Environment & Climate Change

Amy Harder, the founding Executive Editor of the climate policy publication Cipher News, expressed her surprise with several positive outcomes from the recent 28th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP 28) in Dubai during a special episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program.”

Esteemed economist Geoffrey Heal lauded recent technological advancements while also expressing his frustration with the impact of international efforts to combat climate change policy during the latest episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program.” The podcast is produced by the Harvard Environmental Economics Program.

Sheila Olmstead, professor of public affairs at the LBJ School of Public Affairs at the University of Texas, Austin, shared her thoughts on U.S. water policy and environmental justice in the latest episode of “Environmental Insights.”

Richard Revesz, the Lawrence King Professor of Law at New York University and co-founder of the Institute for Policy Integrity, shared his thoughts on how the transition to a new presidential administration later this month will impact U.S. environmental and climate change policy in the latest episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program,” a podcast produced by the Harvard Environmental Economics Program.

Plants draw carbon dioxide from the atmosphere as they grow, sequestering the carbon in biomass and thus helping to mitigate climate change. This mitigation has an economic value commensurate with reduced damages from climate change. However, the U.S. National Park Service (NPS) has not calculated the carbon-sequestration benefits provided by the 84 million acres of land it manages, even though 85% of this land is vegetated.

The NPS has a dual mission—to foster both tourism ("visitation" to those researching this topic) and land stewardship. Measuring the value of carbon sequestration would complement ongoing attempts to measure the economic value of tourism by providing an initial estimate of the economic importance of one component of the NPS's stewardship obligations.

This discussion paper examines the potential role U.S. National Parks play in curbing greenhouse-gas (GHG) emissions through carbon sequestration—the process of moderating global climate change by removing carbon dioxide from the atmosphere and storing it in long-term mineral, organic, and oceanic reservoirs.

Climate policy is complicated. For a treaty to be beneficial, one must think through carefully how it will work, once it is implemented. Crucial questions include the following: How should an international treaty be designed? Should one negotiate commitments for a five-year period, or for much longer? Assuming that the treaty specifies aggregate or country-specific emission caps, what should these caps be and how should they change over time? How should the agreement be updated once policymakers, scholars, and the public learn more about the severity of the climate-change problem, or about the effects of the policy? Can the treaty be designed to encourage investments in "green" abatement technology or renewable energy sources? Finally, how can one motivate countries to participate and comply with such an agreement?

Bard Harstad, Associate Professor of Managerial Economics and Decision Sciences at the Kellogg School of Management at Northwestern University, recently released a study, "Buy Coal! A Case for Supply-Side Environmental Policy," which will be published in a forthcoming issue of the Journal of Political Economy.