Mitigation The challenge of stabilisation Session 9

What is needed and how to do it?

Different goals and approaches What do we want to achieve and how can we do it? Framework questions for the design of the regime 5 types of goals: Not mutually exclusive Not mutually inconsistent

Three ways to do it Command and control Cap and trade Tax on carbon The state imposes a limit on emissions Cap and trade Continuity with and learning from Kyoto Flexibility Cost-efficient Differentiation possible on equity-criteria How to ensure compliance and address equity issues? Tax on carbon Taxing a bad is good (pigouvian tax); More efficient: predictability-> more investments /easier & cheaper to implement Cons: complex to adjust, countries beset by corruption, no global coordination mechanism + to whom should the revenue accrue? > The two latter mechanisms can be used to create a price for carbon, but issues of credibility, flexibility and predictability.

Four possible approaches Grandfathering approach Atmosphere use rights from the past Carbon intensity approach Advocated by US, Japan Per capita approach Advocated by China, India Historical responsibility approach Advocated by LDCs

A case for urgent action Marginal costs increase with time Issues of sensitivity and absorption Climate sensitivity is about the timescale of change. Recent research indicates that climate sensitivity might be greater than expected Natural carbon absorption will also weaken as the world warms.

Who needs to take action?

Cooperation or coordination? A series of mitigation policies are undertaken outside of the UN framework EU’s Energy & Climate Package Chicago Climate Exchange Actions by cities 70% of the world’s emissions are emitted in cities After Copenhagen, some contended that it would be more useful to simply coordinate these policies Can we trust unilateral action to fix the problem? But cooperation also depends on domestic policies Cfr Putnam’s two-level game Cancun reaffirms the need for multilateralism

Carbon sinks Mitigation can mean two things: Reducing the emissions Increasing the capacity of carbon sinks That’s the idea of REDD: Reducing Emissions from Deforestation and Forest Degradation Every year, 13 Mio hectares of tropical forests disappear – that’s the size of Greece REDD is a system of compensation for countries that commit to reducing deforestation Forests as a global public good?

Geo-engineering Highly controversed idea: can we manipulate the climate? Some argue that we do so already. Considered projects include: Carbon capture and storage (CCS) Sending sulfur in the atmosphere in order to create aerosols Sending iron sulphate in the oceans A giant umbrella in space The solution of last resort?