@article{Jotzo:249538,
      recid = {249538},
      author = {Jotzo, Frank and Pickering, Jonathan and Wood, Peter J.},
      title = {Fulfilling Australia’s International Climate Finance  Commitments: Which Sources of Financing are Promising and  How Much Could They Raise?},
      address = {2011-10},
      number = {450-2016-34020},
      pages = {84},
      year = {2011},
      abstract = {Developed countries have pledged to mobilise $100 billion  per year by 2020 for climate
change action in developing  countries. Progress on financing is necessary to  ensure
broader progress on climate change cooperation.  Supporting the global commitment is in
Australia’s  interests, since climate finance can harness low-cost  mitigation opportunities
and help vulnerable countries in  the Asia-Pacific region adapt to climate change. Based
on  Australia’s wealth and emissions, we find that a fair share  for Australia may be
around 2.4 per cent, or $2.4 billion a  year by 2020. We analyse possible sources of
finance in  Australia. Carbon markets could provide large financial  flows but their shortterm
prospects are uncertain, and  additional public finance is needed in any event.  While
Australia currently draws its climate finance from a  growing aid budget, a large scale-up
of climate change aid  could raise concerns that aid is being diverted from  existing
development priorities. A carbon levy on  international transport could provide
considerable revenue  and could be implemented unilaterally ahead of a global  scheme.
Reducing tax breaks for fossil fuel using and  producing activities could raise revenue well
in excess of  Australia’s total climate finance commitment, while  improving economic
efficiency and cutting carbon emissions.  Further, Australia’s exports of coal and other
resources  provide a very large tax base which could be tapped to a  greater extent.},
      url = {http://ageconsearch.umn.edu/record/249538},
      doi = {https://doi.org/10.22004/ag.econ.249538},
}