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The Economics and Politics of Climate Change
Edited by Dieter Helm and Cameron Hepburn
576 pages
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29 Figures, 58 Tables, 5 Boxes
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234x156mm
978-0-19-960627-6
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Paperback
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15 September 2011
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- Includes contributions from leading climate change policy experts
- Highly topical and political subject that discusses the Stern Report and the international framework and negotiations for a post-Kyoto climate change agreement
- Written in an accessible style that enables a wide readership to come to grips with the main issues of climate change
- Discusses major climate change issues such as what sort of overall target for emissions reductions is credible and over what timetable, what the basis for any new international agreement might be, and how the interests of the developing countries might be reconciled with those of the industrialised countries
The international framework for a climate change agreement is up for review as the initial Kyoto period to 2012 comes to an end. Though there has been much enthusiasm from political and environmental groups, the underlying economics and politics remain highly controversial. This book takes a cool headed look at the critical roadblocks to agreement, examining the economics of climate change, the incentives of the main players (the US, EU, China) and examines the policies governments can put in place to reduce greenhouse gas emissions, and ultimately shift our economies onto a low-carbon path. The volume brings together leading climate change policy experts to set out the economic analysis and the nature of the negotiations at Copenhagen and beyond. In
addition to reviewing the main issues discussed above, a number of the articles question the basis of much of the climate change consensus, and debate the Stern Report's main findings.
The book is in four parts. Following an overview of the main issues, the first part is a reassessment of the economics of climate change. This is fundamental to the rest of the volume, and it contains new material which goes well beyond what might be called the new conventional wisdom. The second part looks at the geography of the costs and benefits of climate change - the very different perspectives of Africa, China, the US and Europe. These chapters provide a building block to considering the prospects for a new global agreement - the very different interests that will have to be
reconciled at Copenhagen and beyond. The third part looks at policy instruments at the global level (whereas much of the literature to date is nationally and regionally based). Trading and R&D feature in the chapters, but so too do more radical unilateral options, including geo-engineering. Part four turns to the institutional architecture - drawing on evidence from previous attempts in other areas, as well as proposals for new bodies.Readership: Academics, researchers and students in politics, economics, environmental and climate studies. NGOs and policymakers.
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Edited by Dieter Helm, Professor of Energy Policy at the University of Oxford and a Fellow of New College, University of Oxford, and Cameron Hepburn, Senior Research Fellow, Smith School of Enterprise and the Environment, University of Oxford Dieter Helm holds a number of advisory board appointments, including Chairman of the Academic Panel of the Department of Environment, Food and Rural Affairs and member of the Advisory Panel on Energy and Climate Security, Department for Energy and Climate Change. He was a member of the DTI Sustainable Energy Policy Advisory Board 2002-7 and of the Prime Minister's Council of Science and Technology 2004-7. He is an associate editor of the Oxford
Review of Economic Policy. Dieter Helm's career to date has spanned academia, public policy, and business. He founded Oxera in 1982 and has published extensively on environmental, energy, infrastructure, and regulation topics.
Cameron Hepburn has advised several governments and international institutions on climate and environmental policy, and he currently serves on UK Defra's Academic Panel. He is an Associate Editor of the Oxford Review of Economic Policy, a Research Fellow at New College, Oxford, and he has over a decade's experience working on environmental issues and climate change, with a particular focus on emissions trading and carbon markets. He holds a DPhil (PhD) in economics from Oxford, and undergraduate degrees in law and engineering from the University of Melbourne.
Contributors:
Dieter Helm, University of Oxford
Cameron Hepburn, University of Oxford
Nicholas Stern, LSE
Scott Barrett, Columbia University
Ross Garnaut, Australian National University
Stephen Howes, Australian National University
Frank Jotzo, Australian National University
Peter Sheehan, Victoria University
Kjell Arne Brekke, University of Oslo
Olof Johansson-Stenman, University of Gothenburg
Paul Collier, University of Oxford
Gordon Conway, Imperial College
Anthony Venables, University of Oxford
Jiahua Pan, Chinese Academy of
Social Sciences
Jonathan Phillips, University of London
Ying Chen, Chinese Academy of Social Sciences
Vijay Joshi, University of Oxford
Urjit R. Patel, Competition Commission of India
Robert N. Stavins, Harvard University
Howard Herzog, MIT
Richard Green, University of Birmingham
Krister P. Andersson, Harvard University and the University of Colorado, Boulder
Andrew J. Plantinga, Oregon State University
Kenneth R. Richards, Indiana University
David G. Victor, Stanford University
Steven Sorrell, University of Sussex
Gernot Wagner, Harvard University
Nathaniel Keohane, Yale School of Management
Annie Petsonk, Environmental
Defense Fund
James S. Wang, Environmental Defense Fund
Joanna Depledge, University of Cambridge
Farhana Yamin, University of Sussex
Arunabha Ghosh, University of Oxford
Ngaire Woods, University of Oxford
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Review(s) from previous edition
"Successfully illustrate[s] the immense complexity of the problem...a valuable compendium
- Sir Crispin Tickell, Financial Times
"Impressive" - Roger Pielke Jr, Nature
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1: Dieter Helm and Cameron Hepburn: Introduction
Part One: Revisiting the Economics of Climate Change
2: Dieter Helm: Climate-change policy: why has so little been achieved?
3: Cameron Hepburn and Nicholas Stern: The global deal on climate change
4: Scott Barrett: Climate treaties and the imperative of enforcement
5: Ross Garnaut, Stephen Howes, Frank Jotzo and Peter Sheehan: The implications of rapid development for emissions and climate-change mitigation
6: Kjell Arne Brekke and Olof Johansson-Stenman: The behavioural economics of climate change
Part Two: The Global Players and Agreements
7: Paul Collier, Gordon Conway and Anthony Venables: Climate change and Africa
8: Jiahua Pan, Jonathan Phillips and Ying Chen: China's balance of emissions embodied in trade: approaches to measurement and allocating international responsibility
9: Vijay Joshi and Urjit R. Patel: India and climate-change mitigation
10: Robert N. Stavins: Addressing climate change with a comprehensive US cap-and-trade system
11: Dieter Helm: EU climate-change policy: a critique
Part Three: Low-carbon Technologies
12: Dieter Helm: Nuclear power, climate change, and energy policy
13: Howard Herzog: Carbon dioxide capture and storage
14: Richard Green: Climate-change mitigation from renewable energy: its contribution and cost
15: Krister P. Andersson, Andrew J. Plantinga, and Kenneth R. Richards: The national inventory approach for international forest-carbon sequestration management
16: David G. Victor: On the regulation of geo-engineering
17: Steven Sorrell: Improving energy efficiency: hidden costs and unintended consequences
Part Four: National and International Instruments
18: Cameron Hepburn: Carbon taxes, emissions trading and hybrid schemes
19: Gernot Wagner, Nathaniel Keohane, Annie Petsonk, and James S. Wang: Docking into a global carbon market: Clean Investment Budgets to finance low-carbon economic development
20: Cameron Hepburn: International carbon finance and the Clean Development Mechanism
Part Five: Institutional Architecture
21: Joanna Depledge and Farhana Yamin: The global climate-change regime: a defence
22: Arunabha Ghosh and Ngaire Woods: Governing climate change: lessons from other governance regimes
Bibliography
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