274 pages, 47 b/w illustrations, 5 tables
At the UN Climate Negotiations in Copenhagen, 117 heads of state concluded that low-carbon development is necessary in order to combat climate change. However, they also understood that transition to a low-carbon economy requires the implementation of a portfolio of policies and programs--a challenging endeavour for any nation. This book addresses the need for information about factors impacting climate policy implementation, using as a case study one effort that is at the heart of attempts to create a low-carbon future: the European Emission Trading Scheme. It explores problems surrounding the implementation of the ETS, including the role of vested interests, the impact of design details and opportunities to attract long-term investments. It also shows how international climate cooperation can be designed to support the domestic implementation of low-carbon policies. This timely analysis of carbon pricing contains important lessons for all those concerned with the development of post-Copenhagen climate policy.
Karsten Neuhoff makes an interesting case in showing that the failure to adopt a comprehensive climate agreement in Copenhagen may have been the result of some fundamental underlying changes. The Copenhagen Accord could therefore mark the beginning of a bottom-up approach in which domestic policy design based on carbon pricing as well as specific regulations can be supported through international co-operation. If his analysis proves right, the EU is in principle well equipped to such a change, but may have to rethink some elements of its international negotiation strategy accordingly.
- Jos Delbeke, Director-General for Climate Action, European Commission
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