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The simple arithmetic of carbon pricing and stranded assets

Abstract:

A simple rule for the optimal global price of carbon is presented, which captures the geophysical, economic, and ethical drivers of climate policy as well as the effect of uncertainty about future growth of consumption. There is also a discussion of the optimal carbon budget and the amount of unburnable carbon and stranded fossil fuel reserves and a back-on-the-envelope expression are given for calculating these. It is also shown how one can derive the end of the carbon era and peak warming. ...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Publisher's version

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Publisher copy:
10.1007/s12053-017-9592-6

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Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Economics
Oxford college:
New College
Publisher:
Springer Publisher's website
Journal:
Energy Efficiency Journal website
Volume:
11
Issue:
3
Pages:
627-639
Publication date:
2017-12-20
Acceptance date:
2017-10-05
DOI:
EISSN:
1570-6478
ISSN:
1570-646X
Pubs id:
pubs:813864
URN:
uri:bf5e2058-e5cb-4ec4-9fcc-4a991f2caf6f
UUID:
uuid:bf5e2058-e5cb-4ec4-9fcc-4a991f2caf6f
Local pid:
pubs:813864

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