Implications of the Paris Climate Agreement for the Russian economy

Journal Article
Implications of the Paris Climate Agreement for the Russian economy
Makarov, I.A., H. Chen, and S. Paltsev (2018)
Voprosy Ekonomiki (Economic Issues; Russian), 4: 76–94 (doi:10.32609/0042-8736-2018-4-76-94)

Abstract/Summary:

The paper applies multiregional CGE Economic Policy Projection and Analysis (EPPA) model to analyze major risks the Paris Agreement on climate change adopted in 2015 brings to Russia. The authors come to the conclusion that if parties of the Agreement meet their targets that were set for 2030 it may lead to the decrease of average annual GDP growth rates by 0.2-0.3 p. p. Stricter climate policies beyond this year would bring GDP growth rates reduction in2035-2050 by additional 0.5 p. p. If Russia doesn’t ratify Paris Agreement, these losses may increase. In order to mitigate these risks, diversification of Russian economy is required.

Citation:

Makarov, I.A., H. Chen, and S. Paltsev (2018): Implications of the Paris Climate Agreement for the Russian economy. Voprosy Ekonomiki (Economic Issues; Russian), 4: 76–94 (doi:10.32609/0042-8736-2018-4-76-94) (http://doi.org/10.32609/0042-8736-2018-4-76-94)
  • Journal Article
Implications of the Paris Climate Agreement for the Russian economy

Makarov, I.A., H. Chen, and S. Paltsev

4: 76–94 (doi:10.32609/0042-8736-2018-4-76-94)
2018

Abstract/Summary: 

The paper applies multiregional CGE Economic Policy Projection and Analysis (EPPA) model to analyze major risks the Paris Agreement on climate change adopted in 2015 brings to Russia. The authors come to the conclusion that if parties of the Agreement meet their targets that were set for 2030 it may lead to the decrease of average annual GDP growth rates by 0.2-0.3 p. p. Stricter climate policies beyond this year would bring GDP growth rates reduction in2035-2050 by additional 0.5 p. p. If Russia doesn’t ratify Paris Agreement, these losses may increase. In order to mitigate these risks, diversification of Russian economy is required.

Posted to public: 

Monday, July 15, 2019 - 15:28