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GLOBAL WARMING AND EMISSION TRADING. IN: HANDBOOK OF TRANSPORT AND THE ENVIRONMENT

Thu Phuong Truong

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Abstract

This chapter discusses policies aimed at reducing global warming caused by carbon dioxide and other greenhouse gas emissions. The costs vary between different countries and also between different sectors of the economy depending on the technologies used as well as socioeconomic conditions. When these costs differ, use of the flexible mechanisms of the Kyoto Protocol, such as emission trading, allows the attainment of an overall emission reduction target to be not only technologically efficient, but also economically efficient, with a minimum level of total costs.

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What this paper is about

This chapter discusses policies aimed at reducing global warming caused by carbon dioxide and other greenhouse gas emissions. The costs vary between different countries and also between different sectors of the economy depending on the technologies used as well as socioeconomic conditions. When these costs differ, use of the flexible mechanisms of the Kyoto Protocol, such as emission trading, allows the attainment of an overall emission reduction target to be not only technologically efficient, but also economically efficient, with a minimum level of total costs.

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Available abstract

This chapter discusses policies aimed at reducing global warming caused by carbon dioxide and other greenhouse gas emissions. The costs vary between different countries and also between different sectors of the economy depending on the technologies used as well as socioeconomic conditions. When these costs differ, use of the flexible mechanisms of the Kyoto Protocol, such as emission trading, allows the attainment of an overall emission reduction target to be not only technologically efficient, but also economically efficient, with a minimum level of total costs.

Key concepts: Kyoto Protocol, Greenhouse gas, Global warming, Emissions trading, Natural resource economics, Greenhouse effect, Environmental economics, Carbon offset

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