The Political Economy of Pricing Carbon for a 2°C World
Joseph E. Aldy, associate professor of public policy at the Harvard Kennedy School, university fellow at Resources for the Future, faculty research fellow at the National Bureau of Economic Research, and senior advisor at the Center for Strategic and International Studies, will present The Political Economy of Pricing Carbon for a 2°C World on the Duke University campus, Friday, October 12.
The 2015 Paris Agreement called for "holding the increase in the global average temperature to well below 2°C above pre-industrial levels", but also acknowledged that "intended nationally determined contributions do not fall within least-cost 2°C scenarios." Although carbon pricing policies have recently emerged as a common tool for implementing countries' mitigation pledges, there is little evidence that they are closing this so-called emission gap. Aldy will examine the challenges of pricing carbon to deliver on a 2°C warming goal.