Regional Analysis

South Korea’s Nationally Determined Contribution (NDC) to the Paris Agreement on climate centers on a pledge to reduce its greenhouse gas emissions by 37 percent in 2030 from levels projected for that year under business-as-usual policies. To reach that target, the government has launched two main climate policy instruments: a cap-and-trade system (South Korean Emissions Trading System, or KETS) and a fuel economy standard for light-duty vehicles.

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.

The ozone layer depletion and its recovery, as well as the climate influence of ozone-depleting substances (ODSs) and their substitutes that influence climate, are of interest to both the scientific community and the public. Here we report on the emissions of ODSs and their substitute from China, which is currently the largest consumer (and emitter) of these substances. We provide, for the first time, comprehensive information on ODSs and replacement hydrofluorocarbon (HFC) emissions in China starting from 1980 based on reported production and usage. We also assess the impacts (and costs) of controls on ODS consumption and emissions on the ozone layer (in terms of CFC-11-equivalent) and climate (in CO2-equivalent). In addition, we show that while China’s future ODS emissions are likely to be defined as long as there is full compliance with the Montreal Protocol; its HFC emissions through 2050 are very uncertain. Our findings imply that HFC controls over the next decades that are more stringent than those under the Kigali Amendment to the Montreal Protocol would be beneficial in mitigating global climate change.

Abstract: Nitrogen (N) availability exerts strong control on carbon storage in the forests of Northern Eurasia. Here, using a process-based model, we explore how three factors that alter N availability—permafrost degradation, atmospheric N deposition, and the abandonment of agricultural land to forest regrowth (land-use legacy)—affect carbon storage in the region’s forest vegetation over the 21st century within the context of two IPCC global-change scenarios (RCPs 4.5 and 8.5). For RCP4.5, enhanced N availability results in increased tree carbon storage of 27.8 Pg C, with land-use legacy being the most important factor. For RCP8.5, enhanced N availability results in increased carbon storage in trees of 13.4 Pg C, with permafrost degradation being the most important factor. Our analysis reveals complex spatial and temporal patterns of regional carbon storage. This study underscores the importance of considering carbon-nitrogen interactions when assessing regional and sub-regional impacts of global change policies.

Summary: Amid rollbacks of the Clean Power Plan and other environmental regulations at the federal level several U.S. states, cities and towns have resolved to take matters into their own hands and implement policies to promote renewable energy and reduce greenhouse gas emissions.  One popular approach, now in effect in 29 states and the District of Columbia, is to set Renewable Portfolio Standards (RPS), which require electricity suppliers to source a designated percentage of electricity from available renewable power generating technologies.

Boosting levels of renewable electric power not only helps mitigate global climate change but also reduces local air pollution. Quantifying the extent to which this approach improves air quality could help legislators better assess the pros and cons of implementing policies such as RPS. Toward that end, a research team at MIT has developed a new modeling framework that combines economic and air-pollution models to assess the projected sub-national impacts of RPS and carbon pricing on air quality and human health, as well as on the economy and on climate change. In a study focused on the U.S. Rust Belt, their assessment showed that the financial benefits associated with air quality improvements from these policies would more than pay for the cost of implementing them.

Applying their modeling framework, the MIT researchers estimated that existing RPS in the nation’s Rust Belt region generate a health co-benefit of $94 per ton of carbon dioxide (CO2) reduced in 2030, or 8 cents for each kilowatt hour (kWh) of renewable energy deployed in 2015 dollars. Their central estimate is 34 percent larger than total policy costs. The team also determined that carbon pricing delivers a health co-benefit of $211 per ton of CO2 reduced in 2030, 63% greater than the health co-benefit of reducing the same amount of CO2 through an RPS approach.

Fulfilling the ultimate goal of the Paris Agreement on climate change—keeping global warming well below two degrees Celsius, if not 1.5°C—will be impossible without dramatic action from the world’s largest emitter of greenhouse gases, China. Toward that end, China began developing in 2017 an emissions trading scheme (ETS), a national carbon dioxide market designed to enable the country to meet its initial Paris pledge with the greatest efficiency and at the lowest possible cost.

Summary: Fulfilling the ultimate goal of the Paris Agreement on climate change—keeping global warming well below two degrees Celsius, if not 1.5°C—will be impossible without dramatic action from the world’s largest emitter of greenhouse gases, China. Toward that end, China began developing in 2017 an emissions trading scheme (ETS), a national carbon dioxide market designed to enable the country to meet its initial Paris pledge with the greatest efficiency and at the lowest possible cost. China’s pledge, or Nationally Determined Contribution (NDC), is to reduce its CO2 intensity of GDP (emissions produced per unit of economic activity) by 60–65% in 2030 relative to 2005, and to peak CO2 emissions around 2030.

When it’s rolled out, China’s carbon market will initially cover the electric power sector (which currently produces more than three billion tons of CO2) and likely set CO2 emissions intensity targets (e.g. grams of CO2 per kilowatt hour) to ensure that its short-term NDC is fulfilled. But to help the world achieve the long-term 2°C and 1.5°C Paris goals, China will need to continually decrease these targets over the course of the century.

A new Joint Program-led study of China’s long-term power generation mix under the nation’s ETS projects that until 2065, renewable energy sources will likely expand to meet these targets; after that, carbon capture and storage (CCS) could be deployed to meet the more stringent targets that follow. 

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