Environment & Climate Change

Decision-makers often seek to design policies that support sustainable development. Prospective evaluations of how effectively such policies are likely to meet sustainability goals have nonetheless remained relatively challenging. Evaluating policies against sustainability goals can be facilitated through the inclusive wealth framework, which characterizes development in terms of the value to society of its underlying capital assets, and defines development to be potentially sustainable if that value does not decline over time.

China is the world's largest emitter of carbon dioxide, accounting for one-quarter of the global total in 2013. Although the country has successfully lowered the rate of emissions from industry in some cities through improved technology and energy-efficiency measures, rapid economic growth means that more emissions are being added than removed. Without mitigation, China's CO2 emissions will rise by more than 50% in the next 15 years.

High upfront costs are a critical barrier for investments in clean infrastructure technologies in developing countries. This paper uses a case study of Thailand's electricity sector to create realistic estimates for the relative contributions of local and global technological learning to reducing these cost in the future and discusses implications of such learnings for international climate policy.

Over the last decade, carbon trading has emerged as the policy instrument of choice in the industrialized world to address global climate change. This paper argues that a transnational business coalition, representing mostly energy firms and energy-intensive manufacturers, actively promoted the global rise of carbon trading. In this process, business could draw on the support of government allies and business-oriented environmental groups, particularly in the UK and the US.

Sectoral approaches have been gaining currency in the international climate debate as a possible remedy to the shortfalls of the Kyoto Protocol. Proponents argue that a sector-based architecture can more easily invite the participation of developing countries, address competitiveness issues, and enable immediate emissions reductions. However, given the numerous proposals, much confusion remains as to what sectoral approaches actually are. This article provides a simple, yet comprehensive, taxonomy of the various proposals for sectoral approaches.

The 1992 United Nations Framework Convention on Climate Change (UNFCCC) created a 2-tier world. It called upon the developed ("Annex I") countries to "take the lead" in reducing carbon emissions, and, under the principle of "common but differentiated responsibilities," established no time frame for developing countries to follow. However, a consensus is now emerging in favor of low stabilization targets. These targets cannot be achieved without the participation of developing countries, which today emit about half of global CO2 emissions and whose future emissions increase faster than the emissions of industrialized countries under "business as usual" scenarios.

Carbon Capture and Storage (CCS), as an option in the portfolio of mitigation actions to combat climate change, is expected to have far-reaching implications for China. This paper (1) explores the strategic significance of CCS for China by making an extreme scenario analysis of Chinese power sector in 2030; (2) provides an overview of the recent CCS activities in China; and (3) identifies the major challenges with respect to CCS development in China and put forwards immediate strategies.

Since the agreement of the Kyoto Protocol, business in the EU and the US has been split over the course of climate policy. This article reviews the regulatory preferences of major business associations on both sides of the Atlantic, and assesses whether the transatlantic gap on corporate positioning on climate change is actually narrowing and what the compromise solution might be.