Related papers: The fiscal implications of stringent climate polic…
The Global Methane Pledge and other methane measures may potentially undermine CO2 mitigation in certain countries, unless they are considered as additional to the existing Nationally Determined Contributions to strengthen overall…
Earlier meta-analyses of the economic impact of climate change are updated with more data, with three new results: (1) The central estimate of the economic impact of global warming is always negative. (2) The confidence interval about the…
A transition to a fully global renewable energy infrastructure is potentially possible in no more than a few decades, even using current wind/solar technologies. We demonstrate that at its completion this transition would terminate…
We propose to explore the sustainability of climate policies based on a novel commitment metric. This metric allows to quantify how future generations' scope of action is affected by short-term climate policy. In an example application, we…
The European Union Emissions Trading System is set to substantially increase the effective carbon price faced by airlines. To quantify the impact of this carbon regulation on the European airline industry, we estimate a two-stage model of…
Europe's contribution to global warming will be determined by the cumulative emissions until climate neutrality is achieved. In this paper, we investigate alternative transition paths under carbon budgets corresponding to temperature…
We propose two general equilibrium models, quota equilibrium and emission tax equilibrium. The government specifies quotas or taxes on emissions, then refrains from further action. Quota equilibrium exists; the allocation of emission…
The International Air Transport Association (IATA) is one of several organizations that have presented goals for future CO2 emissions from commercial aviation with the intent of alleviating the associated environmental impacts. These goals…
The IPCC AR6 assessment of the impacts and risks associated with projected climate changes for the 21st century is both alarming and ambiguous. According to computer projections, the global surface may warm from 1.3 to 8.0 {\deg}C by 2100,…
Using feedback-free estimates of the warming by increased atmospheric carbon dioxide (CO2) and observed rates of increase, we estimate that if the United States (U.S.) eliminated net CO2 emissions by the year 2050, this would avert a…
As an important step to fulfill the Paris Agreement and achieve net-zero emissions by 2050, the European Commission adopted the most ambitious package of climate impact measures in April 2021 to improve the flow of capital towards…
Carbon dioxide removal (CDR) moves atmospheric carbon to geological or land-based sinks. In a first-best setting, the optimal use of CDR is achieved by a removal subsidy that equals the optimal carbon tax and marginal damages. We derive…
In the context of the Paris Agreement, Chile has pledged to reduce Greenhouse Gases (GHG) intensity by at least 30% below 2007 levels by 2030, and to phase out coal as a energy source by 2040, among other strategies. In pursue of these…
Through its initiative known as the Climate Change Act (2008), the Government of the United Kingdom encourages corporations to enhance their environmental performance with the significant aim of reducing targeted greenhouse gas emissions by…
Cost optimal scenarios derived from models of a highly renewable electricity system depend on the specific input data, cost assumptions and system constraints. Here this influence is studied using a techno-economic optimisation model for a…
Premium air travel is often associated with a disproportionately large carbon emissions footprint. This association reflects the increased space and amenities typically found in premium cabins that existing discourse suggests makes their…
Ambitious targets for renewable energy and CO2 taxation both represent political instruments for decarbonisation of the energy system. We model a high number of coupled electricity and heating systems, where the primary sources of CO2…
We estimate the national social cost of carbon using a recent meta-analysis of the total impact of climate change and a standard integrated assessment model. The average social cost of carbon closely follows per capita income, the national…
Responses to the global climate crisis often focus on the largest current emitters of greenhouse gases. However, analysis shows that about a third of emissions come from a collection of small emitters, each contributing one- to two-percent…
The most serious threat to ecosystems is the global climate change fueled by the uncontrolled increase in carbon emissions. In this project, we use mean field control and mean field game models to analyze and inform the decisions of…