This paper proposes a global benchmark based on the calculation of the social cost of carbon to guide the energy and carbon taxation policies of countries up to 2050, in line with the objectives of the Paris Agreement. The benchmark identifies the degree to which states internalise the social cost of carbon, highlighting differences between states and groups of states in achieving the level of taxation that minimises the expected damage of climate change. Through a feasibility test, the article identifies the governance, economic and distributional conditions for a full implementation of the benchmark in the framework of the Paris Agreement. <\/p>\n","protected":false},"author":93,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"tags":[1386,1318,1320],"targets":[1314,1317],"pubblicazioni_tipologie":[773],"class_list":["post-203432","pubblicazioni","type-pubblicazioni","status-publish","hentry","tag-coal-en","tag-development-scenarios-en","tag-sustainable-development-en","targets-press-media-en","targets-research","pubblicazioni_tipologie-isi-article-en"],"acf":{"dont_show_hompage":true,"projects":{"ID":188402,"post_author":"464","post_date":"2024-06-13 15:10:06","post_date_gmt":"2024-06-13 13:10:06","post_content":"","post_title":"Energy scenarios and governance support","post_excerpt":"Provide the authorities governing the energy system with technical support based on quantitative models and analysis in order to respond appropriately and optimally to the country\u2019s obligations of energy and climate planning and the definition of energy strategies for decarbonization.\nProvide useful assessments for the investments needed for the plan for National Ecological Transition.\n","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"energy-scenarios-and-governance-support","to_ping":"","pinged":"","post_modified":"2024-07-02 10:32:27","post_modified_gmt":"2024-07-02 08:32:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.rse-web.it\/progetti\/energy-scenarios-and-governance-support\/","menu_order":0,"post_type":"progetti","post_mime_type":"","comment_count":"0","filter":"raw"},"order_posts":"","dont_show_search":false,"related_posts":false,"show_on_slider":false,"single_post_data":{"titolo_spot":"","post_content":"
Building on updated estimates of the social cost of carbon obtained from the most recent literature, this article proposes a social cost of carbon-based benchmark for carbon pricing to drive world countries\u2019 carbon pricing policies up to 2050, consistent with the Paris Agreement targets. By using a dataset on net effective carbon rates developed by the Organisation for Economic Cooperation and Development (OECD), we firstly compare both explicit and implicit carbon pricing in 2021 in 71 OECD and non-OECD countries with the social cost of carbon benchmark for 2021 and calculate the degree of internalization of the social cost of carbon averagely related to their carbon pricing instruments.<\/p>\n
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We find that there is a serious gap in current climate policies, which are far from creating optimal pricing conditions to reduce global emissions to levels needed by the Paris Agreement. The economic and distributional feasibility of a full implementation of the carbon pricing benchmark is tested in the same set of countries using two indicators, which are calculated for 2025, 2030, 2040 and 2050.<\/p>\n
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Since the test results are income-regressive among income country groups, benchmark implementation by countries within the cooperative approaches of Paris Agreement art. 6 should be accompanied by the creation of an international cooperative fund aimed to recycle at least part of the revenues collected by high-income countries to compensate affected population in lower-income countries.<\/p>\n","scarica_file":false,"link_estreno":[{"link_text":"Download Publication","link":"https:\/\/www.mdpi.com\/2071-1050\/16\/19\/8573"}],"button":{"text":"","link":""},"referente_group":false,"data_emissione":"2024-10-02","autori":"A. Molocchi, G. Mela (RSE S.p.A.)","destinazione":"MPDI Sustainability, Vol. 16, Issue 19, 2 Ottobre 2024","rif_rse":"24006433"},"satellite_post_url":""},"yoast_head":"\n