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Impacts and implications of implementing voluntary greenhouse gas emission reduction targets in major countries and Korea

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  • Lim, Jaekyu

Abstract

This study analyses the pledges submitted by Korea and other major parties to the UNFCCC secretariat as part of the Copenhagen Accord, using the global CGE model. The analysis shows that the greenhouse gas (GHG) emissions of the developed countries decrease by up to 14.0% by 2020 compared to the 1990 level. These results show the need to raise the targets amongst developed countries in order to reach to the reduction levels (25-40%) recommended by the IPCC to meet 450Â ppm CO2 eq. On the other hand, the full implementation of those pledges of Annex I and non-Annex I countries was found to contribute to the decrease of the global GHG emissions by about 15.9% compared to Business as Usual (BaU). Such results imply the need for developed countries to step up their reduction targets, as well as for developing ones to participate comprehensively and to reduce GHG emissions at a considerable level in order to enhance the environmental effectiveness of the Post-Kyoto framework hereafter. Meanwhile, it is analyzed that the implementation of voluntary target among major countries would reduce the global real GDP by 1.2%, and in the case of Korea, the real GDP was projected to diminish by 1.5%.

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  • Lim, Jaekyu, 2011. "Impacts and implications of implementing voluntary greenhouse gas emission reduction targets in major countries and Korea," Energy Policy, Elsevier, vol. 39(9), pages 5086-5095, September.
  • Handle: RePEc:eee:enepol:v:39:y:2011:i:9:p:5086-5095
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    References listed on IDEAS

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    1. Peterson, Everett B. & Schleich, Joachim & Duscha, Vicki, 2011. "Environmental and economic effects of the Copenhagen pledges and more ambitious emission reduction targets," Energy Policy, Elsevier, vol. 39(6), pages 3697-3708, June.
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    4. Joeri Rogelj & Julia Nabel & Claudine Chen & William Hare & Kathleen Markmann & Malte Meinshausen & Michiel Schaeffer & Kirsten Macey & Niklas Höhne, 2010. "Copenhagen Accord pledges are paltry," Nature, Nature, vol. 464(7292), pages 1126-1128, April.
    5. Harald Winkler & Niklas Höhne & Michel Den Elzen, 2008. "Methods for quantifying the benefits of sustainable development policies and measures (SD-PAMs)," Climate Policy, Taylor & Francis Journals, vol. 8(2), pages 119-134, March.
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    Cited by:

    1. Choi, Yongrok & Liu, Yu & Lee, Hyoungseok, 2017. "The economy impacts of Korean ETS with an emphasis on sectoral coverage based on a CGE approach," Energy Policy, Elsevier, vol. 109(C), pages 835-844.
    2. Stefan Niederhafner, 2014. "The Korean Energy and GHG Target Management System: An Alternative to Kyoto-Protocol Emissions Trading Systems?," TEMEP Discussion Papers 2014118, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Sep 2014.

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