EXPLORING CONSUMER PREFERENCES FOR NET-ZERO POLICIES: WILLINGNESS TO PAY AMONG UK CITIZENS FOR NATIONAL GREENHOUSE GAS REDUCTION TARGETS UNDER DIFFERENT FUTURE DISCOUNTING ASSUMPTIONS
| Autor: | RICKY N. LAWTON, DANIEL FUJIWARA |
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| Rok vydání: | 2022 |
| Předmět: | |
| Zdroj: | Climate Change Economics. 14 |
| ISSN: | 2010-0086 2010-0078 |
| DOI: | 10.1142/s2010007823500070 |
| Popis: | Following the UK’s hosting of the United Nations Convention of the Parties Climate Summit in 2021, political targets for reducing greenhouse gas emissions — “Net-Zero” — have gained momentum. We address the gap in how public preferences are accounted for in climate decision-making by applying Contingent-Valuation techniques which ask people to state their Willingness-to-Pay (WTP) for the UK’s 2050 Net-Zero target. Mean WTP is £37.57/household to support Net-Zero (median £11.25), with a present-value of £2.3 billion across UK households. While younger people are more likely to experience the long-term impacts of climate change, older generations are willing to pay more to support it, suggesting that public support for Net-Zero is largely based on “nonuse” benefits, rather than direct “use” benefits to oneself. The COVID-19 epidemic affected WTP bids in a quarter of respondents. Finally, we explore how choice of positive or normative discount rate affects policy conclusions when monetizing consumer preferences. |
| Databáze: | OpenAIRE |
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