This year, for the first time ever, nearly all of the world’s countries are making pledges to help limit future climate change. As of October 1st, 147 countries, representing about 85 percent of global emissions, have submitted their “Intended Nationally Determined Contributions” (INDCs). These pledges, if carried out in full, are expected to lower emissions relative to the “business as usual” forecast. However, they are not expected to prevent emissions from increasing above today’s level through 2030. To meet the global goal of limiting mean global temperature change to 2 degrees Celsius relative to the pre-industrial level, much more will need to be done after 2030. Eventually, emissions will have to fall to zero world wide—either that or countries will need to remove carbon dioxide directly from the atmosphere. A new CEPR e-book looks into what needs to be done to build a climate regime that is both workable and effective. Our own EfD researchers Thomas Sterner and Gunnar Köhlin contributed with a chapter on the challenges of pricing carbon. The book is edited by Scott Barrett, Carlo Carraro and Jaime de Melo
You can find the book here: http://www.voxeu.org/sites/default/files/image/FromMay2014/Climate%20change%20book%20for%20web.pdf