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The Economics and Politics of Climate Change$
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Dieter Helm and Cameron Hepburn

Print publication date: 2009

Print ISBN-13: 9780199573288

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199573288.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 12 December 2019

The Implications of Rapid Development for Emissions and Climate-change Mitigation

The Implications of Rapid Development for Emissions and Climate-change Mitigation

Chapter:
(p.81) 5 The Implications of Rapid Development for Emissions and Climate-change Mitigation
Source:
The Economics and Politics of Climate Change
Author(s):

Ross Garnaut

Stephen Howes

Frank Jotzo

Peter Sheehan

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199573288.003.0005

This chapter argues that, notwithstanding the financial crisis, rapid economic growth has accelerated the increase in greenhouse gas emissions, making the effort required even greater. Furthermore, these costs are subject to policy bias and will increase with a more realistic view of policy that accounts for the absence of a smooth coordination between policy deployment, manufacturing capability, market power, and the underlying costs of capital. In the absence of a serious policy response to climate change, even the most pessimistic Special Report on Emissions Scenarios (SRES) of the Intergovernmental Panel on Climate Change and post-SRES scenarios may underestimate future emissions growth and levels. The chapter looks at the evolution of greenhouse gas emissions in recent decades and then projects their ‘business as usual’ path out to 2030, that is, the path they would take in the absence of any further response to climate change.

Keywords:   economic growth, greenhouse gas emissions, manufacturing, market power, capital, climate change, Special Report on Emissions Scenarios, Intergovernmental Panel on Climate Change

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