Economic tools to promote transparency and comparability in the Paris Agreement

The Paris Agreement culminates a six-year transition towards an international climate policy architecture based on parties submitting national pledges every five years1. An important policy task will be to assess and compare these contributions2, 3. We use four integrated assessment models to produce metrics of Paris Agreement pledges, and show differentiated effort across countries: wealthier countries pledge to undertake greater emission reductions with higher costs. The pledges fall in the lower end of the distributions of the social cost of carbon and the cost-minimizing path to limiting warming to 2 °C, suggesting insufficient global ambition in light of leaders’ climate goals. Countries’ marginal abatement costs vary by two orders of magnitude, illustrating that large efficiency gains are available through joint mitigation efforts and/or carbon price coordination. Marginal costs rise almost proportionally with income, but full policy costs reveal more complex regional patterns due to terms of trade effects

Building blocks: a strategy for near-term action within the new global climate framework

The Paris Agreement cemented a new framework for global climate policy based on the voluntary and non-legally binding emission reduction actions by both developed and developing countries. The building blocks strategy for climate action discussed in this Special Issue is well adapted to and strongly complements this new structure. Building blocks focus on multiple transnational mechanisms for mobilizing a wide range of both public and private actors to take actions that reduce emissions by capturing incentives other than climate mitigation as such. The initial commitments by countries under the Paris Agreement are insufficient to meet the level of action required to stabilize the global climate system at a safe level. As such, new voluntary action by public and private actors will be required. The building blocks strategy, and the examples presented in this Special Issue, offers answers to the question of how to generate and design smaller-scale initiatives

Policy monitoring in the EU: The impact of institutions, implementation, and quality

Policy monitoring is often seen as a crucial ingredient of policy evaluation, but theoretically informed empirical analyses of real-world policy monitoring practices are still rare. This paper addresses this gap by focusing on climate policy monitoring in the European Union, which has a relatively stringent system of greenhouse gas monitoring but a much less demanding approach to monitoring policies. It explores how institutional settings, policy implementation, and the quality of information may impact the practices and politics of policy monitoring. Drawing on quantitative regression models and qualitative interviews, it demonstrates that policy monitoring has evolved over time and is itself subject to implementation pressures, but also exhibits learning effects that improve its quality. In further developing both everyday policy monitoring practices and academic understanding of them, there is a need to pay attention to their design—specifically, the impact of any overarching rules, the institutional support for implementation, and the criteria governing the quality of the information they deliver. In short, policy monitoring should be treated as a governance activity in its own right, raising many different design challenges

Climate negotiators’ and scientists’ assessments of the climate negotiations

Climate negotiation outcomes are difficult to evaluate objectively because there are no clear reference scenarios. Subjective assessments from those directly involved in the negotiations are particularly important, as this may influence strategy and future negotiation participation. Here we analyze the perceived success of the climate negotiations in a sample of more than 600 experts involved in international climate policy. Respondents were pessimistic when asked for specific assessments of the current approach centered on voluntary pledges, but were more optimistic when asked for general assessments of the outcomes and usefulness of the climate negotiations. Individuals who are more involved in the negotiation process tended to be more optimistic, especially in terms of general assessments. Our results indicate that two reinforcing effects are at work: a high degree of involvement changes individuals’ perceptions and more optimistic individuals are more inclined to remain involved in the negotiations

Post-2020 climate agreements in the major economies assessed in the light of global models

Integrated assessment models can help in quantifying the implications of international climate agreements and regional climate action. This paper reviews scenario results from model intercomparison projects to explore different possible outcomes of post-2020 climate negotiations, recently announced pledges and their relation to the 2 °C target. We provide key information for all the major economies, such as the year of emission peaking, regional carbon budgets and emissions allowances. We highlight the distributional consequences of climate policies, and discuss the role of carbon markets for financing clean energy investments, and achieving efficiency and equity

Obstructed Labor and Caesarean Delivery: The Cost and Benefit of Surgical Intervention

Background: Although advances in the reduction of maternal mortality have been made, up to 273,000 women will die this year from obstetric etiologies. Obstructed labor (OL), most commonly treated with Caesarean delivery, has been identified as a major contributor to global maternal morbidity and mortality. We used economic and epidemiological modeling to estimate the cost per disability-adjusted life-year (DALY) averted and benefit-cost ratio of treating OL with Caesarean delivery for 49 countries identified as providing an insufficient number of Caesarean deliveries to meet demand. Methods and Findings Using publicly available data and explicit economic assumptions, we estimated that the cost per DALY (3,0,0) averted for providing Caesarean delivery for OL ranged widely, from $251 per DALY averted in Madagascar to$3,462 in Oman. The median cost per DALY averted was $304. Benefit-cost ratios also varied, from 0.6 in Zimbabwe to 69.9 in Gabon. The median benefit-cost ratio calculated was 6.0. The main limitation of this study is an assumption that lack of surgical capacity is the main factor responsible for DALYs from OL. Conclusions: Using the World Health Organization's cost-effectiveness standards, investing in Caesarean delivery can be considered “highly cost-effective” for 48 of the 49 countries included in this study. Furthermore, in 46 of the 49 included countries, the benefit-cost ratio was greater than 1.0, implying that investment in Caesarean delivery is a viable economic proposition. While Caesarean delivery alone is not sufficient for combating OL, it is necessary, cost-effective by WHO standards, and ultimately economically favorable in the vast majority of countries included in this study

Consequences of Covid-19 on the Social Isolation of the Chinese Economy: Accounting for the Role of Reduction in Carbon Emissions

The main contribution of the present study to the energy literature is linked to the interaction between economic growth and pollution emission amidst globalization. Unlike other studies, this research explores the effect of economic and social isolation as a dimension of globalization. This allows underpinning the effects on the Chinese economic development of the isolation phenomenon as a consequence of coronavirus (COVID-19). To this end, annual time frequency data is used to achieve the hypothesized claims. The study resolutions include (i) The existence of a long-run equilibrium bond between the outlined variables (ii) The long-run estimates suggest that the Chinese economy over the investigated period, is inelastic to pollutant–driven economic growth as reported by the dynamic ordinary least squares, fully modified ordinary least squares and canonical regressions with a magnitude of 0.09%. (iii) The Chinese isolation is less responsive to its economic growth while the country political willpower is elastic as demonstrated by current government commitment to dampen the effect of the COVID-19 pandemic. This is marked by the aggressive response on the government officials resolute by flattening the exponential impact of the pandemic. Based on these robust results some far-reaching policy implication(s) are underlined in the concluding remark section