News

The Carbon Club revisited: Harnessing enterprise and trade to decarbonise the global economy

Feb 4, 2022

In this new paper (PDF) by Bethan Adams, Kaya Axelsson and Adam Parr, a Carbon Club is proposed, consisting of states that are considering a Border Carbon Adjustment (BCA). This would include the EU, the UK, Canada, Japan, and the US, which would cover 44% of global international trade, and present a serious lever for accelerating decarbonisation across the global market in this decisive decade. The authors argue that BCAs are a powerful mechanism to accelerate the shift to a post carbon system and help create the global economic conditions for tackling the climate mitigation.

It notes that a Border Carbon Adjustment:
• Addresses a major source of emissions: those embedded in a nation’s imports.
• Provides a financial incentive to overseas producers to invest in low emission technology.
• Reduces carbon leakage and ensures fair competition for domestic producers reducing their own emissions.
• Incentivises citizens to choose lower carbon products.
• Uses implementation and enforcement mechanisms that are already universally practised.
• Requires no international negotiations, but is aligned with the direction of travel towards climate ambition in the EU and elsewhere.
• Is seen as a fair policy across the political spectrum in key countries proposing it.
• Raises funds that can be used to promote a just transition: at home, alleviating any impact from higher prices; internationally providing climate finance for adaptation and mitigation among affected nations.

Read the full paper (PDF): https://www.smithschool.ox.ac.uk/publications/wpapers/workingpaper22-01.pdf 

 

Latest news

Job Opening at ONZ: Youth Climate Training Assistant
Job Opening at ONZ: Youth Climate Training Assistant

The Oxford Net Zero Engagement Team (based at the Smith School of Enterprise and the Environment) is looking for a motivated individual to support the team 8 hours a week for 12 weeks (96 hours in total) in the second delivery of the Youth ... Read more

Onshore geological carbon storage has potential in the UK, but key knowledge and regulatory gaps remain – ONZ report
Onshore geological carbon storage has potential in the UK, but key knowledge and regulatory gaps remain – ONZ report

A new report by a team of Oxford Net Zero researchers reviews the current state of knowledge on onshore geological carbon storage (GCS) and its feasibility in the UK. Read more

Oxford launches revised Offsetting Principles
Oxford launches revised Offsetting Principles

As part of their net zero strategies, many companies, organisations, cities, regions and financial institutions are relying on voluntary carbon credits to offset their residual emissions. But evidence continues to cast doubt on the integrity of ... Read more

See more news and events