Climate Change Economics

Hardback

Climate Change Economics

Why International Accords Fail

9781843768128 Edward Elgar Publishing
G. Cornelis van Kooten, Professor of Economics and Canada Research Chair in Environmental Studies and Climate, University of Victoria, Canada and Adjunct Professor of Agricultural Economics and Rural Policy, Wageningen University, The Netherlands
Publication Date: 2004 ISBN: 978 1 84376 812 8 Extent: 176 pp
Although the full extent of the potential damages from global warming remain unknown, scientists have long argued that action should be taken now to mitigate any possible adverse consequences. However, in making such policy recommendations, economic arguments need to be considered as much as scientific ones. This volume examines the appropriate economic incentives for implementing policy to mitigate climate change and then exposes the flaws in current international agreements.

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Although the full extent of the potential damages from global warming remain unknown, scientists have long argued that action should be taken now to mitigate any possible adverse consequences. However, in making such policy recommendations, economic arguments need to be considered as much as scientific ones. This volume examines the appropriate economic incentives for implementing policy to mitigate climate change and then exposes the flaws in current international agreements.

The book begins by providing the economic foundations for understanding climate change. It examines how Kyoto’s flexibility mechanism departs from more efficient and less-costly approaches for reducing atmospheric carbon dioxide, and highlights the problems that terrestrial carbon credits pose for emissions trading. Unique case studies of Canada, Japan and The Netherlands indicate that most countries will be unable to meet their own Kyoto obligations. The author then uses an economic analysis of the potential damages to show that even though some countries will experience a detrimental effect from climate change, the majority will actually benefit. In this way, he clearly demonstrates that not only will current policies do little to avert global warming, most countries will also have less incentive to sign up to any future international agreements.

Academics, economists and policymakers involved in the climate change debate will find this succinct yet comprehensive analysis of the economic instruments available for mitigating climate change to be essential reading.
Contents
Contents: Preface 1. Introduction 2. Economic Efficiency and Climate Change Mitigation 3. Costs and Benefits of Mitigating Climate Change 4. Terrestrial Carbon Sinks 5. Ratifying Kyoto: Is it Smoke and Mirrors? 6. Why Might Countries Want to Mitigate Climate Change? 7. Discussion References Index
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