188.8.131.52 Costs of mitigation in regional and country scenarios
Figure 3.31 shows the relationship between carbon prices and the CO2 mitigation rates from the baseline in 2050 in some major countries and regions such as the USA, Japan, EU-15, India, China, Former Soviet Union (FSU) and Eastern Europe, taken from the literature since the TAR (Hanaoka et al., 2006). In the developing countries there are many scenarios where relatively high CO2 reductions are projected even with low carbon prices. With high prices in the range of 100-150 US$/tCO2 (in 2000 US dollars) more CO2 reductions are expected in China and India than in developed countries when the same level of carbon price is applied.
Figure 3.31: Relationship between carbon prices and CO2 reduction from baseline in 2050 in selected countries taken from the literature published since the TAR.