Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms

This paper discusses the scope for market mechanisms, already established for greenhouse gas mitigation in Annex 1 countries that ratified the Kyoto Protocol, for implementing "net mitigation," defined here as mitigation beyond Annex 1 co...

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Main Author:	Strand, Jon
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	EMISSION ALLOWANCES ALLOWANCE EMISSIONS REDUCTION ENVIRONMENTAL ECONOMICS POWER PLANTS ELECTRICITY SECTOR ENVIRONMENTAL PROTECTION TEMPERATURE FOSSIL FUELS EMISSIONS GROWTH PUBLIC ECONOMICS EMISSIONS INTENSITY OFFSET PRICE GREENHOUSE GAS EMISSIONS EMISSIONS LEVELS EMISSIONS QUOTAS INCOME CARBON MARGINAL COST VARIABLE COST DISCOUNT RATE EMISSIONS OFFSET PRICES OFFSET PROJECTS GLOBAL CARBON MARKET INCENTIVES EMISSION REDUCTION GHGS ASYMMETRIC INFORMATION ENERGY SUBSIDIES MODELS GAS GLOBAL GREENHOUSE GAS EMISSION REDUCTION UNITS EMISSIONS CONTROL PRICE ECONOMIC ACTOR EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE ECONOMIC ANALYSIS EMISSIONS ABATEMENT POLICY RESPONSE EMISSIONS CONSTRAINTS CO2 GREENHOUSE GAS MITIGATION ALLOWANCE ALLOCATION EFFICIENCY IMPROVEMENTS CLIMATE POLICIES FEASIBILITY EMISSION LEVELS GHG POLICY APPROACH GLOBAL EMISSIONS REDUCTION CLIMATE‐POLICY FREE ALLOCATION CONVENTION ON CLIMATE CHANGE MARKETS CARBON TAXES EMISSIONS LEAKAGE EMISSIONS PRICES EMISSIONS MITIGATION EMISSIONS REDUCTIONS CLIMATE CHANGE GAS EMISSIONS FOSSIL‐FUEL CAPS ENERGY POLICY FUELS CARBON FINANCE GREENHOUSE GAS CONTROL FINANCE GREENHOUSE GASES CAP‐AND‐TRADE POLICY ET CARBON EMISSIONS NATIONAL EMISSIONS FREE‐ALLOCATION EMISSIONS BASELINE GREENHOUSE EMISSION CONSUMPTION CLIMATE CHANGE ECONOMICS LEAD POLICIES CLIMATE‐ POLICY ECONOMIC BEHAVIOR CARBON CREDITS POLICY MAKERS CARBON TAX RESOURCE ECONOMICS ELECTRICITY EMISSIONS POLICY DISCOUNT RATES EMISSIONS CAPS CLIMATE DEMAND FORESTS ABATEMENT LOWER PRICE GLOBAL EMISSION HFC‐23 FOSSIL FUEL HISTORICAL EMISSIONS OFFSETS DISCOUNTING CATALYSTS DOMESTIC EMISSIONS GLOBAL EMISSIONS EMISSIONS ALLOCATIONS MARKET BASELINE” EMISSIONS ECONOMIC THEORY POLICY CERTIFIED EMISSIONS REDUCTIONS ENERGY PRODUCTION ALLOWANCES ENERGY EFFICIENCY PURCHASES OF OFFSETS EMISSIONS‐MITIGATION EMISSIONS TAXES EMISSIONS TARGETS LOWER PRICES COAL ALLOCATION ENERGY ECONOMICS SUPPLY CARBON MARKET INTERNATIONAL GREENHOUSE GAS INVESTMENTS PRICE OF OFFSETS CLIMATE POLICY OFFSETS ECOLOGICAL ECONOMICS RENEWABLE ENERGY INTERNATIONAL OFFSETS GASES FRAMEWORK CONVENTION ON CLIMATE CHANGE PRICES NEGATIVE IMPACTS BENEFITS ENERGY
Online Access:	http://documents.worldbank.org/curated/en/2016/03/26050718/assessment-net-mitigation-context-international-greenhouse-gas-emissions-control-mechanisms http://hdl.handle.net/10986/24137

id	okr-10986-24137
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	EMISSION ALLOWANCES ALLOWANCE EMISSIONS REDUCTION ENVIRONMENTAL ECONOMICS POWER PLANTS ELECTRICITY SECTOR ENVIRONMENTAL PROTECTION TEMPERATURE FOSSIL FUELS EMISSIONS GROWTH PUBLIC ECONOMICS EMISSIONS INTENSITY OFFSET PRICE GREENHOUSE GAS EMISSIONS EMISSIONS LEVELS EMISSIONS QUOTAS INCOME CARBON MARGINAL COST VARIABLE COST DISCOUNT RATE EMISSIONS OFFSET PRICES OFFSET PROJECTS GLOBAL CARBON MARKET INCENTIVES EMISSION REDUCTION GHGS ASYMMETRIC INFORMATION ENERGY SUBSIDIES MODELS GAS GLOBAL GREENHOUSE GAS EMISSION REDUCTION UNITS EMISSIONS CONTROL PRICE ECONOMIC ACTOR EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE ECONOMIC ANALYSIS EMISSIONS ABATEMENT POLICY RESPONSE EMISSIONS CONSTRAINTS CO2 GREENHOUSE GAS MITIGATION ALLOWANCE ALLOCATION EFFICIENCY IMPROVEMENTS OFFSET PROJECTS CLIMATE POLICIES FEASIBILITY OFFSET PRICE EMISSION LEVELS GHG POLICY APPROACH GLOBAL EMISSIONS REDUCTION CLIMATE‐POLICY CLIMATE POLICIES FREE ALLOCATION CONVENTION ON CLIMATE CHANGE MARKETS CARBON TAXES EMISSIONS LEAKAGE EMISSIONS PRICES EMISSIONS MITIGATION EMISSIONS REDUCTIONS ELECTRICITY SECTOR CLIMATE CHANGE GAS EMISSIONS ENVIRONMENTAL ECONOMICS FOSSIL‐FUEL CAPS ENERGY POLICY FUELS CARBON FINANCE GREENHOUSE GAS CONTROL EMISSIONS REDUCTION FINANCE GREENHOUSE GASES CAP‐AND‐TRADE POLICY ET CARBON EMISSIONS EMISSIONS REDUCTIONS NATIONAL EMISSIONS FREE‐ALLOCATION EMISSIONS BASELINE GREENHOUSE EMISSION CONSUMPTION CLIMATE CHANGE ECONOMICS LEAD POLICIES CLIMATE‐ POLICY CLIMATE CHANGE ECONOMIC BEHAVIOR CARBON CREDITS POLICY MAKERS CARBON TAX RESOURCE ECONOMICS ELECTRICITY EMISSIONS POLICY DISCOUNT RATES EMISSIONS CAPS CLIMATE DEMAND FORESTS ABATEMENT LOWER PRICE GLOBAL EMISSION HFC‐23 CAP‐AND‐TRADE POLICY FOSSIL FUEL HISTORICAL EMISSIONS OFFSETS DISCOUNTING CATALYSTS DOMESTIC EMISSIONS GLOBAL EMISSIONS EMISSIONS ALLOCATIONS MARKET BASELINE” EMISSIONS ECONOMIC THEORY POLICY CERTIFIED EMISSIONS REDUCTIONS ENERGY PRODUCTION ALLOWANCES ENERGY EFFICIENCY DISCOUNT RATES PURCHASES OF OFFSETS EMISSIONS‐MITIGATION CLIMATE CHANGE ECONOMICS EMISSIONS TAXES ENERGY EFFICIENCY EMISSIONS TARGETS LOWER PRICES COAL ALLOCATION ENERGY ECONOMICS SUPPLY PUBLIC ECONOMICS CARBON MARKET ENERGY ECONOMICS INTERNATIONAL GREENHOUSE GAS INVESTMENTS ENVIRONMENTAL PROTECTION PRICE OF OFFSETS CLIMATE POLICY OFFSETS CLIMATE POLICY ECOLOGICAL ECONOMICS RENEWABLE ENERGY INTERNATIONAL OFFSETS GASES CARBON TAX FRAMEWORK CONVENTION ON CLIMATE CHANGE PRICES NEGATIVE IMPACTS BENEFITS INTERNATIONAL GREENHOUSE GAS ENERGY
spellingShingle	EMISSION ALLOWANCES ALLOWANCE EMISSIONS REDUCTION ENVIRONMENTAL ECONOMICS POWER PLANTS ELECTRICITY SECTOR ENVIRONMENTAL PROTECTION TEMPERATURE FOSSIL FUELS EMISSIONS GROWTH PUBLIC ECONOMICS EMISSIONS INTENSITY OFFSET PRICE GREENHOUSE GAS EMISSIONS EMISSIONS LEVELS EMISSIONS QUOTAS INCOME CARBON MARGINAL COST VARIABLE COST DISCOUNT RATE EMISSIONS OFFSET PRICES OFFSET PROJECTS GLOBAL CARBON MARKET INCENTIVES EMISSION REDUCTION GHGS ASYMMETRIC INFORMATION ENERGY SUBSIDIES MODELS GAS GLOBAL GREENHOUSE GAS EMISSION REDUCTION UNITS EMISSIONS CONTROL PRICE ECONOMIC ACTOR EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE ECONOMIC ANALYSIS EMISSIONS ABATEMENT POLICY RESPONSE EMISSIONS CONSTRAINTS CO2 GREENHOUSE GAS MITIGATION ALLOWANCE ALLOCATION EFFICIENCY IMPROVEMENTS OFFSET PROJECTS CLIMATE POLICIES FEASIBILITY OFFSET PRICE EMISSION LEVELS GHG POLICY APPROACH GLOBAL EMISSIONS REDUCTION CLIMATE‐POLICY CLIMATE POLICIES FREE ALLOCATION CONVENTION ON CLIMATE CHANGE MARKETS CARBON TAXES EMISSIONS LEAKAGE EMISSIONS PRICES EMISSIONS MITIGATION EMISSIONS REDUCTIONS ELECTRICITY SECTOR CLIMATE CHANGE GAS EMISSIONS ENVIRONMENTAL ECONOMICS FOSSIL‐FUEL CAPS ENERGY POLICY FUELS CARBON FINANCE GREENHOUSE GAS CONTROL EMISSIONS REDUCTION FINANCE GREENHOUSE GASES CAP‐AND‐TRADE POLICY ET CARBON EMISSIONS EMISSIONS REDUCTIONS NATIONAL EMISSIONS FREE‐ALLOCATION EMISSIONS BASELINE GREENHOUSE EMISSION CONSUMPTION CLIMATE CHANGE ECONOMICS LEAD POLICIES CLIMATE‐ POLICY CLIMATE CHANGE ECONOMIC BEHAVIOR CARBON CREDITS POLICY MAKERS CARBON TAX RESOURCE ECONOMICS ELECTRICITY EMISSIONS POLICY DISCOUNT RATES EMISSIONS CAPS CLIMATE DEMAND FORESTS ABATEMENT LOWER PRICE GLOBAL EMISSION HFC‐23 CAP‐AND‐TRADE POLICY FOSSIL FUEL HISTORICAL EMISSIONS OFFSETS DISCOUNTING CATALYSTS DOMESTIC EMISSIONS GLOBAL EMISSIONS EMISSIONS ALLOCATIONS MARKET BASELINE” EMISSIONS ECONOMIC THEORY POLICY CERTIFIED EMISSIONS REDUCTIONS ENERGY PRODUCTION ALLOWANCES ENERGY EFFICIENCY DISCOUNT RATES PURCHASES OF OFFSETS EMISSIONS‐MITIGATION CLIMATE CHANGE ECONOMICS EMISSIONS TAXES ENERGY EFFICIENCY EMISSIONS TARGETS LOWER PRICES COAL ALLOCATION ENERGY ECONOMICS SUPPLY PUBLIC ECONOMICS CARBON MARKET ENERGY ECONOMICS INTERNATIONAL GREENHOUSE GAS INVESTMENTS ENVIRONMENTAL PROTECTION PRICE OF OFFSETS CLIMATE POLICY OFFSETS CLIMATE POLICY ECOLOGICAL ECONOMICS RENEWABLE ENERGY INTERNATIONAL OFFSETS GASES CARBON TAX FRAMEWORK CONVENTION ON CLIMATE CHANGE PRICES NEGATIVE IMPACTS BENEFITS INTERNATIONAL GREENHOUSE GAS ENERGY Strand, Jon Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms
relation	Policy Research Working Paper;No. 7594
description	This paper discusses the scope for market mechanisms, already established for greenhouse gas mitigation in Annex 1 countries that ratified the Kyoto Protocol, for implementing "net mitigation," defined here as mitigation beyond Annex 1 countries' formal mitigation requirements under the Kyoto Protocol. Such market mechanisms could be useful for establishing and extending greenhouse gas mitigation targets also under the Paris Agreement from December 2015. Net mitigation is considered in two possible forms: as a "net atmospheric benefit," or as an “own contribution” by offset host countries. A main conclusion is that a “net atmospheric benefit” is possible at least in the short run, best implemented via stricter baselines against which offsets are credited; but it can also take the form of offset discounting whereby offset buyers are credited fewer credits. The latter, although generally inefficient, can be a second-best response to certain imperfections in the offset market, which are discussed in the paper. There is less merit for claiming that "own contributions" can lead to additional mitigation under existing mechanisms.
format	Working Paper
author	Strand, Jon
author_facet	Strand, Jon
author_sort	Strand, Jon
title	Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms
title_short	Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms
title_full	Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms
title_fullStr	Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms
title_full_unstemmed	Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms
title_sort	assessment of net mitigation in the context of international greenhouse gas emissions control mechanisms
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/03/26050718/assessment-net-mitigation-context-international-greenhouse-gas-emissions-control-mechanisms http://hdl.handle.net/10986/24137
_version_	1764455746105245696
spelling	okr-10986-241372021-04-23T14:04:19Z Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms Strand, Jon EMISSION ALLOWANCES ALLOWANCE EMISSIONS REDUCTION ENVIRONMENTAL ECONOMICS POWER PLANTS ELECTRICITY SECTOR ENVIRONMENTAL PROTECTION TEMPERATURE FOSSIL FUELS EMISSIONS GROWTH PUBLIC ECONOMICS EMISSIONS INTENSITY OFFSET PRICE GREENHOUSE GAS EMISSIONS EMISSIONS LEVELS EMISSIONS QUOTAS INCOME CARBON MARGINAL COST VARIABLE COST DISCOUNT RATE EMISSIONS OFFSET PRICES OFFSET PROJECTS GLOBAL CARBON MARKET INCENTIVES EMISSION REDUCTION GHGS ASYMMETRIC INFORMATION ENERGY SUBSIDIES MODELS GAS GLOBAL GREENHOUSE GAS EMISSION REDUCTION UNITS EMISSIONS CONTROL PRICE ECONOMIC ACTOR EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE ECONOMIC ANALYSIS EMISSIONS ABATEMENT POLICY RESPONSE EMISSIONS CONSTRAINTS CO2 GREENHOUSE GAS MITIGATION ALLOWANCE ALLOCATION EFFICIENCY IMPROVEMENTS OFFSET PROJECTS CLIMATE POLICIES FEASIBILITY OFFSET PRICE EMISSION LEVELS GHG POLICY APPROACH GLOBAL EMISSIONS REDUCTION CLIMATE‐POLICY CLIMATE POLICIES FREE ALLOCATION CONVENTION ON CLIMATE CHANGE MARKETS CARBON TAXES EMISSIONS LEAKAGE EMISSIONS PRICES EMISSIONS MITIGATION EMISSIONS REDUCTIONS ELECTRICITY SECTOR CLIMATE CHANGE GAS EMISSIONS ENVIRONMENTAL ECONOMICS FOSSIL‐FUEL CAPS ENERGY POLICY FUELS CARBON FINANCE GREENHOUSE GAS CONTROL EMISSIONS REDUCTION FINANCE GREENHOUSE GASES CAP‐AND‐TRADE POLICY ET CARBON EMISSIONS EMISSIONS REDUCTIONS NATIONAL EMISSIONS FREE‐ALLOCATION EMISSIONS BASELINE GREENHOUSE EMISSION CONSUMPTION CLIMATE CHANGE ECONOMICS LEAD POLICIES CLIMATE‐ POLICY CLIMATE CHANGE ECONOMIC BEHAVIOR CARBON CREDITS POLICY MAKERS CARBON TAX RESOURCE ECONOMICS ELECTRICITY EMISSIONS POLICY DISCOUNT RATES EMISSIONS CAPS CLIMATE DEMAND FORESTS ABATEMENT LOWER PRICE GLOBAL EMISSION HFC‐23 CAP‐AND‐TRADE POLICY FOSSIL FUEL HISTORICAL EMISSIONS OFFSETS DISCOUNTING CATALYSTS DOMESTIC EMISSIONS GLOBAL EMISSIONS EMISSIONS ALLOCATIONS MARKET BASELINE” EMISSIONS ECONOMIC THEORY POLICY CERTIFIED EMISSIONS REDUCTIONS ENERGY PRODUCTION ALLOWANCES ENERGY EFFICIENCY DISCOUNT RATES PURCHASES OF OFFSETS EMISSIONS‐MITIGATION CLIMATE CHANGE ECONOMICS EMISSIONS TAXES ENERGY EFFICIENCY EMISSIONS TARGETS LOWER PRICES COAL ALLOCATION ENERGY ECONOMICS SUPPLY PUBLIC ECONOMICS CARBON MARKET ENERGY ECONOMICS INTERNATIONAL GREENHOUSE GAS INVESTMENTS ENVIRONMENTAL PROTECTION PRICE OF OFFSETS CLIMATE POLICY OFFSETS CLIMATE POLICY ECOLOGICAL ECONOMICS RENEWABLE ENERGY INTERNATIONAL OFFSETS GASES CARBON TAX FRAMEWORK CONVENTION ON CLIMATE CHANGE PRICES NEGATIVE IMPACTS BENEFITS INTERNATIONAL GREENHOUSE GAS ENERGY This paper discusses the scope for market mechanisms, already established for greenhouse gas mitigation in Annex 1 countries that ratified the Kyoto Protocol, for implementing "net mitigation," defined here as mitigation beyond Annex 1 countries' formal mitigation requirements under the Kyoto Protocol. Such market mechanisms could be useful for establishing and extending greenhouse gas mitigation targets also under the Paris Agreement from December 2015. Net mitigation is considered in two possible forms: as a "net atmospheric benefit," or as an “own contribution” by offset host countries. A main conclusion is that a “net atmospheric benefit” is possible at least in the short run, best implemented via stricter baselines against which offsets are credited; but it can also take the form of offset discounting whereby offset buyers are credited fewer credits. The latter, although generally inefficient, can be a second-best response to certain imperfections in the offset market, which are discussed in the paper. There is less merit for claiming that "own contributions" can lead to additional mitigation under existing mechanisms. 2016-04-26T15:26:18Z 2016-04-26T15:26:18Z 2016-03 Working Paper http://documents.worldbank.org/curated/en/2016/03/26050718/assessment-net-mitigation-context-international-greenhouse-gas-emissions-control-mechanisms http://hdl.handle.net/10986/24137 English en_US Policy Research Working Paper;No. 7594 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper

Assessment of Net Mitigation in the Context of International Greenhouse Gas Emissions Control Mechanisms

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