Global Warming

The Issue

As the scientific consensus on the need to limit greenhouse gas emissions to avert the worst effects of global warming solidifies, policymakers face a number of serious issues in forging both domestic and international climate policy. US policy proposals so far have focused on establishing a price for carbon, either in the form of a carbon tax or a cap-and-trade program. These proposals raise concerns that aggressive climate policy in the United States will merely lead to the outsourcing of carbon-intensive industry to countries with fewer restrictions, which highlights the need for a multilateral approach to global warming. At the same time, international trade and economic development are central topics in negotiations on a post-Kyoto climate regime, and the outcome of these negotiations could bring sweeping changes to the international financial system. Policymakers must consider these and other issues in order to develop effective measures to reduce global greenhouse gas emissions and halt global warming.

Essential Reading from the Institute

Book: Global Warming and the World Trading System
by Gary Clyde Hufbauer , Steve Charnovitz and Jisun Kim
March 2009

Policy Brief 09-17: The Economics of Energy Efficiency in Buildings [pdf]
by Trevor Houser, Peterson Institute for International Economics
August 2009

Testimony: Green and Mean: Can the New US Economy be both Climate-Friendly and Competitive?
by Trevor Houser, Peterson Institute for International Economics
Testimony before the Commission on Security and Cooperation in Europe, US Congress
March 10, 2009

Policy Brief 09-3: A Green Recovery? Assessing US Economic Stimulus and the Prospects for International Coordination [pdf]
by Trevor Houser, Peterson Institute for International Economics
and Shashank Mohan, Rhodium Group
and Robert Heilmayr, World Resources Institute
February 10, 2009

Book: Global Warming and Agriculture: Impact Estimates by Country
by William R. Cline
July 2007

Testimony: Policy Options to Prevent Climate Change [pdf]
by Gary Clyde Hufbauer, Peterson Institute for International Economics
Testimony before the US House of Representatives Committee on Ways and Means
September 18, 2008

Op-ed: Ending the Crisis without Starting Another: A "Green" Global Recovery?
by Trevor Houser, Peterson Institute for International Economics
Op-ed at VoxEU.org
January 28, 2009

Paper: US and Canadian Climate Legislation by State and Province
by Meera Fickling, Peterson Institute for International Economics
February 12, 2009
Revised July 24, 2009

Testimony: Climate Change: Competitiveness Concerns and Prospects
by Gary Clyde Hufbauer, Peterson Institute for International Economics
Testimony before the Subcommittee on Energy and Air Quality
US House of Representatives, Committee on Energy and Commerce
March 5, 2008

Book: Leveling the Carbon Playing Field: International Competition and US Climate Policy Design
by Trevor Houser , Rob Bradley , Britt Childs , Jacob Werksman and Robert Heilmayr
May 2008

Speech: Comments on the Stern Review
by William R. Cline, Peterson Institute for International Economics
Remarks at the Roundtable Discussion on the Stern Review
of the Economics of Climate Change and Its Critics
American Economic Association, Annual Meeting, New Orleans
January 5, 2008

Op-ed: Global Warming Could Boost Hunger on Earth
by William R. Cline, Peterson Institute for International Economics
Op-ed in the Omaha World-Herald
April 13, 2008

Policy Brief 09-18: Setting the NAFTA Agenda on Climate Change [pdf]
by Jeffrey J. Schott, Peterson Institute for International Economics
and Meera Fickling, Peterson Institute for International Economics
August 2009