Prof. Samuel Fankhauser

Co-Director

Sam was appointed Deputy Director of the Grantham Research Institute in December 2010 and became a Co-Director in March 2011. Before this, he was a Principal Research Fellow for the Institute.

Sam is also a member of the UK Committee on Climate Change, an independent body that advises the UK government on carbon targets, as well as the CCC’s Adaptation Sub-Committee. He is also a director at Vivid Economics.

Background

Sam has been involved in climate change economics and policy for over 20 years. He is a former Deputy Chief Economist at the European Bank for Reconstruction and Development (EBRD), and served on the 1995, 2001 and 2007 assessments of the Intergovernmental Panel on Climate Change (IPCC).

Sam studied economics at the University of Berne and LSE, and holds a PhD from 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.

Forthcoming speaking enagements:

2nd European Shale Gas and Oil Summit 2014
29-30 September, London
Check external website for event details

British Institute of Energy Economics – 10th Academic Conference
September 17th – 18th 2014 – Oxford
Check external website for event details

Research article  29 May, 2014

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 »

japanase_parliament
Working paper  1 April, 2014

What drives 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

Research article  12 October, 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 »

Working paper  1 September, 2013

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 »

Working paper  1 August, 2013

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 »

Research article  25 April, 2013

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

Working paper  1 November, 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

Research article  20 October, 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|

Research article  19 October, 2011

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 »

Research article  19 September, 2011

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.

Research article  23 May, 2011

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 »

Working paper  1 February, 2011

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 »

Research article  20 January, 2011

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 »

Working paper  1 January, 2011

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

Research article  18 December, 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 »

Research article  18 September, 2010

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 »

Research article  19 August, 2010

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 »

Research article  18 August, 2010

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 »

Research article  18 August, 2010

Designing carbon markets. Part II: carbon markets in space

Designing carbon markets read more »

Research article  19 July, 2010

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 »

Research article  18 January, 2010

The costs of adaptation

The costs of adaptation read more »

Research article  18 January, 2010

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

Working paper  1 November, 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 »

Working paper  1 September, 2009

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 »

Working paper  1 July, 2009

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 »

Working paper  1 June, 2009

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 »

Working paper  1 May, 2009

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

Research article  17 March, 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 »

More in research publications

UK_globe_pin
Policy paper  18 March, 2014

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 »

Policy report  1 February, 2014

The GLOBE climate legislation study: a review of climate change legislation in 66 countries

The GLOBE Climate Legislation Study is the most comprehensive audit of climate legislation across 66 countries, together responsible for around 88% of global manmade greenhouse gas emissions. It is produced by … read more »

Policy paper  1 February, 2014

Non-economic losses in the context of the UNFCCC work programme on loss and damage

Sam Fankhauser, Simon Dietz and Phillip Gradwell

2013

FloodDepthMarker
Policy report  14 November, 2013

Flood insurance and the Water Bill

Through the Water Bill, the Government is seeking powers to establish a new scheme for the provision of flood insurance. The proposed scheme, Flood Re, offers … read more »

Policy report  4 November, 2013

Energy use policies and carbon pricing in the UK

Energy use policies and carbon pricing in the UK read more »

CanaryWharfTrees
Policy paper  1 November, 2013

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 »

Policy report  1 March, 2013

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 »

Policy report  20 January, 2013

The GLOBE Climate Legislation Study: a review of climate change legislation in 33 countries

Terry Townshend, Sam Fankhauser, Rafael Aybar, Murray Collins, Tucker Landesman, Michal Nachmany and Carolina Pavese [Eds.]), third Edition – External link to publication

2012


Policy paper  1 June, 2012

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 »

Policy paper  1 January, 2012

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

Policy paper  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

2010

Policy report  1 September, 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 »

Policy paper  1 February, 2010

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 »

Policy paper  1 February, 2010

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

Policy report  1 February, 2009

An outline of the case for a 'green' stimulus

Alex Bowen, Samuel Fankhauser, Nicholas Stern and Dimitri Zenghelis  

More in policy publications

Sam_Fankhauser_web
In the news  29 September, 2014

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 »

In the news  15 July, 2014

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 »

In the news  19 March, 2014

Financial markets should take climate policy more seriously

The Conversation

2013

Grantham Research Institute wins Platinum Green Impact award
Announcement  20 May, 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 »

Announcement  14 January, 2013

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

Commentary  21 November, 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 »

Announcement  20 October, 2011

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 »

Commentary  26 August, 2011

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

Commentary  6 June, 2011

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 »

Commentary  15 April, 2011

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 »

Commentary  28 March, 2011

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

Commentary  6 December, 2009

If It Warms Up, Who's Going to Pay?

Samuel Fankhauser outlines the areas of dispute—as well as possible compromises

More in news

LSE Executive Summer School 23 Jun 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

Judith Rees and Vivienne Westwood in the audience
Public Lectures 16 May 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 »

Research Seminar Series 13 Feb 2013

Sam Fankhauser - Who Will Win the Green Race?

Speaker: Prof Sam Fankhauser, GRI/LSE read more »

2010

Grantham Workshop, Policy Seminars 2 Nov 2010

Current Challenges in the Carbon Markets

Current Challenges in the Carbon Markets read more »

2009

Policy Seminars 27 Oct 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 »

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