TITLE

Beyond Copenhagen: a realistic climate policy in a fragmented world

AUTHOR(S)
Carraro, Carlo; Massetti, Emanuele
PUB. DATE
February 2012
SOURCE
Climatic Change;Feb2012, Vol. 110 Issue 3/4, p523
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
In this paper we argue that the financial provisions of the Copenhagen Accord, if used primarily to mitigate greenhouse gas (GHGs) emissions, could compensate the lack of more energetic action on the domestic mitigation side. In order to maximize the mitigation potential, the Copenhagen Green Climate Fund (CGCF) should be transformed into the International Bank for Emissions Allowance Acquisition (IBEAA) envisaged by Bradford (). We estimate that 50 percent of the CGCF in 2020 (50 US billions) could finance from 2.1 to 3.3 Gt CO2-eq emission reductions, depending on the domestic mitigation effort of Annex I and Non-Annex I countries. We construct a matrix that shows the level of GHGs emissions in 2020 under all possible combinations of abatement pledges and international mitigation financing, thus highlighting a rich set of options to reach the same level of GHGs emissions in 2020.
ACCESSION #
70429833

 

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