The Environment and the Economy
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I need assistance with the following line of questioning:
What do you think are the prospects for reducing global climate-changing emissions? Be sure to address these points:
- To what extent can this be done without harming global economic welfare?
- What are the implications for demand-side economics of reducing climate-changing emissions?
- Why are some countries reluctant to adopt carbon emissions targets?
I would appreciate a short list of references if providable.
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Solution Summary
The solution concerns on how to reduce global climate-changing emissions without affecting economy.
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Policy makers suggest ways on how to implement reduction of carbon emission without hurting the global economy.
Roach (n.d.) suggested the following ways to reduce global carbon emissions without hurting the global economy.
1. A carbon tax, which would fall most heavily on fuels causing the highest carbon emission. The revenues from such a tax could be recycled to lower taxes elsewhere in the economy, or they could be used to assist people in lower income brackets, who will suffer most from higher costs of energy and goods.
2. Tradable carbon emissions permits, which could be bought and sold by firms or nations, depending on their level of carbon emissions. Another is "tradable carbon emissions permits, which could be bought and sold by firms or nations, depending on their level of carbon emissions".
3. Other possible policy measures include shifting subsidies away from fossil fuels and towards renewable energy, strengthening energy efficiency standards, and increasing research and development on alternative energy technologies.
On the other hand, ASME (2009) suggested initiatives that will lower global emission without reducing productivity. These initiatives are:
1. Energy consumption in steelmaking is largely associated with process heating requirements. The solution is to install high-efficiency heating systems providing the potential for reduction of energy consumption.
2. Cement production consumes about 4 GJ per tonne of cement produced. A significant fraction ...
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