Environment and Natural Resources

Now in its seventh edition, Economics of the Environment serves as a valuable supplement to environmental economics text books and as a stand-alone reference book of key, up-to-date readings from the field. Edited by Robert N. Stavins, the book covers the core areas of environmental economics courses as taught around the world; and the included authors are the top scholars in the field. Overall, more than half of the chapters are new to this edition while the rest have remained seminal works.

The Spring 2011 issue of the Belfer Center newsletter features recent and upcoming activities, research, and analysis by members of the Center community on critical global issues. This issue highlights the Belfer Center’s continuing efforts to build bridges between the United States and Russia to prevent nuclear catastrophe – an effort that began in the 1950s. This issue also features three new books by Center faculty that sharpen global debate on critical issues: God’s Century, by Monica Duffy Toft, The New Harvest by Calestous Juma, and The Future of Power, by Joseph S. Nye.

"...[T]he U.S. and China have been involved in intense talks about climate policy. If the two nations come together in a bilateral agreement—a real possibility—they would have much more leverage to persuade other major nations to join. From there, developing nations could be brought on board by giving them targets that reduce emissions without stifling growth. Advanced nations might agree to more-severe emissions cuts and allow developing nations to make gradual cuts in the early decades as they rise toward the world's average per-capita emissions. With the right incentives, developing countries can and will move onto less carbon-intensive growth paths."

This volume is a highly topical contribution to climate policy debates that offers options, based on cutting-edge social-science research, for an international climate change regime to succeed the Kyoto Protocol when it expires in 2012. It distils key findings from the Harvard Project into an easy reference for policymakers, journalists, and stakeholders.

"Because CAFE standards increase the price of new cars, the standards have the unintentional effect of keeping older — dirtier and less fuel-efficient — cars on the road longer. This is counterproductive.

Also, by decreasing the cost per mile of driving, CAFE standards — like any energy-efficiency technology standard — exhibit a rebound effect — namely, people have an incentive to drive more, not less, thereby lessening the anticipated reduction in gasoline usage."

"Because a cap-and-trade system would reduce California's overall greenhouse gas emissions, it would also lower the state's emissions of the co-pollutants. Still, it's possible, though unlikely, that co-pollutant emissions would increase in a particular locality. But here it's crucial to recognize that existing air pollution laws address such pollutants, and so any greenhouse gas allowance trades that would violate local air pollution limits would be prohibited."

Harvard economist Robert Stavins has a lead role in setting the climate change agenda and he remains optimistic of progress, as long as the pragmatic approach wins the day.

Project Co-Director Robert Stavins and Analysis Group Inc.'s Judson Jaffe spoke at an International Emissions Trading Association (IETA)–sponsored side event at the United Nations Climate Change Conference in Bali, Indonesia. They presented their new report on linking greenhouse gas emissions trading systems, which was also sponsored by IETA.

"With tradable permit systems for greenhouse gas (GHG) emissions in place in some parts of the world and actively being considered in others, increasing attention has been given to the opportunity to link these systems. Linking occurs when the government that maintains one system allows regulated entities to use allowances or credits from another system to meet domestic compliance obligations."