ECON1020 - Carbon Dioxide Levels in the Atmosphere - Economics Assignment Help

Assignment Task

PART A

Carbon dioxide levels in the atmosphere today are higher than at any point in at least the past 800,000 years. The risks associated with the resultant climatic change have been well documented.
We can model the problem of climate change as a game between two groups: developing nations and developed nations. In this game, each group can choose from one of two possible climate strategies:
• Abate: governments enact policies to reduce carbon emissions, for example, by subsidising clean energies or taxing fossil fuels.
• No change: governments fail to enact policies to reduce carbon emissions. Businesses and individuals are free to pursue their own self-interest.

Question 

The ideal outcome for the climate strategy game is one in which a dominant strategy equilibrium is achieved when both groups of countries choose to abate emissions. Explain how a change in the rules of the game could lead to a potential solution to the social dilemma of climate change. [3 marks] [max words: 200]

PART B

Emissions reduction treaties between nations have been proposed as a key method with which to tackle climate change and its negative impacts. One such treaty is the Paris Agreement. Adopted by 197 nations in 2015, the deal aims to substantially reduce carbon emissions and to limit the global temperature increase in this century to 2 degrees Celsius. A summary of the Paris Agreement can be found here.

The Paris Agreement includes commitments from all nations to reduce their emissions and work together to adapt to the impacts of climate change and calls on a strengthening of commitments over time. The agreement provides a pathway for developed nations to assist developing nations in their climate mitigation and adaptation efforts. Nations can set their own ‘nationally determined contributions’ towards emissions reductions that reflect their capabilities, level of economic development, and contribution to emissions over time.

Question 

Binding treaties to abate emissions between groups of nations are often difficult to achieve. Explain why this is the case. You must cite at least one reputable source from your own research. Include the full reference at the end of your answer, which will not count towards the word limit. Use a standard referencing system (e.g. Harvard style). [3 marks] [max words: 200]

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