The Global Refunding System and Climate Change

CER-ETH Working Paper No. 07/62

13 Pages Posted: 6 Jan 2007

See all articles by Hans Gersbach

Hans Gersbach

ETH Zurich - CER-ETH -Center of Economic Research; IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR)

Date Written: January 2007

Abstract

We propose a global refunding scheme as a new international approach to addressing climate change. A global refunding system allows each country to set its carbon emission tax, while aggregate tax revenues are partially refunded to member countries in proportion to the relative emissions reduction they achieve within a period. Nationally determined environmental policies and global refunding create increasing incentives to reduce emissions and may achieve efficiency and equity objectives of global climate policy.

Keywords: Global Refunding, climate change, international approach, carbon emissions reduction

JEL Classification: D7, F5, H2, Q5

Suggested Citation

Gersbach, Hans, The Global Refunding System and Climate Change (January 2007). CER-ETH Working Paper No. 07/62, Available at SSRN: https://ssrn.com/abstract=954889 or http://dx.doi.org/10.2139/ssrn.954889

Hans Gersbach (Contact Author)

ETH Zurich - CER-ETH -Center of Economic Research ( email )

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CESifo (Center for Economic Studies and Ifo Institute)

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Centre for Economic Policy Research (CEPR)

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