Keywords:
Greenhouse gas mitigation - Government policy - China.
;
Electronic books.
Description / Table of Contents:
China faces many modernization challenges, but perhaps none is more pressing than that posed by climate change. China must find a new economic growth model that is simultaneously environmentally sustainable, can free it from its dependency on fossil fuels, and lift living standards for the majority of its population. But what does such a model look like? And how can China best make the transition from its present macro-economic structure to a low-carbon future? This ground-breaking economic study, led by the Stockholm Environment Institute and the Chinese Economists 50 Forum, brings together leading international thinkers in economics, climate change, and development, to tackle some of the most challenging issues relating to China's low-carbon development. This study maps out a deep carbon reduction scenario and analyzes economic policies that shift carbon use, and shows how China can take strong and decisive action to make deep reductions in carbon emission over the next forty years while maintaining high economic growth and minimizing adverse effects of a low-carbon transition. Moreover, these reductions can be achieved within the finite global carbon budget for greenhouse gas emissions, as determined by the hard constraints of climate science. The authors make the compelling case that a transition to a low-carbon economy is an essential part of China's development and modernization. Such a transformation would also present opportunities for China to improve its energy security and move its economy higher up the international value chain. They argue that even in these difficult economic times, climate change action may present more opportunities than costs. Such a transformation, for China and the rest of the world, will not be easy. But it is possible, necessary and worthwhile to pursue.
Type of Medium:
Online Resource
Pages:
1 online resource (481 pages)
Edition:
1st ed.
ISBN:
9781134073665
URL:
https://ebookcentral.proquest.com/lib/geomar/detail.action?docID=1397111
DDC:
363.7387460951
Language:
English
Note:
Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- List of figures, tables and boxes -- List of abbreviations -- Foreword -- Preface -- Key issues in the pathway to a low-carbon, high-growth economy -- The challenge of containing costs -- Concluding remarks -- A note on names -- Acknowledgements -- Part I - The Economics of Climate Change in China: An Overview of the Possible -- Introduction -- The climate challenge -- Science says: A finite global budget for greenhouse gas emissions -- China's sustainability challenge in the climate change context -- This book -- The need for a fair deal -- Emissions, living standards, and consumption -- What can China learn from its own development? -- What can China learn from other countries? -- Consumption, carbon emissions, and the new global order of production -- Questions, reflections and the consumption dilemma -- Frameworks for burden sharing -- What is China's fair share of global emission reductions? -- A 'graduation threshold' -- The art of the possible - a deep carbon reduction scenario -- The deep carbon reduction scenario -- Construction -- Transport -- Industry -- Iron and steel -- Cement -- Other manufacturing -- Dematerialization -- Electric generation -- Early retirement of existing inefficient coal-fired electricity generation -- Large-scale deployment of efficient coal-fired power with carbon capture and storage -- Large-scale development of non-fossil energy -- Combined heat and power generation -- Managing the challenges and disruptive effects -- Market mechanisms to price carbon -- Phasing out subsidies -- Carbon tax -- Cap-and-trade system -- China's choices for a carbon pricing mechanism -- A global carbon market -- China in a global carbon market -- Economy-wide cap -- Absolute sectoral caps - government trading.
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Sectoral entity-level cap-and-trade with international linking -- Economy-wide intensity target -- Sectoral intensity targets -- Sectoral projects -- Single projects, bundles of projects -- International harmonization of carbon prices -- International competitiveness and carbon tariff proposals -- Innovation and investment -- Technology and domestic innovation policy -- A new plan to boost technology transfer -- Inter-country joint mitigation plans -- Investment and financing -- A low-carbon China is a modern China -- Notes -- References -- Appendix: List of Annex 1 and non-Annex 1 Countries -- Part II - Towards Climate Protection for Development -- 1. Fair Emissions: Rights, Responsibilities and Obligations -- History, reality and future trends -- Consumption and emissions -- The model -- Households -- Production -- Equilibrium -- GHG emissions -- Preliminary results of consumption-based carbon accumulative emissions -- Developmental rights and mitigation responsibilities -- A revised GDR framework -- Cap and allocation (and international transfer) -- A gradual step-in framework with graduation threshold -- Proposed 'Climate Treaty' regime for post-2012 climate architecture -- Note -- References -- 2. Equity Frameworks and a Greenhouse Development Rights Analysis for China -- The science and equity challenge -- Burden-sharing frameworks and their implications for China -- Equity within China: Implications for burden sharing -- Conclusions -- Notes -- References -- 3. Greenhouse Gases and Human Well-Being: China in a Global Perspective -- Climate change and development -- Emissions versus well-being: The international context -- Chinese provinces in a global context -- Measuring development in China and abroad -- Re-examining the Environmental Kuznets Curve -- Avoiding climate catastrophe: Development implications -- Conclusion -- Notes -- References.
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Appendix: Comparison of emissions per capita data -- 4. Carbon Embedded in China's Trade -- Introduction -- The carbon intensity of trade: Three scenarios -- Carbon intensity by sector: China versus the US -- Revealed comparative advantage and carbon intensity -- Towards policy implications -- Notes -- Acknowledgements -- References -- 5. A Deep Carbon Reduction Scenario for China -- Introduction -- Methodology -- A baseline scenario -- A deep carbon reduction scenario -- Buildings -- Transport -- Industry -- Iron and steel -- Cement -- Other sectors -- Dematerialization -- Results for industry -- Electricity generation -- Overall results -- Conclusions -- Notes -- References -- Part III - Growth, Opportunity and Sustainability -- 6. Tax Instruments for Reducing Emissions: An Overview -- The challenge of climate change -- Outline of this chapter -- Taxes versus quantities under uncertain climate change and mitigation costs -- The Weitzman argument -- Taxes versus quantities in a stock-pollutant problem -- Model description -- Model results -- Model dynamics -- Implications of uncertainty for the choice of policy instrument -- Taxes versus quantities under supply-side dynamics and multiple market failures -- Taxes and permits with a carbon budget constraint -- Price and quantity instruments -- Input and output regulation -- Sectoral coverage -- Supply-side dynamics and green paradox -- Institutional aspects for optimal carbon pricing -- Optimal resource taxing -- Optimal permit issuing -- Multiple market failures and complementary instruments -- Oligopolistic market power -- Expropriation risk and suboptimal timing -- Technological change -- Assessment of tax and quantity regulation -- Political economy of taxation instruments -- Raising revenues and preventing perverse incentives -- Institutional requirements and transaction costs.
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Political requirements -- International harmonization of carbon prices -- International burden sharing -- Stabilizing market expectations -- Analysis of existing energy and CO2 taxes in the EU -- Price elasticities -- Environmental tax reforms in the EU -- Case study: The Norwegian CO2 tax -- Case study: The German eco-tax -- Important results for tax design -- Summary and conclusions -- Notes -- References -- 7. Exploring Carbon Tax in China -- Introduction -- An answer to global climate change: Carbon tax versus cap-and-trade in China? -- Criteria for policy design -- The current debate: Carbon tax or cap-and-trade? -- A Chinese carbon tax: Economic effects and ancillary environmental benefits -- Practical issues that need to be addressed -- Notes -- References -- 8. Domestic Emissions Trading Systems -- Introduction -- Rationale of emissions trading -- Elementary design features of cap-and-trade -- Cap and coverage -- Importing offset credits -- Allowance allocation -- Banking and borrowing -- Price ceiling and floor -- Monitoring and compliance -- Avoiding carbon leakage -- Key lessons from the EU ETS -- Setting the cap -- Allowance allocation -- Did abatement occur? -- Price effects -- Carbon market governance -- Complementary measures -- Conclusion -- Appendix -- Notes -- References -- 9. Emission Reduction and Employment -- Economic growth, employment and emission reduction -- An evolutionary or shock path -- Sectoral priority: Energy consumption or energy efficiency? -- China's Environmental Kuznets Curve -- Emission reduction strategies compatible with increasing employment -- Slowing the growth of energy consumption for non-production purposes -- Employment elasticity with respect to energy consumption and its implications -- Emission reduction strategies compatible with enlarging employment.
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Practices of emissions reduction: Employment loss and employment creation -- Employment loss -- Employment creation -- Implementation mechanisms for emissions reduction policies and their coordination with employment policies -- Appendix -- Notes -- References -- Part IV - Climate Change Mitigation: A Fair, Effective and Efficient Global Deal -- 10. International Mechanisms for Greenhouse Gas Mitigation Finance and Investment -- Introduction -- Mitigating climate change: Projected investment needs -- The scale of investment needs -- Implications for investment needs in China -- Current financing -- Domestic policies -- Investment trends in energy efficiency and renewable energy -- Role of international public funds -- Under the Climate Convention -- Bilateral energy assistance -- Multilateral finance outside the Convention -- Role of the carbon market -- The CDM in China -- Closing the gap: International climate funds and the carbon market -- International climate funds for mitigation -- New funds guided and/or governed by the Climate Convention -- Multilateral funds outside the Convention -- Bilateral initiatives -- Innovative mechanisms for raising funding -- A wide landscape of climate funds -- Carbon market options -- Reform and expansion of project-based carbon finance (CDM and JI) -- Carbon finance beyond the project level -- Comparison of mechanisms -- Integrating carbon finance, climate funds and domestic action -- Conclusions -- Notes -- References -- 11. Emissions Trading and the Global Deal -- Introduction -- A Global Deal for climate change1 -- Architectures for international emissions trading -- Status quo -- Options -- Top-down -- Bottom-up -- Discussion -- Options for developing countries -- Economy-wide cap -- Absolute sectoral caps - government trading -- Sectoral entity-level cap-and-trade with international linking.
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Economy-wide intensity target.
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