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ABSTRACT The Chinese government has announced a national mitigation target towards sustainable development of reducing carbon dioxide (CO2) emissions per unit GDP (CO2/GDP) by 40-45% by 2020 compared with the 2005 level. This paper analyses China's CO2 strategic mitigation target and suggests possible ways to reduce CO2/GDP. The mitigation target of reducing CO2 intensity in terms of GDP is ambitious and would greatly reduce CO2 emissions compared with business as usual (BAU) in China. However, it would not prevent an increase in absolute CO2 emissions and therefore a more ambitious target, e.g. a larger reduction goal for CO2/GDP, is still needed. Promoting energy structure by more ambitious economic instruments to increase the proportion of renewable energy and replace coal consumption with oil and gas, and improving energy efficiency by applied advanced technologies, are both necessary measures. Special attention should be given to improving technologies in the manufacturing sector owing to its high energy consumption and low energy use efficiency. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]

Using the results of more than 20 different global models with a particular emphasis on two rapidly growing large countries (China and India), this paper discusses the cost estimation methods that are used in setting up information for organizing models and to illustrate their global applicability to China, Korea, Japan, India, Indonesia, Europe, Latin America, the Middle East, Africa, and the United States. Some clear points emerge from the intermodal comparison exercise. First, no single technology can play a leading role in global emission mitigation. Second, although participation of all the regions is important, regions where future demographic and economic growth is concentrated will share a large part of this burden. Third, different technologies are important for different regions for mitigating emissions in the most cost-effective way. Fourth, if stringent climate policy targets are to be met, then emission-reduction actions need to be undertaken as soon as possible. [ABSTRACT FROM AUTHOR]

This paper investigates how the Kyoto Protocol has framed political discourse and policy development of greenhouse gas mitigation in Australia. We argue that ‘Kyoto’ has created a veil over the climate issue in Australia in a number of ways. Firstly, its symbolic power has distracted attention from actual environmental outcomes while its accounting rules obscure the real level of carbon emissions and structural trends at the nation-state level. Secondly, a public policy tendency to commit to far off emission targets as a compromise to implementing legislation in the short term has also emerged on the back of Kyoto-style targets. Thirdly, Kyoto’s international flexibility mechanisms can lead to the diversion of mitigation investment away from the nation-state implementing carbon legislation. A final concern of the Kyoto approach is how it has shifted focus away from Australia as the world’s largest coal exporter towards China, its primary customer. While we recognise the crucial role aspirational targets and timetables play in capturing the imagination and coordinating action across nations, our central theme is that ‘Kyoto’ has overshadowed the implementation of other policies in Australia. Understanding how ‘Kyoto’ has framed debate and policy is thus crucial to promoting environmentally effective mitigation measures as nation-states move forward from COP15 in Copenhagen to forge a post-Kyoto international agreement. Recent elections in 2009 in Japan and America and developments at COP15 suggest positive scope for international action on climate change. However, the lesson from the 2007 election and subsequent events in Australia is a caution against elevating the symbolism of ‘Kyoto-style’ targets and timetables above the need for implementation of mitigation policies at the nation-state level. [Copyright &y& Elsevier]

Global warming has been recognized as a serious issue since the fourth assessment report of the Intergovernmental Panel on Climate Change was published in 2007. Under these circumstances, Clean Development Mechanism (CDM) is expected to play a significant role, since it promises to reduce the economic gaps between developed and developing nations, as well as to economically reduce greenhouse gas emissions. In this paper, we first investigate how to evaluate risks in CDM. The real option theory is applied to quantify project risks in CDM, so that we can estimate the option values. In detail, a mathematical model of CDM is represented with a compound rainbow option, which includes continuous procedures from registration to investment. The evaluated results identify the condition of profitability, in which investment as CDM project is feasible. Our evaluation also quantifies how CDM projects become difficult to be executed due to the registration risk and the post-2012 risk. Then we investigate how to activate CDM projects. For this purpose, two options are considered: low interest loans by official financial institutions and the procurement of certified emission reductions, (CERs) by governments. The former relates to the low interest loans similar to environmental official development assistance (ODA), which certainly ease the financial burden of initial investments in CDM projects. Now that CDM projects related to ODA are already registered by CDM executive board, this option is worth evaluation. The latter, meanwhile, aims at lowering risks by the secure purchase of CERs by governments. Since the governments of the Netherlands and Japan have already established a system to purchase CERs generated by CDM, we need to assess the effect of the option to activate CDM. Based on actual financial data on CDM, we finally investigate how these options could increase the number of executable CDM projects. [ABSTRACT FROM AUTHOR]

In this paper the mid-21st-century target level for industrial carbon dioxide emissions is analyzed, taking into account the very large uncertainty about abrupt climate change. Following a brief review of integrated assessments of abrupt climate change, this study introduces an extension of DICE-2007, an integrated assessment model for climate policy analysis, which contains a hazard function that connects the rise in air temperature with the probability of abrupt change. The probability of abrupt change under a certain air temperature conditions and the economic impact of abrupt change are treated as widely variable parameters. Graphic indications of the combination of these parameters for several emission targets using the extended model show the necessity of developing adaptation measures to control the economic loss from abrupt change to below 8%, as well as to restrain global industrial carbon emissions in 2055 to the same level as those in 2005, assuming a most likely equilibrium climate sensitivity of 3 °C. Although a more stringent emissions target may be suggested in the spirit of precaution, it may lead to excessive carbon reduction from the viewpoint of cost-benefit balancing. [ABSTRACT FROM AUTHOR]

In this paper we examine how theories of sustainable and ethical consumption help us to understand a new, rapidly expanding type of consumer product designed to mitigate climate change: carbon offsets. The voluntary carbon offset market grew by 200% between 2005 and 2006, and there are now over 150 retailers of voluntary carbon offsets worldwide. Our analysis concentrates on the production and consumption of carbon offsets, drawing on ideas from governmentality and political ecology about how narratives and technologies are used to create particular types of consumer subjectivities and shape consumer choice. We critically examine three narratives that offset producers are using to position carbon offsets and examine how these narratives are shaping circuits of carbon offset production and consumption. We assess the implications for the future governance of voluntary carbon offset markets and for the study of alternative consumption. [ABSTRACT FROM AUTHOR]

Climate change mitigation poses significant challenges for South Africa and its energy development, historically highly energy intensive. At the same time, the country faces a host of daunting development challenges, exacerbated by the legacy of apartheid. Examining both challenges, this paper considers how alternative conceptions of a development path can be achieved. In the short term, energy efficiency provides large potential for mitigation - and energy savings at the same time. Changing South Africa's fuel mix, dependent to three-quarters on coal, is at least a medium-term challenge. The minerals-energy complex is so central to the economy that it is likely to take decades to change dramatically. The most transformative change is to an alteration in economic structure, likely to take long to achieve. The article examines specific policy instruments that might be implemented to achieve such a transformation. A transition to a low-carbon economy will require a paradigm shift in industrial policy. It will require considered provision for sectors sensitive to changes in energy prices. Building up new, climate-friendly industries will be needed to sustain employment and investment. To enable a just transition, provision will have to be made for emissions-intensive sectors, if they are to be phased out over time. South African government has adopted a vision, strategic direction and framework for climate policy. Policymakers have begun to understand that the future will be carbon constrained and that South Africa's emission will have to stop growing, stabilize and decline before mid-century. The challenge of climate change is a long-term challenge, requiring immediate action. This article examines actions at near-, medium- and long-term timescales. Its focus is on the most transformative change, that of seeking to shift development paths. [ABSTRACT FROM AUTHOR]

Most modelling studies that explore long-term greenhouse gas mitigation scenarios focus on cost-efficient emission pathways towards a certain climate target, like the internationally agreed target to keep global temperature increase below 2 °C compared to pre-industrial levels (the 2 °C climate target). However, different timing of reductions lead to different transient temperature increase over the course of the century and subsequently to differences in the time profiles of not only the mitigation costs but also adaptation costs and residual climate change damage. This study adds to the existing literature by focussing on the implication of these differences for the evaluation of a set of three mitigation scenarios (early action, gradual action and delayed action), all three limiting global temperature increase below 2 °C above pre-industrial levels, using different discount rates. The study shows that the gradual mitigation pathway is, for these discount rates, preferred over early or delayed action in terms of total climate costs and net benefits. The relative costs and benefits of the early or delayed mitigation action scenarios, in contrast, do strongly depend on the discount rate applied. For specific discount rates, these pathways might therefore be preferred for other reasons, such as reducing long-term uncertainty in climate costs by early action. [ABSTRACT FROM AUTHOR]

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Substantially postponing the emission reductions, compared to the ranges indicated in IPCC’s recent assessment for 2020 as required for meeting the longterm 2°C target, increases the risk of exceeding this target. The costs of a delay strategy are lower in the short term, but leads to higher costs in the longer term. The analysis shows if the emission reductions are postponed to 2030 it is not likely that higher emissions from the earlier years can be fully compensated in future decades in a so-called ‘delayed action scenario’. A full compensation would require emission reduction rates in the coming decades that are much higher than those found in the scenario literature. Without compensation, the risk of exceeding the global temperature rise target of 2°C will increase. This confirms that it is not only the reduction commitments for 2050 that determine the risk of exceeding the 2°C target, but also the path between now and 2050. To meet this 2°C target, more ambitious 2020 reduction targets are needed for the developed and developing countries than those that have been pledged so far. [ABSTRACT FROM AUTHOR]

This article examines the governance of international carbon offsets, analyzing the political economy of the origins and governance of offsets. We examine how the governance structures of the Kyoto Protocol's Clean Development Mechanism and unregulated voluntary carbon offsets differ in regulation and in complexity of the chain that links consumers and reducers of carbon, with specific consequences for carbon reductions, development, and the ability to provide "accumulation by decarbonization." We show how carbon offsets represent capital-accumulation strategies that devolve governance over the atmosphere to supranational and nonstate actors and to the market. [ABSTRACT FROM AUTHOR]

The article presents the author's view concerning the carbon footprint mitigation, climate change, and spatial regulation as part of the political responsibility in Europe. The author cites that several governments from different countries around the world are still struggling to find the best solution in order to mitigate the environmental problems, particularly the reduction of carbon emission. Meanwhile, several nations in Europe have launched regulations for carbon mitigation particularly the transecting of the net greenhouse gas emission down to zero by 2050 and the construction of zero-carbon new housing by 2016.

The article discusses the arguments concerning the inclusion of carbon sink trading in the Clean Development Mechanism (CDM) of the United Nations Framework Convention on Climate Change (UNFCC). It states that the move aims to reduce greenhouse gas (GHG) emissions by member states through the use of forests and oceans that keeps carbon dioxide and prevents them from spreading in the atmosphere. However, it has been observed that some member states have expressed their disagreement on the use of sinks which pose challenges to the countries. The UNFCC has addressed the issue by implementing the sink process through land use and forestry. It also recommends afforestation and reforestation as inexpensive methods in carrying out carbon sink trading.

The article presents the author's views regarding the discussion on the possibilities and limitations of forest carbon offsets. She claims that the forest carbon offset projects have been plagued by a set of challenges associated with measurement, monitoring and verification, particularly in remote and terrain areas. The author further stresses the need to experiment a variety of solutions in creating a verifiable carbon offsets.