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GTAP Resource #4469

"An assessment of climate-finance options and their potential interactions"
by Böhringer, Christoph

At the United Nations Climate Change Conference in Copenhagen in 2009, developed countries committed themselves to a goal of jointly mobilizing US$100 billion a year by 2020 to address the needs of developing countries. A high-level advisory group on climate change financing established by the Secretary-General of the United Nations concluded in 2010 that it is challenging but feasible to meet that goal and that funding will need to come from a wide variety of sources, such as the auctioning of emissions allowances, offset levies, taxes on international aviation and shipping, a wires charge on electricity generation, removing fossil energy subsidies in developed countries, fossil fuel extraction royalties, a financial transaction tax, and direct budget contributions. However, revenue potentials cannot necessarily be added together because of spillover effects that might exist between the different revenue sources.

In this study, we analyses the interaction between the different sources of public climate finance and provide an analysis of their relative economic trade-offs. For that purpose, we use a computable general equilibrium model of the global economy. The model provides a comprehensive and microeconomically consistent representation of price-dependent market interactions, which allows us to analyse the economic impacts and interactions of the different climate-finance options. The model is calibrated to empirical benchmark data for the year 2007 and projected forward to the year 2020, the disbursement date for the annual climate-finance flows.

We develop a range of model scenarios intended to capture the range of climate-finance sources currently discussed. Based on those scenarios, we compile static and dynamic revenue estimates of the different sources of public climate finance, compare the estimates with those of the high-level advisory group, and highlight the economic interactions between the different sources. Finally, we construct a rankin...

Resource Details (Export Citation) GTAP Keywords
Category: Other CGE Application
Status: Published
By/In: ZENTRA working paper series
Date: 2014
Version: 1
Created: Böhringer, C. (4/15/2014)
Updated: Böhringer, C. (4/15/2014)
Visits: 613
- Climate change policy

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