Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:07:38pm CEST (Norway)
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Daily Overview |
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Egg-timer session: Climate policy and trade Location: Auditorium J: Aina Uhde Session Chair: Brita Bye, Statistics Norway | |
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The Geopolitical Externality of Climate Policy 1: Potsdam Institute for Climate Impact Research, Germany; 2: Climate Transition Economics, Berlin, Germany; 3: University of Wurzburg, Germany This paper conceptualizes the geopolitical externality of climate policy and estimates its plausible magnitudes. By reducing global fossil fuel prices, domestic demand reductions lower export revenues in resource-rich autocratic nations with high military expenditures. Climate policy can thus help reduce geopolitical and security burdens on Western democracies, offering a potential “peace dividend” as a co-benefit. Exploiting the link between the European Union’s oil consumption and the EU’s costs of the Russian war in Ukraine as a case study, we underscore the significance of this externality. We estimate that each euro spent on oil in the EU indirectly generated costs ranging from 11 cents to 7.5 euros in domestic military spending and financial support to Ukraine. From a European security perspective, implementing a carbon price on oil in the range of 21-1,471 EUR/tCO2 would internalize the geopolitical costs. Our analysis demonstrates that, even under conservative assumptions, the geopolitical externality offers a compelling argument for strong unilateral policies to reduce EU’s fossil fuel demand | |