Publication

Re-thinking a Minimum Global Carbon Price

2015
Reports

Abstract

The present report is a follow-up and update of a previous report of December 2013 to UNEP, “Modeling the impacts of a minimum global carbon price“. The topic is the same, i.e. the “study on a global minimum carbon price that will analyze its potential to foster abatement of carbon emissions, as well as its revenue related possibilities to raise financial resources to address the impacts of climate change”.

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2015
Reports

Abstract

Official source

Related concepts (18)

Carbon tax

A carbon tax is a tax levied on the carbon emissions required to produce goods and services. Carbon taxes are intended to make visible the "hidden" social costs of carbon emissions, which are otherwise felt only in indirect ways like more severe weather events. In this way, they are designed to reduce greenhouse gas emissions by increasing prices of the fossil fuels that emit them when burned. This both decreases demand for goods and services that produce high emissions and incentivizes making them less carbon-intensive.

Carbon budget

A carbon budget is a concept used in climate policy to help set emissions reduction targets in a fair and effective way. It looks at "the maximum amount of cumulative net global anthropogenic carbon dioxide () emissions that would result in limiting global warming to a given level". When expressed relative to the pre-industrial period it is referred to as the total carbon budget, and when expressed from a recent specified date it is referred to as the remaining carbon budget.

Carbon price

Carbon pricing (or pricing) is a method for nations to address climate change. The cost is applied to greenhouse gas emissions in order to encourage polluters to reduce the combustion of coal, oil and gas – the main driver of climate change. The method is widely agreed and considered to be efficient. Carbon pricing seeks to address the economic problem that emissions of and other greenhouse gases (GHG) are a negative externality – a detrimental product that is not charged for by any market.

Related publications (14)

Re-thinking a Minimum Global Carbon Price

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