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Prof. Samuel Fankhauser
Co-Director
Sam has been Co-Director of the Grantham Research Institute on Climate Change and the Environment since March 2011, along with Prof Simon Dietz.
Sam joined the Grantham Research Institute in 2008 as a Principal Research Fellow. He also holds the following positions:
- Deputy Director of the Centre for Climate Change Economics and Policy;
- Member of the Committee on Climate Change, an independent, statutory body that advises the UK government on carbon targets;
- Non-Executive Director of CDC Group, the UK’s Development Finance Institution;
- Member of Climate Strategies;
- Member of the Editorial Board of the journals Global Environmental Change and Climate Policy.
Background
Before joining the Grantham Research Institute, Sam served as Deputy Chief Economist at the European Bank for Reconstruction and Development (EBRD). He has also worked at the World Bank, the Global Environment Facility and in the private sector.
Sam has studied economics at the University of Berne (Switzerland), the London School of Economics and University College London.
Research interests
- The economics of adaptation to climate change;
- Climate finance and the functioning of carbon markets;
- Climate change policy in the UK.
Adaptation to climate change
This article reviews the economic and analytical challenges of adaptation to climate change. Adaptation to climate risks that can no longer be avoided is an important aspect of the global … read more »
Climate change, development, poverty and economics
Putting the SDGs and Paris Agreement together, the agreements of 2015 have given us, for the first time, a global agenda for sustainable development applying to all countries. This paper sets out the implications of this agenda, and climate change in particular, for development economics and development policy. read more »
The Economics of Climate-Resilient Development
Some climate change is now inevitable and strategies to adapt to these changes are quickly developing. The question is particularly paramount for low-income countries, which are likely to be most … read more »
2015
The political economy of passing climate change legislation: evidence from a survey
This paper reviews the main domestic factors that drive legislation on climate change. read more »
Where are the gaps in climate finance?
Climate change cannot be addressed unless developed and developing countries alike invest heavily in low-carbon technologies and climate-resilient practices. Access to finance has therefore become central to climate change policy. … read more »
Development Aid and Climate Finance
This paper discusses the implications of climate change for official transfers from rich countries (the North) to poor countries (the South) when the motivation for transfers is ethical rather than strategic. read more »
Do international factors influence the passage of climate change legislation?
The number of climate change laws in major economies has grown from less than 40 in 1997 to almost 500 at the end of 2013. The passage of these laws is influenced by both domestic and international factors. This paper reviews the main international factors, drawing on a powerful new dataset of climate legislation in 66 national jurisdictions. We find that the propensity to legislate on climate change is heavily influenced by the passage of similar laws elsewhere, suggesting a strong and so far under-appreciated role for international policy diffusion. read more »
2014
Financing for Sustainable Development
Fankhauser, S. and D.W. Pearce (2014). Book chapter in: G. Atkinson, S. Dietz, E. Neumayer and M. Agarwala, eds. Handbook of Sustainable Development. Cheltenham: Edward Elgar.
Understanding the adaptation deficit: why are poor countries more vulnerable to climate events than rich countries?
This paper analyses the link between income and adaptation to climate events theoretically and empirically. read more »
Domestic dynamics and international influence: What explains the passage of climate change legislation?
This paper analyses national and international factors that drive the adoption of legislation on climate change. Our unique dataset of climate laws identifies 419 pieces of … read more »
2013
Who will win the green race? In search of environmental competitiveness and innovation
Fankhauser, Samuel, Bowen, Alex, Calel, Raphael, Dechezlepretre, Antoine, Grover, David, Rydge, James and Sato, Misato (2013) Who will win the green race? In search of environmental competitiveness and innovation. Global … read more »
Understanding the adaptation deficit: why are poor countries more vulnerable to climate events than rich countries?
Understanding the adaptation deficit: why are poor countries more vulnerable to climate events than rich countries? read more »
Development aid and climate finance
This paper discusses the implications of climate change for official transfers from rich countries (the North) to poor countries (the South). The concern is no longer … read more »
How national legislation can help to solve climate change
Reference Townshend, T., Fankhauser, S., Aybar, R., Collins, M., Landesman, T., Nachmany, M., and Pavese, C. April 2013. How national legislation can help to solve climate change. Nature Climate Change, v.3, pp.430-432.
2012
Who will win the green race? In search of environmental competitiveness and innovation
As the world considers greener forms of economic growth, countries and sectors are beginning to position themselves for the emerging green economy. This paper combines patent … read more »
2011
The green growth narrative: paradigm shift or just spin?
Reference Bowen, A., and Fankhauser, S. October 2011. The green growth narrative: paradigm shift or just spin? Global Environmental Change, v.21, pp.1157-1159. External link to full article|
Do climate targets work?
It is only a small exaggeration to say that climate change policy is dominated by targets. Internationally, the emission reduction commitments of industrialized countries are the cornerstone of the … read more »
Legislating climate change on a national level
Reference Townshend, T., Fankhauser, S., Matthews, A., Feger, C., Liu, J., and Narciso, T. September 2011. Legislating climate change on a national level. Environment, v.53, pp.5-16.
Spending adaptation money wisely
Discussions about adaptation finance have largely concentrated on process: how money should be raised and how adaptation spending should be governed and monitored. This article seeks to move the … read more »
Combining multiple climate policy instruments: how not to do it
Putting a price on carbon is critical for climate change policy. Increasingly, policy makers combine multiple policy tools to achieve this, for example, by complementing cap-and-trade … read more »
Low-carbon development for the least developed countries
The contribution of the least developed countries (LDCs) to the greenhouse gas problem is very small. LDCs accounted for just over 4% of global greenhouse gas (GHG) emissions in … read more »
Spending adaptation money wisely
The discussions about adaptation finance have mostly been about process: how money should be raised and how adaptation spending should be governed and monitored. This paper … read more »
2010
Combining multiple climate policy instruments: How not to do it
Putting a price on carbon is critical for climate change policy. Increasingly, policymakers combine multiple policy tools to achieve this, for example by complementing cap-and-trade schemes with a carbon … read more »
Market and policy driven adaptation: an alternative perspective
The policy debate on climate change distinguishes two generic response options. The first (and more prominent) option is mitigation. Mitigation addresses the causes of climate change by reducing the … read more »
Environmental prices, uncertainty and learning
There is an increasing demand for putting a shadow price on the environment to guide public policy and incentivize private behaviour. In practice, setting that price can be extremely … read more »
Designing carbon markets. Part I: carbon markets in time
This paper analyses the design of carbon markets in time (i.e., intertemporally). It is part of a twin set of papers that ask, starting from first principles, what an … read more »
Designing carbon markets. Part II: carbon markets in space
Designing carbon markets read more »
Adaptation investments: a resource allocation framework
Additional finance for adaptation is an important element of the emerging international climate change framework. This paper discusses how adaptation funding may be allocated among developing countries in a … read more »
The costs of adaptation
The costs of adaptation read more »
The economics of the CDM levy: revenue potential, tax incidence and distortionary effects
A levy on the Clean Development Mechanism and other carbon trading schemes is a potential source of finance for climate change adaptation. An adaptation levy of 2% is currently … read more »
2009
The carbon market in 2020: volumes, prices and gains from trade
Carbon markets are central to the global effort to reduce greenhouse gas emissions. We introduce a new carbon market model that aims to simulate the development … read more »
The costs of adaptation
Policy interest in the cost of adaptation is growing, but compared to the mitigation cost literature, adaptation cost research is still in its infancy. Global adaptation … read more »
Carbon markets in space and time
We analyse the design of carbon markets in time (intertemporally) and space (geographically) from first principles, starting initially with a relatively clean slate and asking what … read more »
The Clean Development Mechanism: too flexible to produce sustainable development benefits?
The Clean Development Mechanism (CDM) of the Kyoto Protocol has a dual objective: to encourage low-cost emission reduction and to promote sustainable development in the host … read more »
The economics of the CDM levy: Revenue potential, tax incidence and distortionary effects
A levy on the Clean Development Mechanism (CDM) and other carbon trading schemes is a potential source of finance for climate change adaptation. An adaptation levy … read more »
2008
Climate change, innovation and jobs
The employment effect of climate policy has emerged as an important concern of policy makers, not least in the USA. Yet the impact of climate policy on jobs is … read more »
The Global Climate Legislation Study - 2016 update
The Climate Legislation Study covers over 850 national laws and policies directly related to climate change mitigation and adaptation. Launched in 2010 covering only 16 countries, the study currently covers 99 jurisdictions, which, taken together, produce 93 per cent of global emissions and are home to 90 per cent of the world’s forests. The database includes 46 of the world’s top 50 emitters. read more »
Should we tax or trade carbon?
Published in: Bridging the Ambition Gap: The Rise, Reach and Power of Carbon Markets. 13th Edition of Greenhouse Gas Market Report. 2016. External link to publisher
‘Green growth’ and the new Industrial Revolution
This policy brief summarises the main policy implications of a two-year research programme, sponsored by the Global Green Growth Institute (GGGI), which aimed to contribute to the growing evidence base on green growth. read more »
2015
Consultation response: ‘Reforming the business energy efficiency tax landscape'
This policy paper was submitted to HM Treasury in response to its consultation on 'Reforming the business energy efficiency tax landscape'. read more »
Climate change and migration in developing countries: evidence and implications for PRISE countries
This paper looks at the economic aspects of migration in six semi-arid countries that are the focus of the PRISE (Pathways to Resilience in Semi-Arid Economies) project: Burkina Faso, Senegal, Kenya, Tanzania, Pakistan and Tajikistan. read more »
Climate change adaptation in dynamic economies
Adaptation presents developing countries with the ultimate dual challenge – building a rapidly evolving, sustainable economy within an environment increasingly altered by the impacts of climate change. To meet this challenge, adaptation policy must find balance and create synergy between the two, as climate resilience and economic resilience go hand in hand. read more »
2014
Submission to the inquiry by the House of Commons Select Committee on Energy and Climate Change on ‘ Fuelling the debate: Committee successes and future challenges ’
Outlines the main energy and climate change challenges in the UK over the next five-year term read more »
Submission to inquiry on ‘Environmental risks of fracking’ by the House of Commons Environmental Audit Committee
This is a submission by the ESRC Centre for Climate Change Economics and Policy and Grantham Research Institute on Climate Change and the Environment at London School of Economics and … read more »
Walking alone? How the UK's carbon targets compare with its competitors'
The UK Government is reviewing the fourth carbon budget for the period 2023-27. The Committee on Climate Change has recommended that the budget, which was originally legislated in … read more »
The GLOBE climate legislation study: a review of climate change legislation in 66 countries
Note: New and updated 2015 edition available The GLOBE Climate Legislation Study is the most comprehensive audit of climate legislation across 66 countries, together responsible for around 88% of global … read more »
Non-economic losses in the context of the UNFCCC work programme on loss and damage
Sam Fankhauser, Simon Dietz and Phillip Gradwell
2013
Energy use policies and carbon pricing in the UK
Energy use policies and carbon pricing in the UK read more »
Climate change policies and the UK business sector: overview, impacts and suggestions for reform
The UK has a complex system of energy taxes which affect the business sector. Overlaps between taxes mean that carbon prices are uneven across sectors and fuels, and … read more »
An Independent National Adaptation Programme for England
An Independent National Adaptation Programme for England read more »
A UK 'dash' for smart gas
Shifting from coal to natural gas for electricity generation can help the UK power sector to decarbonise in the near term. With good planning and investment, natural gas can support the development of a low-carbon power sector by providing essential backup for intermittent renewables, but could only play a bigger role longer-term if fitted with carbon capture and storage (CCS) technology.
However, a new UK ‘dash’ for gas on the assumption of low prices is a risky economic and environmental option. A lower risk option is a ‘dash’ for smart gas; using natural gas in those areas where it offers the greatest value in decarbonising the power sector. read more »
The GLOBE Climate Legislation Study: a review of climate change legislation in 33 countries
Note: New and updated 2015 edition is available Terry Townshend, Sam Fankhauser, Rafael Aybar, Murray Collins, Tucker Landesman, Michal Nachmany and Carolina Pavese [Eds.]), third Edition – External link to … read more »
2012
The economics of wind power: submission to the inquiry by the House of Commons Select Committee on Energy and Climate Change
Samuela Bassi and Sam Fankhauser
A strategic approach to adaptation in Europe
Adaptation to climate change will be a permanent feature of decision making from now on. As such it is important to go about it in a strategic, rational way. … read more »
A practitioner's guide to a low-carbon economy: lessons from the UK
This paper identifies practical lessons for policy makers that seek to decarbonise their economies, drawing primarily on the UK experience. There are five main conclusions. First, decarbonisation needs a … read more »
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
2010
Adaptation in the UK: a decision-making process
Climate change is one of the most significant challenges we face. It will impact the UK population, environment and economy in many ways; including health, water supplies, food, … read more »
From adaptation to climate-resilient development: the costs of climate-proofing the Millennium Development Goals in Africa
Socio-economic development and adaptation to climate change are closely intertwined. Adaptation is increasingly described as climate resilient development or development under a hostile climate. In support of this view, … read more »
The allocation of adaptation funding
Providing additional finance for adaptation is a key element of the emerging international climate change framework. This paper discusses how adaptation funding may be allocated among developing countries in a … read more »
2009
An outline of the case for a 'green' stimulus
Alex Bowen, Samuel Fankhauser, Nicholas Stern and Dimitri Zenghelis
Why the end of DECC could be good news on climate change
What does the creation of a new Department for Business, Energy and Industrial Strategy (BEIS) mean for climate change policy? The move has variously been described as the abolition of … read more »
Mary Robinson: ‘climate justice’ must play a key role in the Paris Agreement
The Conversation, 16 March
Green groups condemn Budget's oil tax breaks
BBC, 16 March
Opec faces a mortal threat from electric cars
Telegraph, 23 December
Don't let national politics stand in the way of the progress made at the Paris climate conference
Independent, 14 December
Paris leaves lot of hard work to do
Korea Times, 14 December
2015
How to make UK energy policy more predictable again
LSE Politics Blog, 8 December 2015
How to make UK energy policy more predictable again
Co-Director, Sam Fankhauser explains that making strategy and decision-making more transparent, and delegating regulation to independent bodies, are steps that will help depoliticise the UK energy sector and increase investor trust. read more »
The climate summit can deliver
The Gulf, 1 December
Current events in Europe show how quickly a migrant and refugee crisis can escalate
Does a new study on the effects of climate change on migration patterns in developing countries have any implications for the current refugee crisis in Europe? read more »
Climate resilience and economic resilience go hand in hand
Developing countries should tackle the twin opportunities of climate resilience and economic resilience together argue Adriana Kocornik-Mina and Samuel Fankhauser. read more »
Green energy sector attacks chancellor's changes to climate change levy
The Guardian, 9 July
Keeping Europe’s climate policy on track
Samuel Fankhauser looks ahead to December’s climate summit in Paris and argues for a more proactive policy to keep Europe at the forefront of the fight against global warming. read more »
2014
Is climate change a global benefit?
Committee on Climate Change Blog
Climate Challenges
BBC World Service, In the Balance, 28 September 2014: Following the major United Nations climate gathering in New York we ask if the summit’s premise – that economic growth is … read more »
We need a stronger carbon price to justify shale
Professor Samuel Fankhauser examines the policy measures needed to ensure shale gas extraction is commensurate with our wider climate change objectives read more »
Financial markets should take climate policy more seriously
The Conversation
2013
Grantham Research Institute wins Platinum Green Impact award
The Grantham Research Institute has been awarded the prestigious platinum award for its Green Impact sustainability programme. Green Impact is a nationally run programme led by the National Union of Students (NUS), which assesses university departments’ actions to reduce their environmental impact and promote sustainability among staff and students. read more »
New public event: Grantham to join expert panel at annual Oxford student climate change
On 26 January, Institute members Sam Fankhauser and Naomi Hicks will be joining a number of environment experts at the Said Business School to present at the annual Oxford Climate … read more »
2011
Reports spell double trouble for the climate
There have been two sobering climate change statistics recently. First we learnt that despite a sluggish economy, global emissions of carbon dioxide grew by a whopping 6 per cent between 2009 … read more »
Samuel Fankhauser on roundtable discussion on a framework for a sustainable economy
Grantham’s Acting Co-Director, Sam Fankhauser, will be discussion ‘Sustainable economy in 2040: A roadmap for capital market’ as part of a roundtable discussion on the recent Forum for the Future/Aviva … read more »
Green growth: paradigm shift or just spin?
There is much talk at the moment about green growth – environmentally sustainable, biodiverse, low-carbon and climate-resilient growth in human prosperity. Climate & Development Knowledge Network
Fighting climate change in Africa
How can Africa make a meaningful contribution to the global effort against climate change? That was the premise of a recent event here at LSE. Professor Samuel Fankhauser, Co-Director of … read more »
Carbon trading: a good idea is going through a bad patch
Like other commodity markets, the “global” carbon market is in fact a series of smaller, differentiated trading platforms and products, which makes trading carbon both interesting and complex. The European … read more »
China gets serious about curtailing its carbon emissions
Britain’s carbon budgets are domestic emissions objectives, adopted because they make sense for the UK. But climate change is a global problem. Committee on climate change – blog
2009
If It Warms Up, Who's Going to Pay?
Samuel Fankhauser outlines the areas of dispute—as well as possible compromises
Book launch | The economics of climate-resilient development
Professor Sam Fankhauser and Dr Thomas McDermott host a panel debate to launch their new edited volume ‘The Economics of Climate-Resilient Development‘. The panel includes a number of the contributors to the … read more »
Grantham Seminar | Nature and wealth: overcoming environmental scarcity and inequality
Grantham seminar introduced and chaired by Prof. Samuel Fankhauser, Co-Director of the Grantham Research Institute Prof. Edward B. Barbier, John S. Bugas Professor of Economics, Department of Economics and Finance, University … read more »
LSE Executive Summer School | Climate change: economics and governance
This multi-disciplinary five-day course provides an in-depth overview of the economics and governance of climate change, and the risks and opportunities they present for a range of organisations. The course … read more »
VIDEO Public lecture | We'll always have Paris: COP21 and the new political economy of climate change
Michael Jacobs explores both the causes and the consequences of the Paris Agreement in this LSE public lecture. read more »
Grantham Workshop | Outcomes of COP 21 in Paris and implications for the research agenda
Grantham Workshop on 17 February hosts an interactive discussion panel ‘Outcomes of COP 21 in Paris and implications for the research agenda’. Agenda: 1. Overview of the outcomes of Paris and emerging policy questions-Presentation … read more »
2015
Video - Paris and beyond: lecture by World Bank Group VP, Rachel Kyte
World Bank Vice Group President Rachel Kyte looks beyond a potential climate deal at the Paris summit and asks how an orderly transition to zero carbon growth could be managed and financed. read more »
LSE Executive Summer School | Climate change: economics and governance
This multi-disciplinary five-day course provides an in-depth overview of the economics and governance of climate change, and the risks and opportunities they present for a range of organisations. read more »
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 »
2014
Climate Change: Economics and Governance
This multi-disciplinary five-day course provides an in-depth overview of the economics and governance of climate change read more »
2013
Dr James Hansen - Itinerant Farming to White House Arrests: a scientist’s view of the climate crisis
The unfolding human-made climate crisis seems almost surrealistic from a scientific perspective. As knowledge of a climate emergency improves, policies change in ways that exacerbate rather than mitigate the situation. … read more »
Sam Fankhauser - Who Will Win the Green Race?
Speaker: Prof Sam Fankhauser, GRI/LSE read more »
2010
Current Challenges in the Carbon Markets
Current Challenges in the Carbon Markets read more »
2009
Climate Change Policy: why has so little been achieved?
While the scientific evidence for climate change grows, the policy responses have so far had little or no impact on the build-up of emissions. Why does the disconnect between science … read more »
The Economics of Climate-Resilient Development
Some climate change is now inevitable and strategies to adapt to these changes are quickly developing. The question is particularly paramount for low-income countries, which are likely to be most … read more »
