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Climate finance [electronic resource] : regulatory and funding strategies for climate change and global development / edited by Richard B. Stewart, Benedict Kingsbury, and Bryce Rudyk.

Publication:
New York : New York University Press, 2009.
Format/Description:
Book
1 online resource (346 p.)
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Subjects:
Climatic changes -- Government policy.
Climatic changes -- Economic aspects.
Economic development -- Environmental aspects.
Form/Genre:
Electronic books.
Language:
English
Summary:
Preventing risks of severe damage from climate change not only requires deep cuts in developed country greenhouse gas emissions, but enormous amounts of public and private investment to limit emissions while promoting green growth in developing countries. While attention has focused on emissions limitations commitments and architectures, the crucial issue of what must be done to mobilize and govern the necessary financial resources has received too little consideration. In Climate Finance, a leading group of policy experts and scholars shows how effective mitigation of climate change will depend on a complex mix of public funds, private investment through carbon markets, and structured incentives that leave room for developing country innovations. This requires sophisticated national and global regulation of cap-and-trade and offset markets, forest and energy policy, international development funding, international trade law, and coordinated tax policy. Thirty-six targeted policy essays present a succinct overview of the emerging field of climate finance, defining the issues, setting the stakes, and making new and comprehensive proposals for financial, regulatory, and governance mechanisms that will enrich political and policy debate for many years to come. The complex challenges of climate finance will continue to demand fresh insights and creative approaches. The ideas in this volume mark out starting points for essential institutional and policy innovations.
Contents:
Climate Finance
Front matter
Contents
Acknowledgments
Foreword: NYU Abu Dhabi and the Sustainable Environment
Summary of Key Findings and Recommendations
About the Contributors
Part I. Climate Change and Mitigation: Overview and Key Themes
1. Climate Finance for Limiting Emissions and Promoting Green Development: Mechanisms, Regulation, and Governance
2. Understanding the Causes and Implications of Climate Change
3. The Climate Financing Problem: Funds Needed for Global Climate Change Mitigation Vastly Exceed Funds Currently Available
4. The Future of Climate Governance: Creating a More Flexible Architecture
Part II. Proposals for Climate Finance: Regulatory and Market Mechanisms and Incentives
A. Trading or Taxes?
5. Cap-and-Trade Is Preferable to a Carbon Tax
B. Reforming the Clean Development Mechanism (CDM )
6. Expectations and Reality of the Clean Development Mechanism: A Climate Finance Instrument between Accusation and Aspirations
C. Sectoral Programs for Emissions Control and Crediting
7. Why a Successful Climate Change Agreement Needs Sectoral Elements
8. Sectoral Crediting: Getting the Incentives Right for Private Investors
9. Forest and Land Use Programs Must Be Given Financial Credit in Any Climate Change Agreement
10. Stock-and-Flow Mechanisms to Reduce Land Use, Land Use Change, and Forestry Emissions: A Proposal from Brazil
D. Leveraging Trading to Maximize Climate Benefits
11. Mitigating Climate Change at Manageable Cost: The Catalyst Proposal
12. Engaging Developing Countries by Incentivizing Early Action
E. Linking Trading Systems
13. Carbon Market Design: Beyond the EU Emissions Trading Scheme
F. Investor Perspectives
14. Incentivizing Private Investment in Climate Change Mitigation
15. Investment Opportunities and Catalysts: Analysis and Proposals from the Climate Finance Industry on Funding Climate Mitigation
Part III. Bringing Developed and Developing Countries Together in Climate Finance Bargains: Trust, Governance, and Mutual Conditionality
A. Meeting Developing Country Climate Finance Priorities
16. Developing Country Concerns about Climate Finance Proposals: Priorities, Trust, and the Credible Donor Problem
17. Developing Countries and a Proposal for Architecture and Governance of a Reformed UNFCCC Financial Mechanism
18. Climate Change and Development: A Bottom-Up Approach to Mitigation for Developing Countries?
19. Operationalizing a Bottom-Up Regime: Registering and Crediting NAMAs
B. Conditionality and Its Governance
20. From Coercive Conditionality to Agreed Conditions: The Only Future for Future Climate Finance
21. Getting Climate-Related Conditionality Right
22. Making Climate Financing Work: What Might Climate Change Experts Learn from the Experience of Development Assistance?
Part IV. National Policies: Implications for the Future Global Climate Finance Regime
23. Climate Legislation in the United States: Potential Framework and Prospects for International Carbon Finance
24. The EU ETS: Experience to Date and Lessons for the Future
25. Greenhouse Gas Emissions and Mitigation Measures in China
26. Cities and GHG Emissions Reductions: An Opportunity We Cannot Afford to Miss
27. A Prototype for Strategy Change in Oil-Exporting MENA States? The Masdar Initiative in Abu Dhabi
Part V. Climate Finance and World Trade Organization (WTO) Law and Policy
28. The WTO and Climate Finance: Overview of the Key Issue
29. Carbon Trading and the CDM in WTO Law
30. Countervailing Duties and Subsidies for Climate Mitigation: What Is, and What Is Not, WTO-Compatible?
31. Border Climate Adjustment as Climate Policy
32. Enforcing Climate Rules with Trade Measures: Five Recommendations for Trade Policy Monitoring
33. Carbon Footprint Labeling in Climate Finance: Governance and Trade Challenges of Calculating Products’ Carbon Content
Part VI. Taxation of Carbon Markets
34. Fiscal Considerations in Curbing Climate Change
35. Tax and Efficiency under Global Cap-and-Trade
36. Tax Consequences of Carbon Cap-and-Trade Schemes: Free Permits and Auctioned Permits
Afterword: Reflections on a Path to Effective Climate Change Mitigation
Abbreviations
Index
Notes:
Includes bibliographical references and index.
Includes index.
"A publication of the New York University Abu Dhabi Institute."
Contributor:
Stewart, Richard B.
Kingsbury, Benedict.
Rudyk, Bryce.
ISBN:
0-8147-8657-X
0-8147-4143-6
OCLC:
779828477
Publisher Number:
10.18574/9780814786574 doi