In this edition:
- Commentary on comparing countries’ targets at the upcoming Paris climate talks
- A collection of RFF research on the impacts of a potential US carbon tax
Comparing Climate Pledges
Group of 7 (G7) leaders concluded a recent meeting in Germany with a commitment to “limit global warming to 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial levels.” The goal was announced only months before the United Nations climate change conference in Paris, where G7 representatives hope to create a global climate agreement that promotes “transparency and accountability” among countries regarding their progress toward achieving their emissions reductions targets.
In a new Resources article, RFF’s Joseph Aldy of Harvard University and RFF’s William Pizer of Duke University stress the importance of understanding the “comparability” of pledged emissions targets, which is “essential to build[ing] confidence among countries.” The authors identify three metric principles—comprehensiveness, measurability and replicability, and universality—that nations should use to compare their relative mitigation efforts.
Call for a Carbon Tax
Six European oil and gas companies recently announced their support for a carbon tax, which the New York Times editorial board highlighted this month as “an efficient and predictable policy” to reduce greenhouse gas emissions. The board notes that while “getting lawmakers to adopt a carbon tax will be difficult,” the revenue generated can be used for other tax offsets or energy investment projects.
Experts in RFF’s Center for Energy and Climate Economics answered a list of frequently asked questions about carbon tax policies, including about ways that revenue can be recycled to support employment and economic growth. For more research by RFF experts on how a US carbon tax might be implemented, as well as the potential economic and environmental impacts, visit Considering a US Carbon Tax.
