By Elmar Altvater, Achim Brunnengräber
The global is dealing with a number of critical demanding situations on the shut of the fossil and nuclear power regime: the constrained assets of inexpensive traditional oil can merely be surmounted by way of tapping unconventional oil reserves, e.g. deep sea oil. The explosion of the oil platform Deepwater Horizon in 2010 and the next oil spill brought on huge, immense harm, which even a yr later can't be totally anticipated. one other much more very important probability emanating from the fossil and nuclear strength regime has been dropped at our recognition via the Fukushima catastrophe. final yet no longer least, the matter of weather swap brought on by a rise in greenhouse gasoline emissions is looming, even though the foreign neighborhood has agreed on a substantial relief of those emissions. is that this terrible results of the Kyoto Protocol and the failure of successive weather meetings the final result of a choice for using market-based tools? the vast majority of weather scientists, economists, and politicians think within the potency of “cap-and-trade” rules. They even conceive them as a constituent element of a “Green New Deal” or “Global eco-friendly Recovery”. The contributions during this quantity offer a serious exam of the theoretical foundations, the political implications, and the empirical stories of the applying of marketplace mechanisms and fiscal tools to weather coverage.
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Extra resources for After Cancún: Climate Governance or Climate Conflicts
Hat includes a broad swathe of mainstream environmental NGOs (most of whom now give qualified support to the ETS), financiers, project developers, lawyers, and the regulated firms who prefer it to any other policy design. hat lobbies openly for more aggressive emissions reductions. It can be regarded, in effect, as a hegemonic coalition in European climate policy, and has displaced the interests of the main interests who atternpt still to stsll climate policy per se. hat the ETS can be regarded as a considerable success, as no other overall policy design on climate change can be said to have done this.
Tbe tendency to pursue low-banging fruit strategies where large volumes of CERs can be generated from modest, incremental and low-cost cbanges to business as usual production has been affirmed. , 70% of CERs in the first year and half were issued for abating gases other than CO2 in particuiar the destruction of industrial gases used in refrigeration (paulsson 2009). Because CERs are weighted according to the global warming potential of agas, this created incentives to target projects airned at removing gases such as HFCs rather than more difficult and longer term investments in renewable energy for exarople.
Policy-makers, however, have to take the general decision for climate protection without relying on cost-benefit considerations. 2 And turning climate politics into an cconomic challenge Nonetheless, the general argument ofthe Stern Review bad great effect on policy debates by supporting those who want to make the case for cuts in emissions (Interview Christopher Taylor). This is by no means accidental. The objective of the report was not only to put as much authority behind the Economics of Climate Change as possible by making it an official government report, commissioned by the then Chancellor of the Exchequer in the UK.
After Cancún: Climate Governance or Climate Conflicts by Elmar Altvater, Achim Brunnengräber