By Carlo Carraro (auth.), Carlo Carraro (eds.)
Efficiency and fairness of weather swap Policy is a finished evaluate of the commercial results of weather switch coverage, addressing the problems with a quantitative modelling procedure. The ebook hence is going past the standard statements at the potency of financial tools to spot the way in which earnings and losses are disbursed; who profits and who loses. either the prices and merits of weather switch guidelines are analyzed. such a lot papers additionally supply worthwhile info at the fiscal beneficial properties of the Kyoto Protocol, its attainable extensions, and the influence of alternative implementation thoughts (such because the debate on emissions buying and selling ceilings).
Readership: Scientists and coverage makers, scholars and experts in weather comparable industries, individuals of NGOs, and coverage advisors.
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Extra info for Efficiency and Equity of Climate Change Policy
S. Grepperud and S. Kverndokk, Optimal climate policy under the possibility of a catastrophe. Statistics Norway. February 1998. 51. Kelly, D. and C. Kolstad, Bayesian learning and accumulation of stock externalities. UC-Santa Barbara. 1996. 52. One guess is that carbon leakage would probably be between 10% and 50%. , International competitiveness and national plans. University of Colorado, 1995. 53. See the recent ideas by Hahn, Rand R Stavins, Thoughts on designing an international greenhouse gas trading system.
55 But serious uncertainties remain about how to measure and account for estimates of net carbon. For example, how forest management activities affect soil carbon is unknown, and since forest soils contain over 50% of the total stored forest carbon in the US, this difference can have a significant impact on estimates. Also, some researchers have shown that sinks are not as effective as predicted when one accounts for the interaction of forest reserves and the timber market. The more land that is set aside for carbon sinks, the quicker the cycle of harvesting on other forestland, and the less total net carbon sequestration.
But does this mean that society is on the cusp of catastrophe? Not necessarilythe doomsayers have a terrible track record. g. a nuclear power accident. 43 When the outcome is potentially very bad, people inflate the chance Benefits and costs of Kyoto 31 that the outcome will be realized. Policy makers are not immune to this human fallibility either. Overestimation of risk can multiply throughout the general public. For example, people pondering the storage of nuclear waste can transform images of a fortified storage facility containing sanitized, air-tight receptacles into an abandoned dump site teeming with rusty, leaking vats of toxic material.