@misc{ThonigDelRioKieferetal.2020, author = {Thonig, Richard and Del Rio, Pablo and Kiefer, Christoph and Lazaro Touza, Lara and Escribano, Gonzalo and Lechon, Yolanda and Spaeth, Leonhard and Wolf, Ingo and Lilliestam, Johan}, title = {Does ideology influence the ambition level of climate and renewable energy policy?}, series = {Zweitver{\"o}ffentlichungen der Universit{\"a}t Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe}, journal = {Zweitver{\"o}ffentlichungen der Universit{\"a}t Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe}, number = {1}, issn = {1867-5808}, doi = {10.25932/publishup-57798}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-577981}, pages = {19}, year = {2020}, abstract = {We investigate whether political ideology has an observable effect on decarbonization ambition, renewable power aims, and preferences for power system balancing technologies in four European countries. Based on the Energy Logics framework, we identify ideologically different transition strategies (state-centered, market-centered, grassroots-centered) contained in government policies and opposition party programs valid in 2019. We compare these policies and programs with citizen poll data. We find that ideology has a small effect: governments and political parties across the spectrum have similar, and relatively ambitious, decarbonization and renewables targets. This mirrors citizens' strong support for ambitious action regardless of their ideological self-description. However, whereas political positions on phasing out fossil fuel power are clear across the policy space, positions on phasing in new flexibility options to balance intermittent renewables are vague or non-existent. As parties and citizens agree on strong climate and renewable power aims, the policy ambition is likely to remain high, even if governments change.}, language = {en} } @article{ThonigDelRioKieferetal.2020, author = {Thonig, Richard and Del Rio, Pablo and Kiefer, Christoph and Lazaro Touza, Lara and Escribano, Gonzalo and Lechon, Yolanda and Spaeth, Leonhard and Wolf, Ingo and Lilliestam, Johan}, title = {Does ideology influence the ambition level of climate and renewable energy policy?}, series = {Energy sources, part B: economics, planning, and policy}, volume = {16}, journal = {Energy sources, part B: economics, planning, and policy}, number = {1}, publisher = {Taylor \& Francis Group}, address = {Philadelphia}, issn = {1556-7249}, doi = {10.1080/15567249.2020.1811806}, pages = {4 -- 22}, year = {2020}, abstract = {We investigate whether political ideology has an observable effect on decarbonization ambition, renewable power aims, and preferences for power system balancing technologies in four European countries. Based on the Energy Logics framework, we identify ideologically different transition strategies (state-centered, market-centered, grassroots-centered) contained in government policies and opposition party programs valid in 2019. We compare these policies and programs with citizen poll data. We find that ideology has a small effect: governments and political parties across the spectrum have similar, and relatively ambitious, decarbonization and renewables targets. This mirrors citizens' strong support for ambitious action regardless of their ideological self-description. However, whereas political positions on phasing out fossil fuel power are clear across the policy space, positions on phasing in new flexibility options to balance intermittent renewables are vague or non-existent. As parties and citizens agree on strong climate and renewable power aims, the policy ambition is likely to remain high, even if governments change.}, language = {en} } @article{SprinzdeMesquitaKallbekkenetal.2016, author = {Sprinz, Detlef F. and de Mesquita, Bruce Bueno and Kallbekken, Steffen and Stokman, Frans and Saelen, Hakon and Thomson, Robert}, title = {Predicting Paris: Multi-Method Approaches to Forecast the Outcomes of Global Climate Negotiations}, series = {Politics and Governance}, volume = {4}, journal = {Politics and Governance}, publisher = {Cogitatio Press}, address = {Lisbon}, issn = {2183-2463}, doi = {10.17645/pag.v4i3.654}, pages = {172 -- 187}, year = {2016}, abstract = {We examine the negotiations held under the auspices of the United Nations Framework Convention of Climate Change in Paris, December 2015. Prior to these negotiations, there was considerable uncertainty about whether an agreement would be reached, particularly given that the world's leaders failed to do so in the 2009 negotiations held in Copenhagen. Amid this uncertainty, we applied three different methods to predict the outcomes: an expert survey and two negotiation simulation models, namely the Exchange Model and the Predictioneer's Game. After the event, these predictions were assessed against the coded texts that were agreed in Paris. The evidence suggests that combining experts' predictions to reach a collective expert prediction makes for significantly more accurate predictions than individual experts' predictions. The differences in the performance between the two different negotiation simulation models were not statistically significant.}, language = {en} } @article{SchuetzeFuerstMielkeetal.2017, author = {Sch{\"u}tze, Franziska and F{\"u}rst, Steffen and Mielke, Jahel and Steudle, Gesine A. and Wolf, Sarah and J{\"a}ger, Carlo C.}, title = {The Role of Sustainable Investment in Climate Policy}, series = {Sustainability}, volume = {9}, journal = {Sustainability}, publisher = {MDPI}, address = {Basel}, issn = {2071-1050}, doi = {10.3390/su9122221}, pages = {19}, year = {2017}, abstract = {Reaching the Sustainable Development Goals requires a fundamental socio-economic transformation accompanied by substantial investment in low-carbon infrastructure. Such a sustainability transition represents a non-marginal change, driven by behavioral factors and systemic interactions. However, typical economic models used to assess a sustainability transition focus on marginal changes around a local optimum, whichby constructionlead to negative effects. Thus, these models do not allow evaluating a sustainability transition that might have substantial positive effects. This paper examines which mechanisms need to be included in a standard computable general equilibrium model to overcome these limitations and to give a more comprehensive view of the effects of climate change mitigation. Simulation results show that, given an ambitious greenhouse gas emission constraint and a price of carbon, positive economic effects are possible if (1) technical progress results (partly) endogenously from the model and (2) a policy intervention triggering an increase of investment is introduced. Additionally, if (3) the investment behavior of firms is influenced by their sales expectations, the effects are amplified. The results provide suggestions for policy-makers, because the outcome indicates that investment-oriented climate policies can lead to more desirable outcomes in economic, social and environmental terms.}, language = {en} } @misc{SchuetzeFuerstMielkeetal.2017, author = {Sch{\"u}tze, Franziska and F{\"u}rst, Steffen and Mielke, Jahel and Steudle, Gesine A. and Wolf, Sarah and J{\"a}ger, Carlo C.}, title = {The Role of Sustainable Investment in Climate Policy}, series = {Postprints der Universit{\"a}t Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe}, journal = {Postprints der Universit{\"a}t Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe}, number = {137}, issn = {1867-5808}, doi = {10.25932/publishup-47048}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-470485}, pages = {21}, year = {2017}, abstract = {Reaching the Sustainable Development Goals requires a fundamental socio-economic transformation accompanied by substantial investment in low-carbon infrastructure. Such a sustainability transition represents a non-marginal change, driven by behavioral factors and systemic interactions. However, typical economic models used to assess a sustainability transition focus on marginal changes around a local optimum, whichby constructionlead to negative effects. Thus, these models do not allow evaluating a sustainability transition that might have substantial positive effects. This paper examines which mechanisms need to be included in a standard computable general equilibrium model to overcome these limitations and to give a more comprehensive view of the effects of climate change mitigation. Simulation results show that, given an ambitious greenhouse gas emission constraint and a price of carbon, positive economic effects are possible if (1) technical progress results (partly) endogenously from the model and (2) a policy intervention triggering an increase of investment is introduced. Additionally, if (3) the investment behavior of firms is influenced by their sales expectations, the effects are amplified. The results provide suggestions for policy-makers, because the outcome indicates that investment-oriented climate policies can lead to more desirable outcomes in economic, social and environmental terms.}, language = {en} } @phdthesis{Schuetze2020, author = {Sch{\"u}tze, Franziska}, title = {Finance for a sustainable economy}, doi = {10.25932/publishup-48441}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-484415}, school = {Universit{\"a}t Potsdam}, pages = {xi, 128}, year = {2020}, abstract = {With his September 2015 speech "Breaking the tragedy of the horizon", the President of the Central Bank of England, Mark Carney, put climate change on the agenda of financial market regulators. Until then, climate change had been framed mainly as a problem of negative externalities leading to long-term economic costs, which resulted in countries trying to keep the short-term costs of climate action to a minimum. Carney argued that climate change, as well as climate policy, can also lead to short-term financial risks, potentially causing strong adjustments in asset prices. Analysing the effect of a sustainability transition on the financial sector challenges traditional economic and financial analysis and requires a much deeper understanding of the interrelations between climate policy and financial markets. This dissertation thus investigates the implications of climate policy for financial markets as well as the role of financial markets in a transition to a sustainable economy. The approach combines insights from macroeconomic and financial risk analysis. Following an introduction and classification in Chapter 1, Chapter 2 shows a macroeconomic analysis that combines ambitious climate targets (negative externality) with technological innovation (positive externality), adaptive expectations and an investment program, resulting in overall positive macroeconomic outcomes. The analysis also reveals the limitations of climate economic models in their representation of financial markets. Therefore, the subsequent part of this dissertation is concerned with the link between climate policies and financial markets. In Chapter 3, an empirical analysis of stock-market responses to the announcement of climate policy targets is performed to investigate impacts of climate policy on financial markets. Results show that 1) international climate negotiations have an effect on asset prices and 2) investors increasingly recognize transition risks in carbon-intensive investments. In Chapter 4, an analysis of equity markets and the interbank market shows that transition risks can potentially affect a large part of the equity market and that financial interconnections can amplify negative shocks. In Chapter 5, an analysis of mortgage loans shows how information on climate policy and the energy performance of buildings can be integrated into risk management and reflected in interest rates. While costs of climate action have been explored at great depth, this dissertation offers two main contributions. First, it highlights the importance of a green investment program to strengthen the macroeconomic benefits of climate action. Second, it shows different approaches on how to integrate transition risks and opportunities into financial market analysis. Anticipating potential losses and gains in the value of financial assets as early as possible can make the financial system more resilient to transition risks and can stimulate investments into the decarbonization of the economy.}, language = {en} } @article{Schunz2012, author = {Schunz, Simon}, title = {Gescheiterte Klimapolitik?}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81347}, pages = {67 -- 72}, year = {2012}, abstract = {Der Kopenhagener Klimagipfel 2009 ist mit Spannung erwartet worden. Erreicht wurde lediglich ein Minimalkonsens. Der Autor liefert eine akteurszentrierte Deutung des Kopenhagener Abkommens und stellt die Frage nach dem Pr{\"a}zedenzcharakter der Verhandlungen: Handelte es sich um ein einmaliges Versagen multilateraler Diplomatie oder um einen Vorgeschmack auf die weltpolitische Routine des 21. Jahrhunderts?}, language = {de} } @article{Schroeder2012, author = {Schr{\"o}der, Miriam}, title = {China und Indien}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81311}, pages = {41 -- 49}, year = {2012}, abstract = {Der Artikel analysiert die neue Rolle aufsteigender Schwellenl{\"a}nder in den internationalen Klimaverhandlungen am Beispiel Chinas und Indiens. Die Ablehnung verbindlicher Reduktionsziele f{\"u}r Treibhausgase wurde in Kopenhagen als Blockadepolitik beider L{\"a}nder gewertet. China und Indien k{\"o}nnen sich in ihrer Position behaupten, da ihr gestiegenes Gewicht in der multipolaren Weltordnung und die Unt{\"a}tigkeit f{\"u}hrender Industriel{\"a}nder ihre Verhandlungsposition st{\"a}rkt. Die Autorin diskutiert Kooperationsm{\"o}glichkeiten auf subnationaler Ebene, die die Blockadeposition nationaler Regierungen umgehen k{\"o}nnen.}, language = {de} } @article{Roettgen2012, author = {R{\"o}ttgen, Norbert}, title = {Regierungserkl{\"a}rung zu den Ergebnissen der Klimakonferenz in Durban}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81376}, pages = {93 -- 100}, year = {2012}, language = {de} } @article{PickeringSkovgaardKimetal.2015, author = {Pickering, Jonathan and Skovgaard, Jakob and Kim, Soyeun and Roberts, J. Timmons and Rossati, David and Stadelmann, Martin and Reich, Hendrikje}, title = {Acting on Climate Finance Pledges: Inter-Agency Dynamics and Relationships with Aid in Contributor States}, series = {World development}, volume = {68}, journal = {World development}, publisher = {Elsevier}, address = {Oxford}, issn = {0305-750X}, doi = {10.1016/j.worlddev.2014.10.033}, pages = {149 -- 162}, year = {2015}, abstract = {Developed countries have relied heavily on aid budgets to fulfill their pledges to boost funding for addressing climate change in developing countries. However, little is known about how interaction between aid and other ministries has shaped contributors' diverse approaches to climate finance. This paper investigates intra-governmental dynamics in decision-making on climate finance in seven contributor countries (Australia, Denmark, Germany, Japan, Switzerland, the UK, and the US). While aid agencies retained considerable control over implementation, environment and finance ministries have played an influential and often contrasting role on key policy issues, including distribution between mitigation and adaptation and among geographical regions. (C) 2014 Elsevier Ltd. All rights reserved.}, language = {en} } @article{OllierMelligerLilliestam2020, author = {Ollier, Lana and Melliger, Marc Andr{\´e} and Lilliestam, Johan}, title = {Friends or foes?}, series = {Energies : open-access journal of related scientific research, technology development and studies in policy and management}, volume = {13}, journal = {Energies : open-access journal of related scientific research, technology development and studies in policy and management}, number = {23}, publisher = {MDPI}, address = {Basel}, issn = {1996-1073}, doi = {10.3390/en13236339}, pages = {23}, year = {2020}, abstract = {Energy efficiency measures and the deployment of renewable energy are commonly presented as two sides of the same coin-as necessary and synergistic measures to decarbonize energy systems and reach the temperature goals of the Paris Agreement. Here, we quantitatively investigate the policies and performances of the EU Member States to see whether renewables and energy efficiency policies are politically synergistic or if they rather compete for political attention and resources. We find that Member States, especially the ones perceived as climate leaders, tend to prioritize renewables over energy efficiency in target setting. Further, almost every country performs well in either renewable energy or energy efficiency, but rarely performs well in both. We find no support for the assertion that the policies are synergistic, but some evidence that they compete. However, multi-linear regression models for performance show that performance, especially in energy efficiency, is also strongly associated with general economic growth cycles, and not only efficiency policy as such. We conclude that renewable energy and energy efficiency are not synergistic policies, and that there is some competition between them.}, language = {en} } @article{Mueller2012, author = {M{\"u}ller, Melanie}, title = {Die Zivilgesellschaft in der internationalen Klimapolitik}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81331}, pages = {59 -- 66}, year = {2012}, abstract = {Die Zivilgesellschaft hat dazu beigetragen, dass die Klimakonferenz in Kopenhagen zu einem Medienereignis wurde. Fernab großer Demonstrationen haben Nichtregierungsorganisationen (NRO) seit Jahren einen guten Zugang zu den internationalen Klimaverhandlungen. Am Beispiel von Chile wird gezeigt, wie Nichtregierungsorganisationen durch professionellen Lobbyismus ihre Positionen in politische Prozesse einspeisen. Sie befinden sich in einem Spannungsfeld von Kooperation und Instrumentalisierung durch politische Entscheidungstr{\"a}ger.}, language = {de} } @phdthesis{Mielke2018, author = {Mielke, Jahel}, title = {Coordination on Green Investment}, doi = {10.25932/publishup-42745}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-427459}, school = {Universit{\"a}t Potsdam}, pages = {viii, 209}, year = {2018}, abstract = {To reach its climate targets, the European Union has to implement a major sustainability transition in the coming decades. While the socio-technical change required for this transition is well discussed in the academic literature, the economics that go along with it are often reduced to a cost-benefit perspective of climate policy measures. By investigating climate change mitigation as a coordination problem, this thesis offers a novel perspective: It integrates the economic and the socio-technical dimension and thus allows to better understand the opportunities of a sustainability transition in Europe. First, a game theoretic framework is developed to illustrate coordination on green or brown investment from an agent perspective. A model based on the coordination game "stag hunt" is used to discuss the influence of narratives and signals for green investment as a means to coordinate expectations towards green growth. Public and private green investment impulses - triggered by credible climate policy measures and targets - serve as an example for a green growth perspective for Europe in line with a sustainability transition. This perspective also embodies a critical view on classical analyses of climate policy measures. Secondly, this analysis is enriched with empirical results derived from stakeholder involvement. In interviews and with a survey among European insurance companies, coordination mechanisms such as market and policy signals are identified and evaluated by their impact on investment strategies for green infrastructure. The latter, here defined as renewable energy, electricity distribution and transmission as well as energy efficiency improvements, is considered a central element of the transition to a low-carbon society. Thirdly, this thesis identifies and analyzes major criticisms raised towards stakeholder involvement in sustainability science. On a conceptual level, different ways of conducting such qualitative research are classified. This conceptualization is then evaluated by scientists, thereby generating empirical evidence on ideals and practices of stakeholder involvement in sustainability science. Through the combination of theoretical and empirical research on coordination problems, this thesis offers several contributions: On the one hand, it outlines an approach that allows to assess the economic opportunities of sustainability transitions. This is helpful for policy makers in Europe that are striving to implement climate policy measures addressing the targets of the Paris Agreement as well as to encourage a shift of investments towards green infrastructure. On the other hand, this thesis enhances the stabilization of the theoretical foundations in sustainability science. Therefore, it can aid researchers who involve stakeholders when studying sustainability transitions.}, language = {en} } @article{LilliestamPattBersalli2020, author = {Lilliestam, Johan and Patt, Anthony and Bersalli, German}, title = {The effect of carbon pricing on technological change for full energy decarbonization}, series = {Wiley interdisciplinary reviews : Climate change}, volume = {12}, journal = {Wiley interdisciplinary reviews : Climate change}, number = {1}, publisher = {Wiley}, address = {Hoboken}, issn = {1757-7780}, doi = {10.1002/wcc.681}, pages = {21}, year = {2020}, abstract = {In order to achieve the temperature goals of the Paris Agreement, the world must reach net-zero carbon emissions around mid-century, which calls for an entirely new energy system. Carbon pricing, in the shape of taxes or emissions trading schemes, is often seen as the main, or only, necessary climate policy instrument, based on theoretical expectations that this would promote innovation and diffusion of the new technologies necessary for full decarbonization. Here, we review the empirical knowledge available in academic ex-post analyses of the effectiveness of existing, comparatively high-price carbon pricing schemes in the European Union, New Zealand, British Columbia, and the Nordic countries. Some articles find short-term operational effects, especially fuel switching in existing assets, but no article finds mentionable effects on technological change. Critically, all articles examining the effects on zero-carbon investment found that existing carbon pricing scheme have had no effect at all. We conclude that the effectiveness of carbon pricing in stimulating innovation and zero-carbon investment remains a theoretical argument. So far, there is no empirical evidence of its effectiveness in promoting the technological change necessary for full decarbonization. This article is categorized under: Climate Economics > Economics of Mitigation}, language = {en} } @article{Lederer2012, author = {Lederer, Markus}, title = {Klimapolitik zwischen Kyoto und Canc{\´u}n}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81364}, pages = {83 -- 92}, year = {2012}, abstract = {In diesem einleitenden Beitrag des Themenschwerpunktes wird der Hintergrund der internationalen Klimaverhandlungen erl{\"a}utert und die Ergebnisse des Kopenhagen-Akkords vorgestellt. Angesichts des Scheiterns der Kopenhagener Konferenz muss die zeitnahe Schließung eines rechtlich bindenden, globalen Klimaabkommens als unwahrscheinlich gelten. Die Klimapolitik wird zuk{\"u}nftig verst{\"a}rkt auf nationalstaatlicher und transnationaler Ebene erfolgen.}, language = {de} } @article{KraemerKleinwaechter2012, author = {Kr{\"a}mer, Raimund and Kleinw{\"a}chter, Kai}, title = {Brandenburg ist klimapolitisch gut aufgestellt!}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81285}, pages = {11 -- 20}, year = {2012}, language = {de} } @article{Kleinwaechter2012, author = {Kleinw{\"a}chter, Kai}, title = {Einleitung}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81267}, pages = {9 -- 10}, year = {2012}, language = {de} } @techreport{HaenselFranksKalkuhletal.2021, type = {Working Paper}, author = {H{\"a}nsel, Martin C. and Franks, Max and Kalkuhl, Matthias and Edenhofer, Ottmar}, title = {Optimal carbon taxation and horizontal equity}, series = {CEPA Discussion Papers}, journal = {CEPA Discussion Papers}, number = {28}, issn = {2628-653X}, doi = {10.25932/publishup-49812}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-498128}, pages = {51}, year = {2021}, abstract = {We develop a model of optimal carbon taxation and redistribution taking into account horizontal equity concerns by considering heterogeneous energy efficiencies. By deriving first- and second-best rules for policy instruments including carbon taxes, transfers and energy subsidies, we then investigate analytically how horizontal equity is considered in the social welfare maximizing tax structure. We calibrate the model to German household data and a 30 percent emission reduction goal. Our results show that energy-intensive households should receive more redistributive resources than energy-efficient households if and only if social inequality aversion is sufficiently high. We further find that redistribution of carbon tax revenue via household-specific transfers is the first-best policy. Equal per-capita transfers do not suffer from informational problems, but increase mitigation costs by around 15 percent compared to the first- best for unity inequality aversion. Adding renewable energy subsidies or non-linear energy subsidies, reduces mitigation costs further without relying on observability of households' energy efficiency.}, language = {en} } @article{Hickmann2013, author = {Hickmann, Thomas}, title = {Private authority in global climate governance the case of the clean development mechanism}, series = {Climate \& development}, volume = {5}, journal = {Climate \& development}, number = {1}, publisher = {Routledge, Taylor \& Francis Group}, address = {Abingdon}, issn = {1756-5529}, doi = {10.1080/17565529.2013.768174}, pages = {46 -- 54}, year = {2013}, abstract = {The Clean Development Mechanism (CDM) is a prominent example of the mix of public and private authority in global climate policy-making. While national governments hold the supreme authority in the CDM, the oversight and daily supervision of the project-based mechanism have been delegated via an intergovernmental body to private corporations that evaluate the environmental performance of individual CDM projects. By focusing on the CDM as a particular instance of private authority in global climate governance, this article analyses the consequences associated with the delegation of authority to private actors. The article critically assesses the role of private auditing corporations, labelled Designated Operational Entities, in the regulatory framework of the CDM and points to serious trade-offs which accompany the privatisation of authority. The article's findings suggest that the promise of innovative modes of governance to increase the effectiveness of international regulation is seriously compromised by the profit-seeking behaviour of private actors. Hence, the article underscores the need to reconsider the balance between public and private authority in global (climate) governance.}, language = {en} } @article{Hentschel2012, author = {Hentschel, Karl-Martin}, title = {Klimapolitik am Ende?}, series = {Klimapolitik International}, journal = {Klimapolitik International}, editor = {Kleinw{\"a}chter, Kai}, publisher = {Universit{\"a}tsverlag Potsdam}, address = {Potsdam}, issn = {1868-6222}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-81299}, pages = {21 -- 30}, year = {2012}, language = {de} }