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 Reseaarch; 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 Reseaarch ( email )

Zürichbergstrasse 18
Zurich, 8092
Switzerland
+41 44 632 82 80 (Phone)
+41 44 632 18 30 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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