Efficient International Agreements for Reducing Emissions of CO2 *

Michael Hoel

The Energy Journal, 1991, vol. 12, issue 2, 93-108

Abstract: International agreements are necessary to achieve significant reductions of emissions of C02 and other greenhouse gases. Traditional agreements of the type “uniform percent reductions†have two disadvantages: in the first place, it would probably be difficult to get a sufficiently large participation in such an agreement, since it gives a distribution of costs of reducing emissions which may differ strongly from the advantages the countries have from avoiding climatic changes. In the second place, agreements of this type are generally not efficient. An international C02 tax and tradeable CO2 quotas are two alternative schemes which have several common features, and which both are (almost) efficient under reasonable conditions. With appropriately chosen tax reimbursements in the case of a C02 tax, or initial distribution of quotas in the case of tradeable quotas, it is possible to make all, or at least almost all, countries better off with the agreement than without.

Keywords: CO2 emission reduction; Taxes; Tradeable CO2 quota; International agreements (search for similar items in EconPapers)
Date: 1991
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.5547/ISSN0195-6574-EJ-Vol12-No2-6 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:12:y:1991:i:2:p:93-108

DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No2-6

Access Statistics for this article

More articles in The Energy Journal
Bibliographic data for series maintained by SAGE Publications ().