Carmen Bunzl - Universidad Pontificia Comillas

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Chapter 5. Conclusions 238 based among other indicators on the Gini coefficient – a measure of national income inequality. A policy architecture that cannot secure broad participation cannot deliver environmental benefits in the long run in a cost-effective or equitable manner. Promoting participation may be the greatest challenge for the design of climate policy architecture. No policy architecture can be successful without the United States, Russia, China, and India taking meaningful actions to slow their greenhouse gas emissions growth and eventually reduce their emissions. Escuela Técnica Superior de Ingeniería ICAI Carmen Bunzl Boulet Junio 2008
Chapter 5. Conclusions 239 3.3 International emissions trading Market based approaches, such as international emissions trading, are the best means to promote cost-effective climate change mitigation. In a world with scarce resources, the most cost-effective the means are, the more feasible an ambitious goal is. It is relevant to ensure that market carbon prices remain sufficiently high to drive mitigation action; they need to be combined with technology or policies based measures to start combating climate change. Cap-and-trade systems should be supplemental to domestic action in meeting emission reduction targets. International emissions trading can serve as a vehicle to transfer funds to developing countries. However, further mechanisms are required to ensure that in addition to the availability of finances, technical and capacity building are provided; and that the flow of allowance revenue is sufficient to support developing countries. Other policies – regulation, standards, and taxation – should also be pursued, and can complement a cap-and-trade system; working towards effective carbon prices and product standards. There is broad consensus that all three market mechanisms under the Kyoto Protocol should continue in the future. There is a conflict within the fundamental approach to address climate change. Some countries, lead by the USA, approach it as an economic problem, and view as the highest priority economic efficiency – low cost and certainty about emission reduction costs –. Emphasis is given to short-term economic considerations rather than to long-term environmental objectives. Emission Escuela Técnica Superior de Ingeniería ICAI Carmen Bunzl Boulet Junio 2008
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UNIVERSIDAD PONTIFICIA COMILLAS ESC
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Summary ii Summary The objective of
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Summary iv The recent rise of secto
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Resumen vi compromisos para los pa
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Index viii Index CHAPTER 1. INTRODU
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Index x 3.1.4 Institutional feasibi
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Index xii 2.3.9 Overview of sectora
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Index of figures xiv Index of figur
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Index of figures xvi Figure 4 - 10.
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1 Introduction
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Chapter 1. Introduction 7 In 1995,
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Chapter 1. Introduction 9 3 Climate
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Chapter 1. Introduction 11 The IPCC
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Chapter 1. Introduction 25 5.2 Dial
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Chapter 1. Introduction 33 COP/MOP5
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4 Case study: Spain
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Page 277 and 278: References 253 References Abanades,
Page 279 and 280: References 255 IPCC, 2007. Climate
Page 281: References 257 Persson, T.A., C. Az
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Carmen Bunzl - Universidad Pontificia Comillas

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