A multi-gas abatement analysis of the Kyoto Protocol
An updated analysis of the costs of the Kyoto Protocol, now based on a multi-gas approach, accounting for all six Kyoto gases, shows that, in addition to reductions of CO2, a large share of the emission reductions under the Kyoto Protocol will come from non-CO2 abatement options, in particular from CH4 reductions in the gas sector.
Assuming banking of emission allowances by the Ukraine and the Russian Federation, an international permit price in the range of 15 and 40 euro/tCeq is expected. For a central estimate, this leads to a reduction of 400 MtCeq (including sinks). With a central estimated of 33 euro/tCeq this would result in total costs of implementing the Kyoto Protocol in the order of about 10 billion Euro/year over the period 2008-2012 for all industrialized countries (Annex I, excl. Russia and Ukraine, United States and Australia) .
|Author(s)||Lucas PL ; Elzen MGJ den ; Vuuren DP van|