By Elmar Altvater, Achim Brunnengräber
The global is dealing with a number of critical demanding situations on the shut of the fossil and nuclear power regime: the constrained assets of inexpensive traditional oil can in basic terms be surmounted through tapping unconventional oil reserves, e.g. deep sea oil. The explosion of the oil platform Deepwater Horizon in 2010 and the next oil spill triggered huge, immense harm, which even a 12 months later can't be totally predicted. one other much more vital hazard emanating from the fossil and nuclear power regime has been delivered to our recognition by way of the Fukushima catastrophe. final yet no longer least, the matter of weather swap brought on by a rise in greenhouse gasoline emissions is looming, even though the overseas neighborhood has agreed on a substantial aid of those emissions. is that this negative results of the Kyoto Protocol and the failure of successive weather meetings the outcome of a choice for using market-based tools? nearly all of weather scientists, economists, and politicians think within the potency of “cap-and-trade” laws. They even conceive them as a constituent aspect of a “Green New Deal” or “Global eco-friendly Recovery”. The contributions during this quantity offer a serious exam of the theoretical foundations, the political implications, and the empirical stories of the appliance of industry mechanisms and monetary tools to weather coverage.
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Extra info for After Cancún: Climate Governance or Climate Conflicts
Since projected growth rates of the economy swamp a1l mitigation and adaptation costs typica1ly found in the literature" (Schneider 2008: 3). ,economic arguments can be made without resorting to dodgy modelling or peculiar assumptions. Taxing greenhouse gas emissions now makes perfect economic sense" (Yobe aud To12008: 237). 50 Simon Wolf temperatures improve the economic conditions fOT some sectors; adaptation policies can have the effecl of an economic stimulus; and the growing demand for climate proof technologies opens up export markets for some countries.
Hat the allocations have generally been more generous than they should have been, which caused, arnong other things, a (temporary) price collapse in the EU allowance price in late 2006 as it became clear (with new, Climate Capitalism 31 more precise information about the baseline emissions in the iostallations) that the allocations were ,long'. Second is that in 2004, as the final rules for the system were being establisbecl, the EU decided to allow firms to buy in credits from the CDM (on which see below) to count against their obligations under the EU ETS.
New York: Guilford Press. Olsen, K. H. (2007): The Cleao Development Mechanism's Contribution to Sustainable Development: A Review ofthe Literature. Climatic Change 84: pp. 59-73. 44 Peter Newell / Matthew Paterson Paterson, M. (2001): Risky Business: Insuranee Companies in Global Warming Polities. Global Environmental Polities I (3): pp. 18-42. Paterson, M. (2009): Resistanee makes earbon markets.. ): Upsetting the Offset: the politieal economy of earbon markets. Colchester: MayFlyBooks: pp. 244-254.