Dear colleagues, Join us for an E-axes Forum webinar on the potential gains from phasing out fossil fuels and replacing them with energy from renewable sources Alissa M. Kleinnijenhuis will present findings from her recent paper (with Tobias Adrian and Patrick Bolton), “The Great Carbon Arbitrage.” Link: https://e-axes.org/webinar/the-great-carbon-arbitrage/
From the abstract:
We measure gains from phasing out coal as the social cost of carbon times the quantity of avoided emissions. By comparing the present value of benefits from avoided emissions against the present value of costs of ending coal and replacing it with renewables, our conservative baseline estimate is that the world can realize a net gain of $85 trillion. A way to reap this huge gain is to strike a Coasian bargain, as a complement to incomplete carbon pricing, to provide blended financing to replace coal with renewables. We quantify requisite climate financing for supplanting coal with renewables across the world. Alissa M. Kleinnijenhuis has been a Research Scholar at the Stanford Institute of Economic Policy Research (SIEPR) at Stanford University and a Research Associate at the Institute for New Economic Thinking (INET) at the University of Oxford. Best Adrian von Jagow PhD student Institute for Ecological Economics WU Vienna University of Economics and Business Welthandelsplatz 1, 1020 Wien E-Mail: adrian.jagow@wu.ac.at