Geoscience Reference
In-Depth Information
Figure 4: Price per tonne of carbon dioxide for different emission restraints
Standard technology refers to the technologies currently in existence
Backstop technology refers to methods that control carbon pricing
Enhanced technology refers to the technologies that do not yet exist
Source: R. Garnaut,
The Garnaut Climate Change Review: Final Report
(Cambridge: Cambridge University Press,
2008), 251.
The modelling Garnaut commissioned resulted in the prices of CO
2
for the different
scenarios shown in Figure 4.
The prices are assumed to level off once they reach $250 per tonne (in 2014 prices
about US $285) because it is assumed that technology that is not presently conceptualised
will cut in at that price.
Near future carbon prices are estimated to be rather greater than these by the OECD.
19
In US 2007 dollars, the carbon prices necessary for countries or blocs to meet the global
goalsin2020exceed$110pertonneifeachcountryfocusedonlyonitsdomesticemissions
including those from agriculture. If final demand were to be incorporated ('including final
demand' in Table 3) the tax would still be $80 per tonne.
