FEEM working papers "Note di lavoro" series
2015 .071

Regional Carbon Budgets: Do They Matter for Climate Policy?


Authors: Massimo Tavoni, Detlef van Vuuren
Series: Climate Change and Sustainable Development
Editor: Carlo Carraro
Keywords: Carbon Budgets, Climate Policy, IPCC
JEL n.: Q54, Q40

Abstract

Carbon budgets have emerged as a robust metric of warming, but little is known about the usefulness of regional carbon budgets as indicators of policy. This article explores the potential of regional carbon budgets to inform climate policy. Using the large database of scenarios from IPCC AR5 WGIII, we show that regional budgets are important metrics of the long term contribution to climate change and the effort required to mitigate it. However, their value appears to be more limited for informing short term courses of actions, and for predicting the economic consequences of emission reduction policies.
 

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Suggested citation: Tavoni, M., D. van Vuuren, (2015), 'Regional Carbon Budgets: Do They Matter for Climate Policy?', Nota di Lavoro 71.2015, Milan, Italy: Fondazione Eni Enrico Mattei.
 

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