Benefits of Multi-Gas Mitigation: An Application of the Global Trade and Environment Model (GTEM)

Guy Jakeman and Brian S. Fisher

The Energy Journal, 2006, vol. 27, issue 3_suppl, 323-342

Abstract: To address the problem of human induced climate change effectively, climate policy must embody the principles of economic efficiency, environmental effectiveness and equity. In this paper it is shown that such a climate change policy should include a broad coverage of major greenhouse gases and sources. ABARE’s Global Trade and Environment Model (GTEM) is used to analyse the economic impact of meeting a radiative forcing target using policies that focus on carbon dioxide emissions only and policies that focus on all major greenhouse gases and sources, including land use change and forestry emissions. It is projected that incorporating non-carbon dioxide gases into climate change policy reduces the economic adjustment cost significantly. Broadening the sources of carbon dioxide to include land use change and forestry emissions further reduces the economic adjustment costs.

Keywords: Multi-gas mitigation; GTEM model; Climate change policy (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:27:y:2006:i:3_suppl:p:323-342

DOI: 10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI3-16

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