@article {446381, title = {Economic Tools to Promote Transparency and Comparability in the Paris Agreement}, journal = {Nature Climate Change}, year = {2016}, month = {Aug 2016}, abstract = {The Paris Agreement culminates a six-year transition toward an international climate policy architecture based on parties submitting national pledges every five years. An important policy task will be to assess and compare these contributions. We use four integrated assessment models to produce metrics of Paris Agreement pledges, and show differentiated effort across countries: wealthier countries pledge to undertake greater emission reductions with higher costs. The pledges fall in the lower end of the distributions of the social cost of carbon (SCC) and the cost-minimizing path to limiting warming to 2$^{0}$C, suggesting insufficient global ambition in light of leaders{\textquoteright} climate goals. Countries{\textquoteright} marginal abatement costs vary by two orders of magnitude, illustrating that large efficiency gains are available through joint mitigation efforts and/or carbon price coordination.\  Marginal costs rise almost proportionally with income, but full policy costs reveal more complex regional patterns due to terms of trade effects.}, author = {Joseph El Aldy and William Pizer and Massimo Tavoni and Lara Aleluia Reis and Keigo Akimoto and Geoffrey Blanford and Carlo Carraro and Leon E. Clarke and James Edmonds and Gokul C. Iyer and Haewon C. McJeon and Richard Richels and Steven Rose and Fuminori Sano} }