| Title |
On the Governance of Carbon Dioxide Removal - A Public Economics Perspective |
| ID_Doc |
32301 |
| Authors |
Edenhofer, O; Franks, M; Kalkuhl, M; Runge-Metzger, A |
| Title |
On the Governance of Carbon Dioxide Removal - A Public Economics Perspective |
| Year |
2024 |
| Published |
Finanzarchiv-European Journal Of Public Finance, 80, 1 |
| DOI |
10.1628/fa-2023-0012 |
| Abstract |
Climate policy increasingly requires carbon dioxide removal (CDR). We describe its role, characterize optimal flows for non -permanent removals and describe optimal pricing regimes under different information and liability conditions. Non -permanent removal - though to a certain extent optimal - creates liabilities that warrant careful risk management. Thus, seemingly cheap land -based technologies can become expensive. We discuss possibilities for integrating CDR in the EU policy architecture and define four tasks: managing the emission cap; R&D support; quality certification of removals; management of liabilities from non -permanent CDR. We propose three institutions for these tasks: a European Carbon Central Bank, a Carbon Removal Certification Authority and a Green Leap Innovation Authority. |
| Author Keywords |
carbon dioxide removal; EU-ETS; social cost of carbon; climate policy; imper manence |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:001221821200004 |
| WoS Category |
Business, Finance; Economics |
| Research Area |
Business & Economics |
| PDF |
https://www.econstor.eu/bitstream/10419/272014/1/cesifo1_wp10370.pdf
|