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Seven reasons to use carbon pricing in climate policy

Andrea Baranzini, Jeroen van den Bergh, Stefano Carattini, Richard Howarth, Emilio Padilla () and Jordi Roca

No 224, GRI Working Papers from Grantham Research Institute on Climate Change and the Environment

Abstract: The idea of a global carbon price has been a recurrent theme in debates on international climate policy. Discarded at the Conference of Parties (COP) of Copenhagen in 2009, it remained part of deliberations for a climate agreement in subsequent years. Unfortunately, there is still much misunderstanding about the reasons for implementing a global carbon price. As a result, ideological and political resistance against it prospers. Here we present the main arguments in favor of a carbon price to stimulate a fair and well-informed discussion about climate policy instruments. This includes arguments that have received surprisingly little attention so far. It is stressed that a main reason to use carbon pricing is environmental effectiveness, so not only economic efficiency (including the special case of cost-effectiveness). In addition, we provide ideas on how to implement a uniform global carbon price, whether using a carbon tax or emissions trading.

New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-reg
Date: 2016-02
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Working Paper: Seven Reasons to Use Carbon Pricing in Climate Policy (2015) Downloads
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