Tradable climate liabilities: A thought experiment
作者: Etienne Billette de VillemeurJustin Leroux
作者单位: 1LEM UMR 9221, Université de Lille, France
2HEC Montréal, CIRANO & CRÉ. 3000 chemin de la Câte-Sainte-Catherine, Montreal, QC H3T 2A7, Canada
刊名: Ecological Economics, 2019, Vol.164
来源数据库: Elsevier Journal
DOI: 10.1016/j.ecolecon.2019.106355
关键词: Climate liabilityMarket instrumentsPigovian taxRisk sharing
原始语种摘要: Abstract(#br)We envision the creation of a climate liability market to address climate change. Each period, countries are issued liability commensurate to their emissions of the period. Liability bearers are required to pay over time, as climate harm materializes. Revenues are used to compensate participating countries in proportion of climate harm. Because liabilities are traded like financial debt among participants, the mechanism achieves a unique carbon price through decentralization of the choice of a discount rate as well as beliefs about the severity of the climate problem. We discuss properties of such a mechanism along the dimensions of efficiency, fairness, exposure to risk, commitment, participation, as well as implementation challenges.
全文获取路径: Elsevier  (合作)
影响因子:2.855 (2012)

  • liabilities 负债
  • climate 气候
  • commensurate 同数量的
  • discount 折扣
  • liability 责任
  • discuss 议论
  • market 市场
  • participation 参与
  • creation 创造
  • financial 财政的