Climate Change
A New Way to Address Climate Change: A Global Refunding System
Author: Hans Gersbach
external page Paper Download
Date posted: July 29, 2008
Abstract:
Addressing climate change is vital. “The Group of Eight leading nations formally endorsed a goal of halving global green-house gas emissions by 2050,” as reported recently in the Wall Street Journal. How can this formal endorsement of a goal be translated into this miracle? The history since Kyoto suggests that the international coordination necessary for a serious effort at slowing climate change is nearly impossible to achieve. Here I present a new idea for a global refunding system that could actually work.
Climate Policy with a Global Refunding System
Author: Hans Gersbach
external page VoxEU article
Date posted: February 11, 2008
Abstract:
Tackling climate change is difficult because it requires international cooperation to address global externalities. This column proposes a global refunding system, which would provide incentives for emissions reductions while allowing member countries to choose their carbon tax rates.
The Global Refunding System and Climate Change
Author: Hans Gersbach
external page Working Paper Version
Date posted: January 12, 2007
Abstract:
We propose a global refunding scheme as a new international approach to addressing climate change. A global refunding system allows each country to set its carbon emission tax, while aggregate tax revenues are partially refunded to member countries in proportion to the relative emissions reduction they achieve within a period. Nationally-determined environmental policies and global refunding create increasing incentives to reduce emissions and may achieve efficiency and equity objectives of global climate policy.
Published as "A New Way to Address Climate Change: A Global Refunding System"
Download The Economists' Voice, 5(4), 2008, Article 2.