Trade-Offs and Performances of a Range of Alternative Global Climate Architectures for Post-2012
Environmental Science & Policy, Vol. 13, No. 1, pp. 63-71, July 2009
10 Pages Posted: 4 Jul 2011
Date Written: July 4, 2009
Quantitative assessments help to highlight the main features of climate policies by better identifying their strengths and weaknesses. In this study, we develop a grading system for assessing thirteen proposals for post-2012 climate policy. We believe that these proposals contain appropriate policy instruments which will be considered for discussions about how to design the post-2012 climate agreement. Our grades are based on four criteria: environmental effectiveness, cost effectiveness, distributional considerations and institutional feasibility. We analyze the grades with two complementary methods: principal component and cluster analysis. Our results entail three policy implications. Firstly, the higher the number of policy instruments a proposal comprises, the more difficult might be its implementation. Secondly, proposals which include a meaningful effort by the U.S. tend to fail in environmental effectiveness and institutional feasibility. Thirdly, we identify that the "first best" and the "second best" approaches belong to a stable policy group, and both may be considered as suitable candidates for post-2012 climate policy.
Keywords: Post-2012 global climate architecture, principal component analysis, cluster analysis
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