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Cap And Trade
Carbon emission trading (also called carbon market, emission trading scheme (ETS) or cap and trade) is a type of emissions trading scheme designed for carbon dioxide (CO2) and other greenhouse gases (GHGs). A form of carbon price, carbon pricing, its purpose is to Climate change mitigation, limit climate change by creating a market with limited allowances for emissions. Carbon emissions trading is a common method that countries use to attempt to meet their Nationally Determined Contributions, pledges under the Paris Agreement, with schemes operational in China, the European Union, and other countries. Emissions trading sets a quantitative total limit on the emissions produced by all participating emitters, which correspondingly determines the prices of emissions. Under emission trading, a polluter having more emissions than their quota has to purchase the right to emit more from emitters with fewer emissions. This can reduce the competitiveness of fossil fuels, which are the mai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese National Carbon Trading Scheme
The Chinese national carbon trading scheme is an intensity-based trading system for carbon dioxide emissions by China, which started operating in 2021. This emission trading scheme (ETS) creates a carbon market where emitters can buy and sell emission credits. The scheme will allow carbon emitters to reduce emissions or purchase emission allowances from other emitters. Through this scheme, China will limit emissions while allowing economic freedom for emitters. China is the largest emitter of greenhouse gases (GHG) and many major Chinese cities had severe air pollution through the 2010s, with the situation improving in the 2020s. The scheme is run by the Ministry of Ecology and Environment, which eventually plans to limit emissions from six of China's top carbon dioxide emitting industries. In 2021 it started with its power plants, and covers 40% of China's emissions, which is 15% of world emissions. China was able to gain experience in drafting and implementation of an ETS plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Climate Change Conference
The United Nations Climate Change Conferences are yearly conferences held in the framework of the United Nations Framework Convention on Climate Change (UNFCCC). They serve as the formal meeting of the UNFCCC parties – the conference of the parties, Conference of the Parties (COP) – to assess progress in dealing with climate change, and beginning in the mid-1990s, to negotiate the Kyoto Protocol to establish legally binding obligations for developed countries to reduce their greenhouse gas emissions. Starting in 2005 the conferences have also served as the "Conference of the Parties Serving as the Meeting of Parties to the Kyoto Protocol" (CMP); also parties to the convention that are not parties to the protocol can participate in protocol-related meetings as observers. From 2011 to 2015, the meetings were used to negotiate the Paris Agreement as part of the 2011 United Nations Climate Change Conference#Durban Platform, Durban platform, which created a general path towards clim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Framework Convention On Climate Change
The United Nations Framework Convention on Climate Change (UNFCCC) is the UN process for negotiating an agreement to limit dangerous climate change. It is an international treaty among countries to combat "dangerous human interference with the climate system". The main way to do this is limiting the increase in greenhouse gases in the atmosphere. It was signed in 1992 by 154 states at the United Nations Conference on Environment and Development (UNCED), informally known as the Earth Summit, held in Rio de Janeiro. The treaty entered into force on 21 March 1994. "UNFCCC" is also the name of the Secretariat charged with supporting the operation of the convention, with offices on the UN Campus in Bonn, Germany. The convention's main objective is explained in Article 2. It is the "stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic .e., human-causedinterference with the climate system". The treaty calls for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Garnaut Climate Change Review
Professor Ross Garnaut led two climate change reviews, the first commencing in 2007 and the second in 2010. The first Garnaut Climate Change Review was a study by Professor Ross Garnaut, commissioned by then Opposition Leader, Kevin Rudd and by the Australian State and Territory Governments on 30 April 2007. After the election on 24 November 2007, Prime Minister of Australia Kevin Rudd confirmed the participation of the Commonwealth Government in the Review. The Review examined the impacts of climate change on the Australian economy, and recommended medium to long-term policies and policy frameworks to improve the prospects for sustainable prosperity. Some observers have remarked that the Garnaut Review would be Australia's version of the Stern Review. A number of forums were held around Australia to engage the public on various issues relating to the Review. The Secretariat to support the Review was based in the Victorian Department of Premier and Cabinet. The final report ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ross Garnaut
Ross Gregory Garnaut (born 28 July 1946, Perth) is an Australian economist, currently serving as a vice-chancellor's fellow and professorial fellow of economics at the University of Melbourne. He is the author of numerous academic publications on international economics, public finance and economic development, particularly in relation to East Asia and the Southwest Pacific. Throughout his career Garnaut has served as senior economic adviser to Prime Minister Bob Hawke (1983–1985), Australia's ambassador to China (1985–1988), chairman of the Primary Industry Bank of Australia (1989–1994), chairman of Bankwest (1988–1995), head of division in the Papua New Guinea Department of Finance (1975–1976) and chairman of Lihir Gold (1995-2010). On 30 April 2007 the state and territory governments of Australia, at the request of Kevin Rudd, then leader of the Australian Labor Party and Leader of the Opposition, appointed Garnaut to examine the impacts of climate change on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kyoto Protocol
The was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change (UNFCCC) that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and that human-made CO2 emissions are driving it. The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. There were 192 parties (Canada withdrew from the protocol, effective December 2012) to the Protocol in 2020. The Kyoto Protocol implemented the objective of the UNFCCC to reduce the onset of global warming by reducing greenhouse gas concentrations in the atmosphere to "a level that would prevent dangerous anthropogenic interference with the climate system" (Article 2). The Kyoto Protocol applied to the seven greenhouse gases listed in Annex A: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexaflu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality is an Indirect costs, indirect cost (external cost) or indirect benefit (external benefit) to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The Air pollution#Health effects, cost of air pollution to society is not paid by either the producers or users of motorized transport. Water pollution from mills and factories are another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. The concept of externality was first developed by Alfred Marshall in the 1890s and achieved broader attention in the works of economist Arthur Cecil Pigou, Arthur Pigou in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Good (economics)
In economics, a public good (also referred to as a social good or collective good)Oakland, W. H. (1987). Theory of public goods. In Handbook of public economics (Vol. 2, pp. 485–535). Elsevier. is a commodity, product or service that is both non-excludable and non-rivalrous and which is typically provided by a government and paid for through taxation. Use by one person neither prevents access by other people, nor does it reduce availability to others, so the good can be used simultaneously by more than one person. This is in contrast to a common good, such as wild fish stocks in the ocean, which is non-excludable but rivalrous to a certain degree. If too many fish were harvested, the stocks would deplete, limiting the access of fish for others. A public good must be valuable to more than one user, otherwise, its simultaneous availability to more than one person would be economically irrelevant. Capital goods may be used to produce public goods or services that are "...ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atmosphere
An atmosphere () is a layer of gases that envelop an astronomical object, held in place by the gravity of the object. A planet retains an atmosphere when the gravity is great and the temperature of the atmosphere is low. A stellar atmosphere is the outer region of a star, which includes the layers above the opaque photosphere; stars of low temperature might have outer atmospheres containing compound molecules. The atmosphere of Earth is composed of nitrogen (78%), oxygen (21%), argon (0.9%), carbon dioxide (0.04%) and trace gases. Most organisms use oxygen for respiration; lightning and bacteria perform nitrogen fixation which produces ammonia that is used to make nucleotides and amino acids; plants, algae, and cyanobacteria use carbon dioxide for photosynthesis. The layered composition of the atmosphere minimises the harmful effects of sunlight, ultraviolet radiation, solar wind, and cosmic rays and thus protects the organisms from genetic damage. The curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Rights (economics)
Property rights are constructs in economics for determining how a resource or economic good is used and owned, which have developed over ancient and modern history, from Abrahamic law to Article 17 of the Universal Declaration of Human Rights. Resources can be owned by (and hence be the property of) individuals, associations, collectives, or governments. Property rights can be viewed as an attribute of an economic good. This attribute has three broad components, and is often referred to as a bundle of rights in the United States: # the right to use the good # the right to earn income from the good # the right to transfer the good to others, alter it, abandon it, or destroy it (the right to ownership cessation) Economists such as Adam Smith stress that the expectation of profit from "improving one's stock of capital" rests on the concept of private property rights. Conceptualizing property in economics vs. law The fields of economics and law do not have a general consensus on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Cost Of Carbon
The social cost of carbon (SCC) is an estimate, typically expressed in dollars, of the economic damages associated with emitting one additional ton of carbon dioxide into the atmosphere. By translating the effects of climate change into monetary terms, the SCC provides policymakers with a tool to assess the potential impacts of actions that increase or reduce greenhouse gas emissions. It is commonly used in regulatory impact analyses to inform investment decisions, cost-benefit assessments, and climate policy development. History The concept of pricing environmental externalities was first proposed by economist Arthur Pigou in 1912, who suggested taxing activities that generate negative externalities, such as pollution. Although Pigou's framework did not specifically address carbon dioxide emissions, it laid the intellectual foundation for the development of the Social Cost of Carbon. In the early 1990s, economist William Nordhaus introduced the Dynamic Integrated Climat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
