Abstract:
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Despite global environmental governance has traditionally couched global warming in
terms of annual CO2 emissions (a flow), global mean temperature is actually determined
by cumulative CO2 emissions in the atmosphere (a stock). Thanks to advances of scientific
community, nowadays it is possible to quantify the \global carbon budget", that is, the
amount of available cumulative CO2 emissions before crossing the 2oC threshold (Meinshausen
et al., 2009). The current approach proposes to analyze the allocation of such
global carbon budget among countries as a classical conflicting claims problem (O'Neill,
1982). Based on some appealing principles, it is proposed an efficient and sustainable
allocation of the available carbon budget from 2000 to 2050 taking into account different
environmental risk scenarios.
Keywords: Carbon budget, Conflicting claims problem, Distribution, Climate change.
JEL classification: C79, D71, D74, H41, H87, Q50, Q54, Q58. |