CO2 emissions

Carbon offsets can, in theory, reduce emissions efficiently, but in practice problems like non-additional projects, self-selection, and weak regulation mean they may fail to cut – and can even increase – global emissions unless embedded within properly capped compliance markets.

Fragmented carbon markets, especially voluntary offsets, lack the credibility and scale needed to drive global decarbonisation. A proposal for an opt-in, unified global compliance carbon market could reduce emissions cost-effectively while channelling finance to lower-income countries.

Carbon offset programmes aim to lower emissions by allowing high-income countries to meet part of their reduction targets by financing projects in low- and middle-income countries. Evidence from China—one of the world’s largest suppliers of these pro...

While wealthier countries have historically contributed the most to climate change, the Global South is now under pressure to take costly action. How will balancing between emissions reductions and economic growth affect long-term outcomes in developing countries?

Carbon offset programmes allow polluters to pay others to reduce emissions on their behalf. In theory, this can achieve the same emissions reductions at a lower cost, but only if the payment actually incentivises the recipient to cut emissions. If of...

Why is estimating the social cost of carbon such an important task for researchers?

Well-intentioned regulation may be causing multinationals to shunt polluting activities to poorer countries where regulation isn’t so strict