Climate action with revenue recycling has benefits for poverty, inequality and well-being
Mark Budolfson
(1)
,
Francis Dennig
(2)
,
Frank Errickson
(3, 4)
,
Simon Feindt
(5, 6)
,
Maddalena Ferranna
(7)
,
Marc Fleurbaey
(8, 9)
,
David Klenert
(10)
,
Ulrike Kornek
(5, 11)
,
Kevin Kuruc
(12)
,
Aurélie Méjean
(13)
,
Wei Peng
(14)
,
Noah Scovronick
(15)
,
Dean Spears
(16)
,
Fabian Wagner
(17)
,
Stéphane Zuber
(8, 18)
1
Rutgers School of Public Health
2 Yale-NUS College
3 UC Berkeley - University of California [Berkeley]
4 Princeton University
5 MCC - Mercator Research Institute on Global Commons and Climate Change
6 TU - Technical University of Berlin / Technische Universität Berlin
7 Harvard School of Public Health - Department of Global Health and Population [Boston, MA, USA]
8 PSE - Paris School of Economics
9 PJSE - Paris Jourdan Sciences Economiques
10 JRC - European Commission - Joint Research Centre [Seville]
11 PIK - Potsdam Institute for Climate Impact Research
12 OU - University of Oklahoma
13 CIRED - Centre International de Recherche sur l'Environnement et le Développement
14 Penn State - Pennsylvania State University
15 Emory University [Atlanta, GA]
16 University of Texas at Austin [Austin]
17 IIASA - International Institute for Applied Systems Analysis [Laxenburg]
18 CES - Centre d'économie de la Sorbonne
2 Yale-NUS College
3 UC Berkeley - University of California [Berkeley]
4 Princeton University
5 MCC - Mercator Research Institute on Global Commons and Climate Change
6 TU - Technical University of Berlin / Technische Universität Berlin
7 Harvard School of Public Health - Department of Global Health and Population [Boston, MA, USA]
8 PSE - Paris School of Economics
9 PJSE - Paris Jourdan Sciences Economiques
10 JRC - European Commission - Joint Research Centre [Seville]
11 PIK - Potsdam Institute for Climate Impact Research
12 OU - University of Oklahoma
13 CIRED - Centre International de Recherche sur l'Environnement et le Développement
14 Penn State - Pennsylvania State University
15 Emory University [Atlanta, GA]
16 University of Texas at Austin [Austin]
17 IIASA - International Institute for Applied Systems Analysis [Laxenburg]
18 CES - Centre d'économie de la Sorbonne
Mark Budolfson
- Fonction : Auteur
- PersonId : 798969
- ORCID : 0000-0003-0414-0433
Frank Errickson
- Fonction : Auteur
- PersonId : 817304
- ORCID : 0000-0003-2195-9424
Simon Feindt
- Fonction : Auteur
- PersonId : 817305
- ORCID : 0000-0001-7419-1346
Marc Fleurbaey
- Fonction : Auteur
- PersonId : 741339
- IdHAL : marc-fleurbaey
- ORCID : 0000-0002-5342-8065
- IdRef : 029286719
David Klenert
- Fonction : Auteur
- PersonId : 814274
- ORCID : 0000-0003-3186-0938
Aurélie Méjean
- Fonction : Auteur
- PersonId : 16363
- IdHAL : aurelie-mejean
- ORCID : 0000-0003-2859-3613
Wei Peng
- Fonction : Auteur
- PersonId : 761643
- ORCID : 0000-0002-1980-0759
Noah Scovronick
- Fonction : Auteur
- PersonId : 817306
- ORCID : 0000-0003-1410-3337
Dean Spears
- Fonction : Auteur
- PersonId : 798971
- ORCID : 0000-0001-7905-9192
Fabian Wagner
- Fonction : Auteur
- PersonId : 759521
- ORCID : 0000-0003-3429-2374
Stéphane Zuber
- Fonction : Auteur
- PersonId : 5100
- IdHAL : szuber
- ORCID : 0000-0002-4111-2397
- IdRef : 196910498
Résumé
Existing estimates of optimal climate policy ignore the possibility that carbon tax revenues could be used in a progressive way; model results therefore typically imply that near-term climate action comes at some cost to the poor. Using the Nested Inequalities Climate Economy (NICE) model, we show that an equal per capita refund of carbon tax revenues implies that achieving a 2 °C target can pay large and immediate dividends for improving well-being, reducing inequality and alleviating poverty. In an optimal policy calculation that weighs the benefits against the costs of mitigation, the recommended policy is characterized by aggressive near-term climate action followed by a slower climb towards full decarbonization; this pattern—which is driven by a carbon revenue Laffer curve—prevents runaway warming while also preserving tax revenues for redistribution. Accounting for these dynamics corrects a long-standing bias against strong immediate climate action in the optimal policy literature
Domaines
Economies et finances Economies et finances Etudes de l'environnement Etudes de l'environnementFormat du dépôt | Fichier |
---|---|
Type de dépôt | Article dans une revue |
Résumé |
en
Existing estimates of optimal climate policy ignore the possibility that carbon tax revenues could be used in a progressive way; model results therefore typically imply that near-term climate action comes at some cost to the poor. Using the Nested Inequalities Climate Economy (NICE) model, we show that an equal per capita refund of carbon tax revenues implies that achieving a 2 °C target can pay large and immediate dividends for improving well-being, reducing inequality and alleviating poverty. In an optimal policy calculation that weighs the benefits against the costs of mitigation, the recommended policy is characterized by aggressive near-term climate action followed by a slower climb towards full decarbonization; this pattern—which is driven by a carbon revenue Laffer curve—prevents runaway warming while also preserving tax revenues for redistribution. Accounting for these dynamics corrects a long-standing bias against strong immediate climate action in the optimal policy literature
|
Titre |
en
Climate action with revenue recycling has benefits for poverty, inequality and well-being
|
Auteur(s) |
Mark Budolfson
1
, Francis Dennig
2
, Frank Errickson
3, 4
, Simon Feindt
5, 6
, Maddalena Ferranna
7
, Marc Fleurbaey
8, 9
, David Klenert
10
, Ulrike Kornek
5, 11
, Kevin Kuruc
12
, Aurélie Méjean
13
, Wei Peng
14
, Noah Scovronick
15
, Dean Spears
16
, Fabian Wagner
17
, Stéphane Zuber
8, 18
1
Rutgers School of Public Health
( 1048357 )
- Piscataway
- États-Unis
2
Yale-NUS College
( 529025 )
- Singapour
3
UC Berkeley -
University of California [Berkeley]
( 563719 )
- Berkeley, CA
- États-Unis
4
Princeton University
( 46584 )
- Princeton, NJ 08544 USA
- États-Unis
5
MCC -
Mercator Research Institute on Global Commons and Climate Change
( 445441 )
- EUREF Campus 19
Torgauer Straße 12-15
10829 Berlin
GERMANY
- Allemagne
6
TU -
Technical University of Berlin / Technische Universität Berlin
( 86624 )
- Straße des 17. Juni 135 10623 Berlin
- Allemagne
7
Harvard School of Public Health -
Department of Global Health and Population [Boston, MA, USA]
( 557576 )
- États-Unis
8
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
9
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
10
JRC -
European Commission - Joint Research Centre [Seville]
( 521735 )
- Calle Inca Garcilaso 3, E-41092 Seville
- Espagne
11
PIK -
Potsdam Institute for Climate Impact Research
( 551206 )
- Telegraphenberg A 31, 14473 Potsdam
- Allemagne
12
OU -
University of Oklahoma
( 48144 )
- 660 Parrington Oval,
Norman, OK 73019-0390
(405) 325-0311
- États-Unis
13
CIRED -
Centre International de Recherche sur l'Environnement et le Développement
( 1042364 )
- 45 bis, avenue de la Belle Gabrielle - 94736 Nogent-sur-Marne Cedex
- France
14
Penn State -
Pennsylvania State University
( 452398 )
- 201 Old Main, University Park, Pennsylvania 16802
- États-Unis
15
Emory University [Atlanta, GA]
( 301506 )
- 201 Dowman Dr, Atlanta, GA 30322
- États-Unis
16
University of Texas at Austin [Austin]
( 74980 )
- 1 University Station Austin, Texas 78712
- États-Unis
17
IIASA -
International Institute for Applied Systems Analysis [Laxenburg]
( 487706 )
- Schlossplatz 1, A-2361 Laxenburg, Austria
- Autriche
18
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
|
Date de publication |
2021
|
Date de publication électronique |
2021-11-29
|
Public visé |
Scientifique
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Volume |
11
|
Numéro |
12
|
Page/Identifiant |
1111-1116
|
Collaboration/Projet |
|
Mots-clés (JEL) |
|
Financement |
|
Domaine(s) |
|
DOI | 10.1038/s41558-021-01217-0 |
UT key WOS | 000723552200004 |
Origine :
Fichiers produits par l'(les) auteur(s)
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