A fair compromise to break the climate impasse. A major economies forum approach to emissions reductions budgeting
- Univ. of Milan-Bicocca (Italy). International Environmental Policy
Key messages of the study are: Given the stalemate in U.N. climate negotiations, the best arena to strike a workable deal is among the members the Major Economies Forum on Energy and Climate (MEF); The 13 MEF members—including the EU-27 (but not double-counting the four EU countries that are also individual members of the MEF)—account for 81.3 percent of all global emissions; This proposal devises a fair compromise to break the impasse to develop a science-based approach for fairly sharing the carbon budget in order to have a 75 percent chance of avoiding dangerous climate change; To increase the likelihood of a future climate agreement, carbon accounting must shift from production-based inventories to consumption-based ones; The shares of a carbon budget to stay below 2 deg C through 2050 are calculated by cumulative emissions since 1990, i.e. according to a short-horizon polluter pays principle, and national capability (income), and allocated to MEF members through emission rights. This proposed fair compromise addresses key concerns of major emitters; According to this accounting, no countries have negative carbon budgets, there is substantial time for greening major developing economies, and some developed countries need to institute very rapid reductions in emissions; and, To provide a 'green ladder' to developing countries and to ensure a fair global deal, it will be crucial to agree how to extend sufficient and predictable financial support and the rapid transfer of technology.
- Research Organization:
- The Brookings Institution, Washington, DC (United States). Global Economy and Development
- OSTI ID:
- 22110338
- Resource Relation:
- Other Information: Policy Paper 2013-02
- Country of Publication:
- United States
- Language:
- English
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