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"Without significant reductions of greenhouse gas emissions, climate change will cause substantial damage to the environment and the economy. The scope of the threat demands a close look at the policies capable of reducing the harm. Confronting the Climate Challenge presents a unique framework for evaluating the impacts of a range of U.S. climate-policy options, both for the economy overall and for particular household groups, industries, and regions. Lawrence Goulder and Marc Hafstead focus on four alternative approaches for reducing carbon dioxide emissions: a revenue-neutral carbon tax, a cap-and-trade program, a clean energy standard, and an increase in the federal gasoline tax. They demonstrate that these policies-if designed correctly-not only can achieve emissions reductions at low cost but also can avoid placing undesirable burdens on low-income household groups or especially vulnerable industries.Goulder and Hafstead apply a multiperiod, economy-wide general equilibrium model that is distinct in its attention to investment dynamics and to interactions between climate policy and the tax system. Exploiting the unique features of the model, they contrast the shorter- and longer-term policy impacts and focus on alternative ways of feeding back-or "recycling"-policy-generated revenues to the private sector. Their work shows how careful policy design, including the judicious use of policy-generated revenues, can achieve desired reductions in carbon dioxide emissions at low cost, avoid uneven impacts across household income groups, and prevent losses of profit in the most vulnerable U.S. industries. The urgency of the climate problem demands comprehensive action, and Confronting the Climate Challenge offers important insights that can help elevate policy discussions and spur needed efforts on the climate front." -- Publisher's description.

Climatic changes --- Emissions trading --- Greenhouse gas mitigation --- Abatement of greenhouse gas emissions --- Emission reduction, Greenhouse gas --- Emissions reduction, Greenhouse gas --- GHG mitigation --- Greenhouse gas abatement --- Greenhouse gas emission reduction --- Greenhouse gas emissions reduction --- Greenhouse gas reduction --- Mitigation of greenhouse gas emissions --- Reduction of greenhouse gas emissions --- Pollution prevention --- Air --- Emissions credit trading --- Emissions rights trading --- Marketable permits for carbon dioxide emissions --- Tradeable emission permits --- Trading emissions credits --- Environmental policy --- Carbon offsetting --- Carbon taxes --- Government policy --- Pollution

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The Integrated Assessment Model (IAM) has extensively treated the adverse effects of climate change and the appropriate mitigation policy. We extend such a model to include optimal policies for mitigation, adaptation and infrastructure investment studying the dynamics of the transition to a low fossil-fuel economy. We focus on the adverse effects of increase in atmospheric CO2 concentration on households. Formally, the model gives rise to an optimal control problem of finite horizon consisting of a dynamic system with five-dimensional state vector consisting of stocks of private capital, green capital, public capital, stock of brown energy in the ground, and emissions. Given the numerous challenges to climate change policies the control vector is also five-dimensional. Our solutions are characterized by turnpike property and the optimal policy that accomplishes the objective of keeping the CO2 levels within bound is characterized by a significant proportion of investment in public capital going to mitigation in the initial periods. When initial levels of CO2 are high, adaptation efforts also start immediately, but during the initial period, they account for a smaller proportion of government's public investment.

Climatic changes --- Greenhouse gas mitigation. --- Abatement of greenhouse gas emissions --- Emission reduction, Greenhouse gas --- Emissions reduction, Greenhouse gas --- GHG mitigation --- Greenhouse gas abatement --- Greenhouse gas emission reduction --- Greenhouse gas emissions reduction --- Greenhouse gas reduction --- Mitigation of greenhouse gas emissions --- Reduction of greenhouse gas emissions --- Pollution prevention --- Economic aspects. --- Infrastructure --- Investments: Stocks --- Macroeconomics --- Environmental Economics --- Environmental Conservation and Protection --- Optimization Techniques --- Programming Models --- Dynamic Analysis --- Climate --- Natural Disasters and Their Management --- Global Warming --- Environmental Economics: Government Policy --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Investment --- Capital --- Intangible Capital --- Capacity --- Macroeconomics: Consumption --- Saving --- Wealth --- Climate change --- Investment & securities --- Stocks --- Greenhouse gas emissions --- Consumption --- Greenhouse gases --- Saving and investment --- Economics

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The focus of this edited volume is to identify challenges facing organizations in achieving zero greenhouse gas emissions by 2050 and a new energy economy, and to explore solutions from various sectors of the economy to enable the transition to a zero emissions future. Research presented here is divided into three parts, with an introductory statement on growth and sustainability. Part one discusses strategies towards a sustainable economy under a zero emissions goal. Part two contains industry specific case studies focusing on construction and related activities. Part three is devoted to country specific case studies from the Asia-Pacific region. Each of the chapters address one or more of the following issues: restoration, mitigation, adaptation and/or promoting resilience in the face of climate change as part of achieving a sustainable economy. The volume is multi-disciplinary in nature, drawing on various disciplines in social science, business, environment and policy, and will be of interest to UN development agencies, academic institutions, government policy makers, NGOs and business leaders.

Environment. --- Energy policy. --- Energy and state. --- Climate change. --- Sustainable development. --- Air pollution. --- Asia --- Environmental economics. --- Sustainable Development. --- Climate Change Management and Policy. --- Energy Policy, Economics and Management. --- Environmental Economics. --- Atmospheric Protection/Air Quality Control/Air Pollution. --- Asian Economics. --- Economic conditions. --- Development, Sustainable --- Ecologically sustainable development --- Economic development, Sustainable --- Economic sustainability --- ESD (Ecologically sustainable development) --- Smart growth --- Sustainable development --- Sustainable economic development --- Changes, Climatic --- Climate change --- Climate changes --- Climate variations --- Climatic change --- Climatic changes --- Climatic fluctuations --- Climatic variations --- Global climate changes --- Global climatic changes --- Energy and state --- Power resources --- State and energy --- Economics --- Environmental quality --- Air --- Air contaminants --- Air pollutants --- Air pollution --- Air pollution control --- Air toxics --- Airborne pollutants --- Atmosphere --- Contaminants, Air --- Control of air pollution --- Pollutants, Air --- Toxics, Air --- Environmental aspects --- Government policy --- Economic aspects --- Pollution --- Control --- Greenhouse gas mitigation. --- Economic development --- Abatement of greenhouse gas emissions --- Emission reduction, Greenhouse gas --- Emissions reduction, Greenhouse gas --- GHG mitigation --- Greenhouse gas abatement --- Greenhouse gas emission reduction --- Greenhouse gas emissions reduction --- Greenhouse gas reduction --- Mitigation of greenhouse gas emissions --- Reduction of greenhouse gas emissions --- Pollution prevention --- Environmental protection. --- Asia-Economic conditions. --- Environmental quality management --- Protection of environment --- Environmental sciences --- Applied ecology --- Environmental engineering --- Environmental policy --- Asia—Economic conditions. --- Air quality --- Atmospheric deposition --- Industrial policy --- Energy conservation --- Changes in climate --- Climate change science --- Climatology --- Climate change mitigation --- Teleconnections (Climatology) --- Global environmental change --- Sustainability. --- Climatology. --- Pollution. --- Climate Sciences. --- Climate --- Climate science --- Climate sciences --- Science of climate --- Atmospheric science --- Sustainability science --- Human ecology --- Social ecology --- Chemical pollution --- Chemicals --- Contamination of environment --- Environmental pollution --- Contamination (Technology) --- Asbestos abatement --- Bioremediation --- Factory and trade waste --- Hazardous waste site remediation --- Hazardous wastes --- In situ remediation --- Lead abatement --- Pollutants --- Refuse and refuse disposal