Australia's Path to Net Zero: Capitalising on Carbon Markets. This project aims to assist Australia’s efforts to achieve net zero carbon emissions by 2050 by identifying the most effective, low-cost m

Description

Australia's Path to Net Zero: Capitalising on Carbon Markets. This project aims to assist Australia’s efforts to achieve net zero carbon emissions by 2050 by identifying the most effective, low-cost market mechanisms to incentivise the largest polluters to reduce their emissions. Using the novel approach of game theory modelling to analyse key elements of the carbon market, the research is expected to generate new knowledge on auction theory and market mechanisms and design. Its anticipated outcomes include guidance for policy-makers drafting the carbon market rules that will be crucial to achieving the 2050 goal. Given the urgency of limiting global temperature rises to 1.5 C, the project is expected to deliver potentially far-reaching environmental and social benefits in Australia and beyond.. Scheme: Discovery Projects. Field: 3801 - Applied Economics. Lead: Prof Isa Hafalir