Climate Change

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02 September 2009

In light of the immature state of preparations for the international climate change negotiations in Copenhagen in December, CEPS Senior Research Fellow Christian Egenhofer predicts that the best outcome to be hoped for at this point is an agreement to continue negotiations in earnest. He warns the developed countries, led by the EU, not to accede too easily to the less-founded demands of developing countries, just to be able to declare a political victory.

06 July 2009

This paper presents a simple, basic model to compute the welfare consequences of the introduction of a tariff on the CO2 content of imported goods in a country that already imposes a domestic carbon tax. The main finding is that the introduction of a carbon import tariff increases global welfare (and not just the welfare of the importing country) if there is no (or insufficient) pricing of carbon abroad. A higher domestic price of carbon justifies a higher import tariff.

23 June 2009

In an effort to address the financing gap for clean energy projects in developing countries, the Global Energy Efficiency and Renewable Energy Fund (GEEREF) was set up in late 2008 as an innovative financing instrument aimed at leveraging private investments with public funds. The purpose of this CEPS Policy Brief is to give an update on GEEREF with a special focus on its financing and possible impacts of the financial crisis. The paper concludes that the strength of GEEREF is not its current financial volume but the innovative nature of the instrument.

15 May 2009

This policy brief builds on results arising from the mitigation and policy appraisal research domains of the ADAM project (Adaptation and Mitigation Strategies: Supporting European Climate Policy). Funded by the European Commission and coordinated by the Tyndall Centre for Climate Change Research in the UK, ADAM is an integrated research project running from 2006 to 2009 that will lead to a better understanding of the trade-offs and conflicts that exist between adaptation and mitigation policies.

28 November 2008

The annual climate change conference (COP14/CMP4) will take place in Poznań, 1–12 December 2008. This Policy Brief aims at providing a brief assessment of where we are on the road from Bali to Copenhagen, thinking ahead of Poznań in relation to the current negotiating environment and exploring the possible nature of an agreed outcome to be reached in Copenhagen at the end of 2009.

30 October 2008

Increasingly people ask how the financial crisis will impact future climate change policy. While intuitively many assume that a recession will reduce the ambition of EU and other countries to press ahead with climate change policies, CEPS researcher Christian Egenhofer argues in this commentary that the opposite may well be the case.

24 October 2008

This paper summarises various estimates of the financial impacts of climate change. It differentiates between studies referring to incremental costs (UNFCCC, World Bank, Oxfam, UNDP, OIES) and those referring to costs expressed as a percentage of global economic output (Stern Review, UNDP, Vattenfall, European Commission, OECD, IPCC). Based on these studies, the paper presents the potential order of magnitude of costs to the EU27, as well as estimations of the role of the public sector in contributing to these costs.

24 October 2008

This paper explore ways of financing mitigation of and adaptation to climate change by asking: Where should the funds come from and how should they be delivered? The authors discuss the need to shift investment patterns and identify possible instruments to assist this process. They review potential instruments for raising revenues and examine existing and new funding instruments and disbursement. A penultimate section describes recent proposals for a new finance model before the concluding section, which lists a number of questions for future discussion.

24 October 2008

The past decade has seen a surge in research and policy analysis on ways in which technology and finance can support mitigation. Similar studies for adaptation are much more recent, and their results therefore less mature. This is a potential bottleneck in the negotiations towards an agreement in Copenhagen. This paper aims to facilitate discussions on adaptation finance by presenting a summary overview of the current state of knowledge and policy initiatives, and by outlining a number of issues that would need to be considered in the negotiation process.

07 October 2008

Observing that the US Congress was able to reach agreement over support to the US banking sector within two weeks, Arno Behrens bemoans the fact that the US and other governments remain reluctant to contribute significantly to the global climate change bill. Instead of buying bad assets, however, he asserts that climate change mitigation is an investment in a global public good and in future prosperity. While cautioning against taking a hasty decision, he argues that there is a strong case to be made for increasing global resources for adaptation and mitigation with all due speed.

03 October 2008

Carbon capture and storage (CCS) technology is seen as key to the achievement of EU and global climate change targets, yet there appears to be no obvious budget for its demonstration phase. In this new Policy Brief, CEPS Senior Researcher Christian Egenhofer makes the case for public support...

30 September 2008

This paper analyses the variety of different external aid initiatives and financing mechanisms of the European Commission addressing climate change and development objectives, such as those stemming from the 2004 EU Action Plan on Climate Change and Development, from the Global Climate Change Alliance (GCCA) and those under the Thematic Programme for Environment and Sustainable Management of Natural Resources (ENRTP). The paper also outlines related Commission commitments with the European Investment Bank (EIB), the World Bank and the United Nations.

25 September 2008

EU climate policy is based on GHG emissions reduction (mitigation) coupled with measures aimed at responding efficiently to the unavoidable consequences of climate change (adaptation). However, as the European Commission recently stated in its Green Paper on adaptation in Europe, there is still a need to develop an overall EU adaptation strategy. Moreover, such a strategy should take into consideration both efficiency and equity concerns. In this article we propose a framework for EU adaptation policy that addresses both concerns and which enables a transparent decision-making process.

25 August 2008

This study focuses on the financial resources needed to fight global climate change and the implications for the EU budget. The authors apply four different methodologies to estimate global financing requirements and attempt to determine the resources that will be needed at the EU level to meet the EU’s climate change objectives. The study analyses current climate change spending of the EU budget, identifies shortcomings and indicates possibilities for correcting them.

08 July 2008

For some time now, CEPS has participated in a project funded by the European Commission called ’Adaptation and Mitigation Strategies: Supporting European Climate Policy’ (ADAM). One research stream within the ADAM project focuses on the implications of mitigation and adaptation strategies for the electricity sector. Apart from mitigation of climate change, the electricity sector will also need to adapt to global warming. A warmer world requires less heating and more cooling.

09 June 2008

The Action Plan agreed in Bali in December 2007 provided a structure, timelines, building blocks and key words to accelerate the negotiations on a future climate change regime. Despite this progress, however, positions between the different parties remain far apart. With the aim of developing analytical tools, increasing understanding and framing the key trade-offs in order to start narrowing this gap, the European Climate Platform (ECP) held a small high-level meeting in Madrid on 17 & 18 April 2008.

05 June 2008

Under the chairmanship of Gunnar Still, Senior Vice President and Head of Environment Division at ThyssenKrupp, CEPS organized a Task Force to explore possible initiatives within the context of the G8+5 dialogue on tackling climate change. This report identifies a number of concrete measures that could reduce greenhouse gas (GHG) emissions, while at the same time stimulating structural change and technology development and diffusion.

04 June 2008

This is the 3rd study to be published in the CEPS Policy Brief series from ongoing research being carried out for the EU-funded ADAM project (ADaptation And Mitigation strategies: supporting European climate policy). Following an introduction to the aims and objectives of the ADAM project, section 2 sets out the rationales for public policy related to adaptation to the impacts of climatic change in the EU.

16 May 2008

The structure of some industrial sectors is so highly concentrated that just a handful of companies are responsible for producing a significant share of that sector’s total greenhouse gases emissions worldwide. These sectors are thus a ‘natural’ focus of policy-makers concerned with climate change and have attracted keen interest from the EU.

17 April 2008

Defying all odds, governments participating in the global climate negotiations at Bali, Indonesia reached agreement on a roadmap towards a global climate change agreement to be completed by the end of 2009, ready to fill the gap when the commitments under the Kyoto Protocol expire in 2012. The contributions in this book examine some of the most difficult and controversial questions that global climate change negotiators face between now and the emergence of a ‘Copenhagen Protocol’ in 2009, and even beyond.

28 February 2008

The EU emissions trading scheme (EU-ETS) introduced in 2005 is the only mandatory cap-and-trade system operating in the world today. Lessons could be taken from the EU stance which allows for flexibility in rules and realises emission reductions with firm commitments by stakeholders.
This CEPS Policy Brief is published in a bilingual English-Japanese version. The Japanese version was originally published in Nihon Keizai Shimbun, 14 February 2008.

01 February 2008

This paper is based on ongoing research being carried out in the context of the ADAM project (ADaptation And Mitigation strategies: supporting European climate policy), funded by the European Commission. While initial responses to the challenges of climate change concentrated on mitigation, in particular reducing greenhouse gas (GHG) emissions in an attempt to curb the growth in global temperatures, there is now increasing recognition of the need for nations, communities and individuals, to adapt to some level of climate change, even with reductions in emissions.

01 February 2008

The impacts of climate change can be analysed with the same economic assessment tools used for analysing the impacts of changing economic conditions. The fundamental concept is that impacts of climate change will affect the behaviour of economic agents, who will adapt autonomously, but autonomous adaptation is not always the optimal solution. The paper explains that by analysing the behaviour of people as a consequence of climate change, the resulting scenarios can help policy-makers in designing policies where autonomous adaptation does not reflect a social optimum.

23 January 2008

In anticipation of the European Commission’s publication of its long-awaited proposal for implementing the European Council’s 2007 decisions on the integrated climate and energy policy, CEPS Senior Fellow Christian Egenhofer investigates the justification for continuing free allocation of allowances to industry.

21 December 2007

The new international climate change agenda encompasses trade, argues a new CEPS Commentary by Christian Egenhofer that assesses the results of the UN climate change negotiations concluded in Bali on 15 December. The first-ever meeting among trade ministers on climate change is another sign of an emerging trade and climate change agenda.

04 December 2007

This report analyses the very broad issue of technology development, demonstration and diffusion with a view to identifying the key elements of a complementary global technology track in the post-2012 framework. It identifies a number of immediate and concrete steps that can be taken to provide content and a structure for such a track.

04 December 2007

Successful global sectoral industry approaches could become an effective means of broadening the range of contributions by all parties to greenhouse gas reductions, and of addressing competitiveness concerns in trade-exposed industries. This report puts these two hypotheses to the test and identifies the key requirements for global sectoral industry approaches to work.

05 November 2007

There has been a growing interest in the Asia-Pacific Partnership on Clean Development and Climate, a multilateral initiative of six founding partner countries in the region – Australia, China, India, Japan, Republic of Korea and the US – for addressing air pollution, energy security and climate protection in a way that facilitates development and poverty eradication. Canada became the 7th member in October 2007. This paper presents an overview of the Asia Pacific Partnership, beginning with a literature review.