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International climate finance from border carbon cost levelling

Grubb, M; (2011) International climate finance from border carbon cost levelling. Climate Policy , 11 (3) pp. 1050-1057. 10.1080/14693062.2011.582285. Green open access

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Abstract

The reality of trying to raise substantial long-term revenues for international climate finance, including the outcome of the High Level Advisory Group on Climate Change Financing, is revealing the need for fresh thinking on finance sources, which takes account of political realities. Particularly after the credit crunch it will be very difficult to raise all the international finance required from sources which have clear national identity and are presently under the control of finance ministries in the OECD countries. This paper argues that the revenue associated with charging for the carbon embodied in the international trade of carbon-intensive commodities is an option with attractive properties. The paper explains this option of WTO-compatible ‘border carbon cost leveling’, indicates potential revenues from its application to key carbon-intensive commodities , and outlines the potential ethical and political economy attractions of the option.

Type: Article
Title: International climate finance from border carbon cost levelling
Open access status: An open access version is available from UCL Discovery
DOI: 10.1080/14693062.2011.582285
Publisher version: http://dx.doi.org/10.1080/14693062.2011.582285
Language: English
Additional information: This is an Accepted Manuscript of an article published by Taylor & Francis in Climate Policy on 23 May 2011, available online: http://wwww.tandfonline.com/10.1080/14693062.2011.582285.
Keywords: Climate finance; border adjustments; carbon leakage; climate & trade
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/1471189
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