Baran Doda

Research Fellow

Baran Doda is a Research Fellow at the Grantham Research Institute on Climate Change and the Environment. He joined the institute in September 2011. His research focuses on the causes and consequences of anthropogenic climate change through the lens of macroeconomics.


Baran completed his formal training in economics in Canada. He holds a PhD and an MA from the University of Toronto, and a BA from Simon Fraser University. He is also an alumnus of the United World College of the Adriatic, Italy. He was previously employed as an economist at the Bank of Canada, taught undergraduate economics in Canada and the UK, and worked as a freelance economics consultant.


Research interests

  • Climate change mitigation polices;
  • Macroeconomics of climate change;
  • Green growth.
Working paper  27 February, 2019

Linking permit markets multilaterally

This paper develops a novel theoretical tool with which a jurisdiction can evaluate the economic gains it can expect to obtain by linking its emissions trading system (ETS) to one, two or many ETSs at the same time, and proposes a reason why the global market remains a distant dream. read more »


Research article  5 November, 2018

Tales from the tails: sector-level carbon intensity distribution

The level of GDP, its sector composition and the carbon intensity of individual sectors together determine a country’s emissions. To evaluate the contribution of changes in each determinant, I construct … read more »

Research article  27 September, 2018

The economics of 1.5°C climate change

The economic case for limiting warming to 1.5°C is unclear, due to manifold uncertainties. However, it cannot be ruled out that the 1.5°C target passes a cost-benefit test. Costs are … read more »


Working paper  26 September, 2017

Energy policy and the power sector in the long run

This paper simulates the distributional consequences of alternative carbon emission reduction policies on power producers and finds that that a carbon tax outperforms all other instruments and does not reduce the profits of carbon-free generators. read more »

Research article  2 June, 2017

Carbon dating: when is it beneficial to link ETSs?

We propose a theory of the economic advantage (EA) of regulating carbon emissions by linking two emissions trading systems versus operating them under autarky. Linking implies that permits issued in … read more »


Working paper  10 October, 2016

Tales from the tails: Sector-level carbon intensity distribution

This study of 39 countries shows that business sectors that have low levels of carbon dioxide emissions per output are outpacing the general economy in terms of productivity growth, while increasing the number of jobs and skill levels. read more »

Working paper  1 August, 2016

Carbon dating: When is it beneficial to link ETSs?

We propose a theory of the economic advantage (EA) of regulating carbon emissions by linking two emissions trading systems versus operating them under autarky. Linking implies that permits issued in … read more »


Research article  22 October, 2015

How to price carbon in good times … and bad!

This article focuses on the relationship between the design of carbon pricing instruments and business cycle fluctuations. read more »

Research article  2 February, 2015

Are corporate carbon management practices reducing corporate carbon emissions?

This paper is the first large scale, quantitative study of the impact of corporate carbon management practices on corporate greenhouse gas (GHG) emissions. Using data for 2009 and 2010 from the Carbon Disclosure Project survey, we find little compelling evidence that commonly adopted management practices are reducing emissions. read more »


Working paper  15 October, 2014

Why is geoengineering so tempting?

Geoengineering can be defined as the technologies that aim to deliberately alter geophysical mechanisms in order to alleviate the impacts of climate change. It has received increasing attention by economists … read more »

Research article  28 June, 2014

Evidence on business cycles and CO2 emissions

CO2 emissions and GDP move together over the business cycle. Most climate change researchers would agree with this statement despite the absence of a study that formally analyzes the relationship between emissions and GDP at business cycle frequencies. The paper provides a rigorous empirical analysis of this relationship in a comprehensive cross-country panel by decomposing the emissions and GDP series into their growth and cyclical components using the HP filter. read more »


Working paper  1 June, 2013

Emissions GDP relationship in times of growth and decline

This empirical paper focuses on the relationship between changes in GDP and CO2 emissions as a country’s economy moves through periods of growth and decline. Using … read more »


Working paper  1 April, 2012

Evidence on CO2 emissions and business cycles

CO2 emissions and GDP are positively correlated over the business cycle. Most climate change researchers would agree with the preceding intuitive statement despite the absence of … read more »

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Policy publications  2 August, 2019

The future of carbon pricing: Consultation response

This written evidence was submitted on 12 July 2019 to the joint consultation into ‘The future of carbon pricing’, being carried out by the UK, Scottish and Welsh Governments, and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland. read more »


Policy publications  31 July, 2018

Barriers to linking carbon markets in Northeast Asia

Chapter in the Carbon Market Cooperation in Northeast Asia: Assessing Challenges and Overcoming Barriers compendium report. Published by the Asia Society Policy Institute. External link to publisher Abstract Linking carbon … read more »


Policy publications  5 December, 2017

Statkraft-LSE Program: Credible, effective and publicly acceptable policies to decarbonise the European Union

Presentation for Brussels launch event, 05 December 2017

Policy publications  5 December, 2017

Credible, effective and publicly acceptable policies to decarbonise the European Union: Final report

This report investigates the extent to which current policies and institutional arrangements are fit for purpose for the new decarbonisation phase into which the EU is entering. It summarises the main findings from the Statkraft research programme. read more »


Policy publications  22 September, 2016

Submission to the inquiry by the Energy and Climate Change Committee inquiry on ‘Leaving the EU: implications for UK climate policy’

This submission explores whether the UK should seek to stay in or leave the EU emissions trading system (EU ETS) as part of Brexit negotiations. It finds that leaving the EU ETS would result in the UK losing access to low-cost emission reduction opportunities that are only available in what is currently the world’s largest carbon market. It also highlights that leaving the EU ETS to link with other existing or planned emissions trading systems could generate significant administrative costs that potentially offset any economic benefits. read more »


Policy publications  12 December, 2014

How to price carbon in good times… and bad

Responsive cap-and-trade systems and carbon taxes can improve climate change policy by allowing higher greenhouse gas emissions during times of economic expansions and lower emissions during recessions. read more »


Policy publications  1 January, 2011

The 'surrender charge' on international units in the Australian ETS

Cameron Hepburn, Sarah Chapman, Baran Doda, Chris Duffy, Samuel Fankhauser, James Rydge, Kathryn Smith, Luca Taschini and Alessandro Vitelli

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In the news  20 April, 2017

Carbon markets: link with caution

Letter published in Nature, 20 April

Commentary  14 February, 2017

Should the UK stay or should it go? The consequences of a divorce with the EU ETS

As the UK prepares for Brexit, its future participation in the European Union Emissions Trading System (EU ETS) has yet to be decided. Ian Duncan, Conservative MEP for Scotland and … read more »


In the news  8 April, 2016

Here’s a way to make carbon markets work better

Luca Taschini and Baran Doda explain how carbon markets could play a crucial role in delivering promises made at the Paris climate conference. read more »


Announcement  29 January, 2013

Cutting carbon: what works, what doesn’t? Grantham shares latest research findings at LSE Energy Society Conference

Credits for all photographs: LSESU Energy Society Grantham Research Institute members David Grover and Baran Doda joined students from LSE and beyond, to talk about transparency and carbon reporting, as … read more »


Commentary  12 September, 2012

Book Review: The New North: Our World in 2050 by Laurence C. Smith

What kind of world do we want? This is the question with which Laurence Smith ends his new book, The New North. I like that ending. It does not prescribe but allows the reader to contemplate the world in 2050 as a malleable object. read more »

Commentary  26 April, 2012

Our dirty secret? Getting to grips with national greenhouse gas outsourcing (PDF)

Despite the UK’s success in reducing territorial emissions, we are importing significantly more emissions than ever we have shifted the production of many domestically consumed goods abroad, particularly to China. read more »

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Grantham Workshop 15 Nov 2017

Grantham Workshop | Baran Doda

Baran Doda, a Researcher Officer at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics, will be the speaker for this seminar.


Conferences 26 Mar 2015

Green Growth and the New Industrial Revolution

Keynote Speakers Professor Cameron Hepburn, University of Oxford and Grantham Research Institute Simon Upton, Environment Director, OECD Chairs Professor Dame Judith Rees, Grantham Research Institute Professor Sam Fankhauser, Grantham Research … read more »

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