commitments in a conceptually similar way to the tariff equivalents used in international trade negotiations.
dc.publisherWiley-Blackwell Publishing Asia
dc.rightsAuthor/s retain copyright
dc.sourceAsia & The Pacific Policy Studies
dc.titleA Proposal to Integrate Price Mechanisms into International Climate Negotiations
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume1
dc.date.issued2014
local.identifier.absfor050101 - Ecological Impacts of Climate Change
local.identifier.absfor160507 - Environment Policy
local.identifier.ariespublicationu4430637xPUB281
local.type.statusPublished Version
local.contributor.affiliationMcKibbin, Warwick, College of Asia and the Pacific, ANU
local.contributor.affiliationMorris, Adele, The Brookings Institution
local.contributor.affiliationWilcoxen, Peter, Syracuse University
local.bibliographicCitation.issue3
local.bibliographicCitation.startpage600
local.bibliographicCitation.lastpage608
local.identifier.doi10.1002/app5.55
dc.date.updated2020-12-27T07:31:29Z
local.identifier.thomsonID000218530700012
dcterms.accessRightsOpen Access
CollectionsANU Research Publications

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