Since more than 40 countries have already implemented carbon pricing policies of some kind, there is much that other countries contemplating new policies could learn from their experience. Insights from a detailed review of current emissions trading systems (ETS) indicate that institutional learning from within or outside respective jurisdictions, administrative prudence in implementing and managing […]Read More Carbon Pricing in Practice: Lessons from Existing ETS Regimes
Along with the Global Environment Facility (GEF), the Green Climate Fund (GCF or the Fund hereafter) serves as an operating entity under the United Nations Framework Convention on Climate Change (UNFCCC) financial mechanism. The GCF became fully operational in 2015 and has thus far disbursed US $147.7 million (as of April 2018) in funds for […]Read More Capitalise, Leverage, and Diversify: Africa’s GCF Portfolio and Opportunities for Engagement
An effective system for monitoring, reporting and verification (MRV) is the cornerstone of any carbon emissions trading scheme (ETS). A key feature of a robust MRV system is that it should be built on general monitoring and reporting principles such as completeness, accuracy, consistency and transparency. Such a robust MRV system is essential for the […]Read More China’s National ETS: What are the Key Challenges for Establishing an MRV System?
When people think of Russia and the environment, they tend to think of the big, environmental catastrophes of the Soviet past such as Chernobyl and more recent issues like illegal logging, and hydrocarbon exploration in the Arctic. However, the domestic politics and policy processes surrounding these issues are far more complex and nuanced than they […]Read More A Dirty Business: Russia, Climate Change and the Mining Industry
The fundamental goal of climate policy is to incentivise emissions reductions and the transition to lower carbon processes and technologies. When firms face new costs related to reducing carbon emissions, they may suffer some loss of financial condition as they restructure their businesses. However, if the firm becomes bankrupt as a result of such policies, […]Read More Empirical Calibration of Climate Policy using Corporate Solvency
Perhaps the most widely debated event in global climate policy since the Paris Agreement’s adoption in 2015 was the United States’ decision in June 2017 to withdraw from the treaty, pending possible re-engagement under different terms. When the announcement was on the cards, some commentators argued that the US would be ‘better out than in’, […]Read More Assessing the US Retreat from the Paris Agreement: Backtracking to Kyoto?
It is recognised in the climate science community that literature and research informing the Intergovernmental Panel on Climate Change (IPCC) and relevant policymakers is heavily weighted towards Integrated Assessment Modelling (IAM) work. This prioritises emission-cutting solutions that can be more easily characterised and quantified over those that are challenging to evaluate precisely, such as how […]Read More What if Negative Emissions Fail at Scale?
The question of how to differentiate efforts fairly has always been central and controversial in UN climate negotiations. The UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol, and the Paris Agreement include different formulations and compromises relating to the distribution of efforts between parties. In a new study published in Climate Policy, we […]Read More Fairness in the Eyes of Parties to the Paris Agreement: What Explains Divergences?
The surge in transnational governance schemes led by non-state actors can be traced back to the incipient globalisation that followed the liberalisation of trade markets in the mid-1970s. These schemes provide public goods, thus complementing – and sometimes replacing – traditional, state actor-led governance schemes. A diverse set of reasons move non-state actors to engage […]Read More Non-State Actors are Here to Stay, but Delivery Mechanisms Need Improvement
As the first climate change negotiations after December’s landmark Paris Agreement open in Bonn this week, controversies around levels of funding for poorer countries to fight climate change may re-emerge. The absence of internationally-agreed accounting rules for climate finance makes it harder to establish whether promises are being met and which countries are doing their part. Most debates […]Read More Climate Finance: Time to Know Who Gives What