Think globally, act cooperatively: Progressing offshore mitigation for Aotearoa New Zealand

Catherine Leining, Sasha Maher () and Hannah Kotula ()
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Sasha Maher: Motu Economic and Public Policy Research
Hannah Kotula: Motu Economic and Public Policy Research

No 24_54, Working Papers from Motu Economic and Public Policy Research

Abstract: Cooperation between countries is key to avoiding the most severe impacts of climate change. Under current policies, the world will face temperatures of 3oC above pre-industrial levels by 2100. Developing countries hold three quarters of the cost-effective mitigation needed in 2030 under 1.5oC pathways, but currently lack the capability to make it happen and historically have contributed least to the problem. If higher- and lower-income countries fail to work together to unlock that mitigation, the world will lock in dangerous climate change. Providing conventional climate finance to lower-income countries is crucial but is not the only option – nor has it been sufficient so far.

Keywords: Climate change; emissions trading; carbon markets; Paris Agreement; New Zealand; Article 6; cooperation (search for similar items in EconPapers)
JEL-codes: Q54 Q56 Q58 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2024-10
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-int
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