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Lecture 17

RES-ECON 162 Lecture 17: Res econ 262- 4:27:17
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11 Pages
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Department
Resource Economics
Course Code
RES-ECON 162
Professor
Laurence De Geeste

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Description
Res econ 262- 4/27/17 History on ozone depletion. Concentrations of ozone depleting chemicals. Global CO2 emissions = population x (GDP/POPULATION) * ( Developing countries who are party o the protocol do not have binding emissions reduction targets. Copenhagen Accord 2009 Carbon prices are the market prices of tradabale carbon permits. Costs of reducing greenhouse emissions- Benefits of reducing- estimates of the marginal damage of greenhouse gases are even more and the ability of economics to adapt or climate change. will change, the impacts of change Policy responses- two responses for global warming- Trade or other sanctions against free-riding countries. The Montreal Protocol implemented a ban on trade in ozone depleting chemicals with non- participating nations. Reciprocal treatment on other international issues. A country may be willing to forego a free-riding opportunity if it thinks it can gain cooperation on other issues it thinks are important. Side payments. Transfers of something valuable may convince a country to pass up a free-riding opportunity. E.g., Multilateral fund and technology transfer under the Montreal Protocol, and Joint Implementation under the Kyoto Protocol. Actual treaties use various auxiliary provisions to limit freeriding, and increase cooperation. One of these is to negotiate a minimum participation requirement, which is a rule that, in part, determines how many countries must join a treaty before it enters into force. Trade or other sanctions against free-riding countries. The Montreal Protocol implemented a ban on trade in ozone depleting chemicals with non- participating nations. Reciprocal treatment on other international issues. A country may be willing to forego a free-riding opportunity if it thinks it can gain cooperation on other issues it thinks are important. Side payments. Transfers of something valuable may convince a country to pass up a free-riding opportunity. E.g., Multilateral fund and technology transfer under the Montreal Protocol, and Joint Implementation under the Kyoto Protocol. Often international environmental negotiations open up conflicts between developed and developing nations. •Developing countries are less able to take on global environmental challenges. 
 •Their priorities tend to be mainly on other things we take for granted— basic health needs, nutrition/food, education, etc.—not primarily on the global environment. 
 •Some international environmental problems are due mainly to the actions of richer countries (Global climate change and stratospheric ozone depletion). Developing countries argue that they shouldn’t bear large costs to fix problems caused by the industrialized nations. 
 • The problem of global climate change is that the concentration of greenhouse gases in the atmosphere has been growing since the industrial revolution. This is causing a steady warming trend that could continue for centuries. Major economic impacts of global warming likely include: • Changing agriculture and forests (composition and geographically) Increased weather variability, e.g., more severe storms, heat waves, • droughts, flooding, etc.
Sea-level rise
Loss of habitat and species
Reduced water supplies in some areas Weather related mortality and morbidity • Carbon prices • Prices of CO2 are calculated by dividing the carbon price by 3.67. 6.3 Costs of reducing greenhouse gas emissions Estimates of the costs of reducing greenhouse gas emissions are highly uncertain, because of the long time frame and uncertainty about: • ✓Future economic growth
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