A carbon central bank (CCB) that translates carbon removals into allowances would transform the European Union Emissions Trading System (EU ETS) from a fiat allowance to a gold standard system, ensuring unchanged net emissions on the path to net-zero greenhouse gas (GHG) targets. Meeting such...

To reach the goals of the Paris agreement, net carbon emissions must be reduced to zero by the second half of this century. To achieve this, some kind of carbon dioxide removal (CDR) is needed. The paper gives an analysis of the interaction between extraction of fossil energy resources and CDR....

We study optimal climate policy in a global economy where regions differ in wealth and climate vulnerability. Carbon emissions from production lead to output losses, and there is a technology for emissions absorption. We provide an aggregation result: the model with heterogeneity can be cast...

A carbon central bank (CCB) that translates carbon removals into allowances would transform the European Union Emissions Trading System (EU ETS) from a fiat allowance to a gold standard system, ensuring unchanged net emissions on the path to net-zero greenhouse gas (GHG) targets. • Meeting...

AbstractClimate stabilization is crucial for restabilizing the Earth system but should not undermine biosphere integrity, a second pillar of Earth system functioning. This is of particular concern if it is to be achieved through biomass-based negative emission (NE) technologies that compete for...