3.3.6.1 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.

Note: The red box shows the range between the 25^th and 75^th percentile of the scenarios for each price range. EECCA= Countries of Eastern Europe, the Caucasus and Central Asia.