Publication:
Paris Climate Agreement and the Global Economy: Winners and Losers

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dc.contributor.authorWadhwa, Deepika
dc.contributor.authorMani, Muthukumara
dc.contributor.authorHussein, Zekarias
dc.contributor.authorNarayanan Gopalakrishnan, Badri
dc.date.accessioned2018-04-03T14:21:06Z
dc.date.available2018-04-03T14:21:06Z
dc.date.issued2018-04
dc.description.abstractThe 2015 Paris Climate Agreement was the first instance of countries adhering to take a collective action against global warming. More than 190 countries came forward and submitted their contributions in the form of Intended Nationally Determined Contributions, reflective of their ability and capacity to reduce greenhouse gas emissions, as each country set its own targets and actions. For some countries, it meant a significant decline in their emissions by 2030, while others, like China, the United States, and India, decided on a more gradual phasing out extending beyond 2030. This paper estimates the economic impacts of implementation of the Paris Climate Agreement in terms of its implications for welfare, gross domestic product, investments, and trade for major countries and regions. It uses a computable general equilibrium framework to model global, regional, and country impacts. The analysis suggests that the economic impacts will be mostly felt in the European Union if the Paris Agreement is fully implemented. The European Union is likely to suffer a welfare loss of 1.0 to 1.5 percent by 2030. Among non-European countries, Australia, New Zealand, and Mexico will also be affected, with an expected welfare loss of about 1.5 percent. Some of the major emitters, such as China and India, will experience minimal impacts to their welfare, and the United States will experience a welfare loss of only about 0.7 by 2030. The sectoral analysis of production and trade suggests a significant loss to fossil fuel–based sectors, while clean energy sectors can experience significant gains.en
dc.identifierhttp://documents.worldbank.org/curated/en/705871522683196873/Paris-climate-agreement-and-the-global-economy-winners-and-losers
dc.identifier.doi10.1596/1813-9450-8392
dc.identifier.urihttps://hdl.handle.net/10986/29604
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 8392
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectCLIMATE CHANGE
dc.subjectGREENHOUSE GAS EMISSIONS
dc.subjectCLIMATE CHANGE MITIGATION
dc.subjectINTERNATIONAL NEGOTIATIONS
dc.subjectCARBON POLICY
dc.subjectCARBON TAX
dc.subjectPARIS AGREEMENT
dc.subjectCGE MODEL
dc.subjectCOMPUTABLE GENERAL EQUILIBRIUM
dc.subjectINDC
dc.subjectINTENDED NATIONALLY DETERMINED CONTRIBUTIONS
dc.titleParis Climate Agreement and the Global Economyen
dc.title.subtitleWinners and Losersen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleParis Climate Agreement and the Global Economy: Winners and Losers
okr.date.disclosure2018-04-02
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/705871522683196873/Paris-climate-agreement-and-the-global-economy-winners-and-losers
okr.guid705871522683196873
okr.identifier.doi10.1596/1813-9450-8392
okr.identifier.externaldocumentum090224b08585356e_1_0
okr.identifier.internaldocumentum29772482
okr.identifier.reportWPS8392
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/705871522683196873/pdf/WPS8392.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.administrativeEurope and Central Asia
okr.region.administrativeLatin America & Caribbean
okr.region.administrativeSouth Asia
okr.statistics.combined9361
okr.statistics.dr705871522683196873
okr.statistics.drstats4430
okr.topicEnergy::Energy Policies & Economics
okr.topicEnvironment::Carbon Policy and Trading
okr.topicEnvironment::Climate Change Mitigation and Green House Gases
okr.topicEnvironment::Climate Change and Environment
okr.topicEnvironment::Environmental Economics & Policies
okr.topicScience and Technology Development::Science of Climate Change
okr.unitOffice of the Chief Economist, South Asia Region
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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