An Analysis of the Medium-term Target for CO₂ Reduction by the JCER-CGE Model

Abstract

New policy for climate change mitigation after the Kyoto protocol is to be discussed at COP 15 in Copenhagen in December 2009. In preparation for this discussion, the Japanese government formed the Medium-term Target Committee to set the medium-term target for GHG reduction in Japan. Together with other research institutes, Japan Center for Econolmic Research (JCER) participated in the committee to analyze the economic impacts of alternative GHG reduction scenarios. In this paper, we attempt a detailed explanation of the JCER-CGE model and analyze the reduction scenarios considered by the Committee.