A5088325442- Climate Change Policy and Economics
- Energy, Environment, and Transportation Policies
- Energy, Environment, Economic Growth
- Environmental Impact and Sustainability
- Economic and Environmental Valuation
- Innovation Policy and R&D
- Global Energy and Sustainability Research
- Climate variability and models
- Atmospheric and Environmental Gas Dynamics
- Advanced Thermodynamics and Statistical Mechanics
- Economic and Technological Innovation
- Global trade and economics
- Auction Theory and Applications
- International Development and Aid
- Experimental Behavioral Economics Studies
- Distributed and Parallel Computing Systems
- Global Trade and Competitiveness
- EU Law and Policy Analysis
- Market Dynamics and Volatility
- Fiscal Policy and Economic Growth
- Climate Change and Geoengineering
- Scientific Computing and Data Management
- Environmental Conservation and Management
- Sustainable Development and Environmental Policy
- Regulation and Compliance Studies
Georgetown University
2014-2025
London School of Economics and Political Science
2011-2024
George Washington University
2022
Committee on Climate Change
2016
University of Warwick
2016
University of California, Berkeley
2014
This paper investigates the impact of European Union Emissions Trading System (EU ETS) on technological change, exploiting installations level inclusion criteria to estimate System's causal firms' patenting. We find that EU ETS has increased low-carbon innovation among regulated firms by as much 10%, while not crowding out patenting for other technologies. also evidence affected beyond set companies. These results imply accounts nearly a 1% increase in compared counterfactual scenario.
As climate change research becomes increasingly applied, the need for actionable information is growing rapidly. A key aspect of this requirement representation uncertainties. The conventional approach to representing uncertainty in physical aspects probabilistic, based on ensembles model simulations. In face deep uncertainties, known limitations are becoming apparent. An alternative thus emerging which may be called a 'storyline' approach. We define storyline as physically self-consistent...
As the world considers greener forms of economic growth, countries and sectors are beginning to position themselves for emerging green economy. This paper combines patent data with international trade output in order investigate who winners this "green race" might be. The analysis covers 110 manufacturing eight (China, Germany, France, Italy, Japan, South Korea, UK US) using date period 2005–2007. We identify three success factors competitiveness at sector level: speed which convert products...
One important motivation for creating cap-and-trade programs carbon emissions is the expectation that they will stimulate much-needed low-carbon innovation. I construct a new panel of British firms to investigate this hypothesis, finding European market has encouraged greater patenting and R&D spending among regulated without necessarily driving short-term reductions in intensity output. This stands contrast past programs, which have primarily spurred adoption existing pollution control...
We develop and implement a new method for identifying wasted subsidies, use it to provide systematic evidence on the misallocation of carbon offsets in Clean Development Mechanism—the world's largest offset program. Using newly constructed data locations characteristics 1,350 wind farms India—a context where was believed, ex ante, that Mechanism could significantly increase development above baseline projections—we estimate at least 52% approved were allocated projects would very likely have...
Abstract The global carbon trade has in a short space of time grown into market worth over $175 billion year. history markets is great political success story, and today they form an integral part international climate change policy. Yet we only have very limited understanding how well these work practice. Studying the incoming evidence piecing it together with past emissions trading experiences can teach us lot about work, fail. This article reviews rise as basis for better what happening...
The European Union Emissions Trading Scheme (EU ETS) has aimed to encourage the development of low-carbon technologies by putting a price on carbon emissions. Using newly constructed data set that links 8.5 million companies with their patenting history and regulatory status under EU ETS, we investigate hypothesis ETS encouraged technologies. Exploratory analysis reveals rapid increase in activities at EPO since 2005, especially among regulated during Scheme's second phase. Naive estimates...
Abstract The European Union's pioneering carbon Emissions Trading System, the EU ETS, has inspired countries around world to launch their own CO 2 markets. This paper analyses evolution of ETS from a political economy perspective, emphasizing interaction economic principles and interests at pivotal moments, showing how each compromise changed scope for future design choices. We focus on allowance allocation issue, which provides window into complex tug‐of‐war between efficiency politics...
If there is to be sustained, large-scale action tackle climate change, will have long-term, buy-in for that from populations and electorates. This requires the link clearly made between global change (e.g. target limit warming less than 2oC above pre-industrial levels) local impacts as they may felt by individuals. In media this often via consequences of extreme events such floods, wildfires, droughts; stark images in are a significant part public narrative around change. Nevertheless,...
Abstract Integrated assessment models (IAMs) are the main tools for combining physical and economic analyses to develop assess climate change policy. Policy makers have relied heavily on three IAMs in particular—Dynamic model of Climate Economy (DICE), The Framework Uncertainty, Negotiation Distribution (FUND), Analysis Greenhouse Effect (PAGE)—when trying balance benefits costs action. Unpacking physics these accomplishes four things. First, it reveals how differ extent which those...
Abstract A number of influential assessments the economic cost climate change rely on just a small coupled climate–economy models. central feature these is their accounting epistemic uncertainty—that part our uncertainty stemming from inability to precisely estimate key model parameters, such as Equilibrium Climate Sensitivity. However, models fail account for aleatory uncertainty—the irreducible that remains even when true parameter values are known. We show how this second source in...
Human activities are threatening to push the Earth system beyond its planetary boundaries, risking catastrophic and irreversible global environmental change. Action is urgently needed, yet well-intentioned policies designed reduce pressure on a single boundary can lead, through economic linkages, aggravation of other pressures. In particular, potential policy spillovers from an increase in carbon price onto critical processes has received little attention date. To this end, we explore...
Oil reservoirs contain significant quantities of methane, which can leak out when the oil is extracted. At wells around world, more than 140 billion cubic meters (bcm) this methane burned off (“flared”) every year, transforming it into carbon dioxide, contributes to global warming. Just as much gas released directly (“vented”) makes a 16-fold contribution Flaring and venting waste 8% natural production annually, contribute 6% greenhouse emissions (1), disperse range pollutants that harm...
The European Union Emissions Trading Scheme (EU ETS) has aimed to encourage the development of low-carbon technologies by putting a price on carbon emissions. Using newly constructed data set that links 8.5 million companies with their patenting history and regulatory status under EU ETS, we investigate hypothesis ETS encouraged technologies. Exploratory analysis reveals rapid increase in activities at EPO since 2005, especially among regulated during Scheme's second phase. Naive estimates...
Climate science and climate economics are critical sources of expertise in our pursuit the Sustainable Development Goals. Effective use this requires a strengthening its epistemic foundations renewed focus on more practical policy problems.
Abstract It has recently been highlighted that the economic value of climate change mitigation depends sensitively on slim possibility extreme warming. This insight obtained through a focus fat upper tail sensitivity probability distribution. However, while is undoubtedly important, what ultimately matters transient temperature change. A stresses interplay with other physical uncertainties, notably effective heat capacity. In this paper we present conceptual analysis uncertainties in models...
We first review the way in which Hasselmann’s paradigm, introduced 1976 and recently honored with Nobel Prize, can, like many key innovations complexity science, be understood on several different levels. It can seen as a to add variability into pioneering energy balance models (EBMs) of Budyko Sellers. On more abstract level, however, it used original stochastic mathematical model Brownian motion provide conceptual superstructure link slow climate fast weather fluctuations, context broader...
Development Finance Institutions (DFIs) are frequently asked to demonstrate their additionality — meaning that they make investments the private sector would not but what evidence of look like is rarely articulated. This paper examines potential quantitative and qualitative evidence. We investigate whether it possible infer from observational investment data, show how demand-led nature DFIs’ business model can create bias in standard statistical techniques used identify causal effects....
We develop and implement a new method for identifying wasted subsidies use it to provide systematic evidence of the misallocation carbon offsets in Clean Development Mechanism—the world's largest offset program. Using newly constructed data on locations characteristics over 1,000 wind farms India, we estimate that at least 52 percent approved were allocated projects would very likely have been built anyway. sale these regulated polluters resulted substantially higher global dioxide...
As the world considers greener forms of economic growth, countries and sectors are beginning to position themselves for emerging green economy. This paper combines patent data with international trade output in order investigate who winners this "green race" might be. The analysis covers 110 manufacturing eight (China, Germany, France, Italy, Japan, South Korea, UK US) over 2005-2007. We identify three success factors competitiveness at sector level: speed which convert products processes...
Environmental regulations have consistently been found to spur innovation in ‘clean’ technologies, with one significant exception. Past cap-and-trade programs encouraged adoption of existing pollution control but had little effect on innovation. Several explanations offered, including secondary market failures and a lack polluter sophistication. In this paper I argue that it likely has more do the state technologies. Using newly constructed panel British companies, show European carbon -...