Related papers: Optimal pricing for carbon dioxide removal under i…
The international community aims to limit global warming to 1.5{\deg}C, but little progress has been made towards a global, cost-efficient, and fair climate mitigation plan to deploy carbon dioxide removal (CDR) at the Paris Agreement's…
Until recently, analysis of optimal global climate policy has focused on mitigation. Exploration of policies to meet the 1.5{\deg}C target have brought carbon dioxide removal (CDR), a second instrument, into the climate policy mainstream.…
The electrification of energy demand across sectors, powered by solar and wind generation, is the best strategy for achieving carbon neutrality. Carbon dioxide removal (CDR) strategies are also expected to play a crucial role by providing…
Achieving climate neutrality in Europe requires rapid electrification alongside carbon management strategies for residual emissions. Existing analyses of the European energy system often focus on collocated carbon capture and geological…
The fossil-fuel induced contribution to further warming over the 21st century will be determined largely by integrated CO2 emissions over time rather than the precise timing of the emissions, with a relation of near-proportionality between…
In this paper, we compare different mitigation policies when housing investments are irreversible. We use a general equilibrium model with non-homothetic preferences and an elaborate setup of the residential housing and energy production…
Understanding the similarities and differences of the long term impact of different carbon dioxide removal (CDR) techniques is essential in determining the most effective and sustainable strategies to mitigate climate change. In particular,…
This paper studies how household heterogeneity affects the level and cyclical behavior of the optimal carbon tax in a real economy. We demonstrate that an equity-efficiency trade-off arises due to income inequality and heterogeneity in the…
When large surface areas of the Earth are altered, radiative forcing due to changes in surface reflectance can drive climate change. Yet to achieve the necessary scale to remove the substantial amounts of carbon dioxide from the atmosphere…
The dual challenge of decarbonizing the economy and meeting rising global energy demand underscores the need for scalable and cost-effective carbon dioxide removal technologies. Direct air capture (DAC) is among the most promising…
How should nations price carbon? This paper examines how the treatment of global inequality, captured by regional welfare weights, affects optimal carbon prices. I develop theory to identify the conditions under which accounting for…
Achieving net-zero carbon emissions requires a transformation of energy systems, industrial processes, and consumption patterns. In particular, a transition towards that goal involves a gradual reduction of excess carbon emissions that are…
More than 10 billion tons of construction and demolition waste (CW) are generated globally each year, exerting a significant impact on the environment. In the CW recycling process, the government and the carrier are the two primary…
How should taxes on externality-generating activities be adjusted if they are regressive? In our model, the government raises revenue using distortionary income and commodity taxes. If more or less productive people have identical tastes…
It is now accepted that gigatonnes of Carbon Dioxide Removal (CDR) from the atmosphere are needed to avoid the threat of catastrophic climate change. Direct Air Capture (DAC) is a promising scalable CDR with a relatively small environmental…
There are many published estimates of the social cost of carbon. Some are clear outliers, the result of poorly constrained models. Percentile winsorizing is an option, but I here propose conceptual winsorizing: The social cost of carbon is…
Enhanced weathering (EW) is a promising modification to current agricultural practices that uses crushed silicate rocks to drive carbon dioxide removal (CDR). If widely adopted on farmlands, it could help achieve net-zero or negative…
Current decarbonization efforts are falling short of meeting the net-zero greenhouse gas (GHG) emission target, highlighting the need for substantial carbon dioxide removal methods such as direct air capture (DAC). However, integrating DACs…
Unless there is immediate, unprecedented, reduction in global demand for carbon-intensive energy and products, then capture and permanent storage of billions of tonnes of carbon dioxide (CO2) annually will be needed before mid-century to…
A first-order analysis concludes it is feasible to store the carbon needed to meet the Paris targets in structural materials and use less energy and at a lower cost than our use of extractive materials, steel, aluminum, and concrete.…