“The virtues are lost in self-interest as rivers are lost in the sea” Franklin D. Roosevelt “Governing for the future is … difficult because it rubs up against the short-termism that is inherent in the politics of the electoral cycle. Its difficulty is compounded when governing for the future involves painful choices in the present” House of Commons, […]Read More Aligning Climate Action with National Interest and the Short-Term Focus of Governments
The Clean Power Plan (CPP) was the regulatory cornerstone of the U.S.’ Intended Nationally Determined Contribution (INDC) to reduce greenhouse gas (GHG) emissions that was included in the Paris Agreement of December 2015. The CPP was designed by the Environmental Protection Agency (EPA) after President Obama directed the agency to do so in June 2013, […]Read More The U.S. Clean Power Plan: Design and Challenges to Core Stakeholder Participation
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
For global climate change, a big challenge is that China (specifically Mainland China as referred to in this blog post) has been rapidly growing to become the world’s largest energy consumer and CO2 emitter, now equivalent to the combined size of the United States and the European Union. A bigger challenge is that China is […]Read More The Battle of Economic Structure and China’s Future Carbon Emissions
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?
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
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 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