The second-largest volcanic eruption of the 20th century occurred at Mt. Pinatubo in the Philippines, June 15, 1991. The eruption produced a cloud of volcanic ash hundreds of miles across.
USGS Photo
A Voting Architecture for the Governance of Free-Driver Externalities, with Application to Geoengineering
In a new Harvard Project Discussion Paper, Martin L. Weitzman discusses approaches to the governance of one important type of geoengineering.
To read the full text online, click here>
FEATURED PUBLICATIONS
April 2013
"The Role of Forests in a Future Climate Agreement"
By Donna Lee
Forests can play a significant role in helping to avoid dangerous climate change, and a global agreement under the UNFCCC would be uniquely placed to support efforts in this regard. The rising global demand for agricultural and other land-based products means that pressures on land are increasingly cross-border, and there is an accelerating expansion of the deforestation frontier. Smart domestic policies are critical to solving the deforestation challenge, and recent private sector interest in "sustainable agriculture" is encouraging. However, global agreements that value standing forests and provide incentives that positively impact land use change decisions can be an equally important tool.
February 2013
"A Climate Diplomacy Proposal: Carbon Pricing Consultations"
By Adele Morris, Warwick McKibbin and Peter Wilcoxen
The United States has considerable tax administration and cap-and-trade expertise that could highlight potentially successful carbon pricing approaches. Although this experience is not climate-related, the United States deploys an efficient and highly compliant excise tax system, and it could assist developing country efforts to build their own capacity to tax carbon. The United States also has long experience with cap-and-trade systems for criteria air pollutants, much of which is transferable to greenhouse-gas emissions trading.
January 2013
Economics of Climate Change and Environmental Policy: Selected Papers of Robert N. Stavins, 2000–2011
By Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Director, Harvard Project on Climate Agreements
Professor Robert Stavins, Harvard Project Director, recently published the second volume of his collected papers with Edward Elgar Publishing. The 26 essays in the volume cover a wide range of topics, including: environmental policy analysis; economic analysis of environmental policy instruments; economics and technical change; natural resource economics — land and water; and domestic and international climate change policy. The first volume of Professor Stavins' papers was published in 2000 — also by Edward Elgar — covering the period 1988–1999.
March 7, 2013
"The Sordid History of Congressional Acceptance and Rejection of Cap-and-Trade: Implications for Climate Policy"
Vox
By Richard Schmalensee and Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Director, Harvard Project on Climate Agreements
Not so long ago, cap-and-trade mechanisms for environmental protection were popular in Congress. Now, such mechanisms are denigrated. What happened? This column tells the sordid tale of how conservatives in Congress who once supported cap and trade now lambast climate change legislation as 'cap-and-tax'. Ironically, conservatives are choosing to demonise their own market-based creation. The successful conservative campaign that disparaged cap-and-trade means it may now be politically impossible to promote it in the US. The good news? Elsewhere, cap and trade is now a proven, viable option for tackling large-scale environmental problems.
March 1, 2013
"Is Obama's Climate Change Policy Doomed to Fail? Maybe Not"
PBS NEWSHOUR
By Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Director, Harvard Project on Climate Agreements
"...[T]here will be actions having significant implications for U.S. CO2 emissions. The big difference is that most will not be called 'climate policy' and virtually all will be within the regulatory and executive-order domain, not new legislation. Will this set of actions and developments put the U.S. on a path to the long-term Waxman-Markey target of an 83 percent reduction below 2005 by 2050? Of course not. For that, a meaningful legislated, economy-wide, national carbon pricing regime will be necessary."
January 2013
"Treaty Design and Duration: Effects on R&D, Participation, and Compliance"
By Bard Harstad
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?
