Cameron Hepburn


News archive

  • 2016

    Energy companies warned against building new power stations – FT

    Energy companies can keep building new coal and gas power stations for only one more year if the world is to avoid dangerous levels of global warming, Oxford university researchers have found. The startling finding dashes the widely-held assumption that climate change is a distant problem that today’s governments can safely leave to their successors. […]

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    Gas industry facing death in zero-carbon future, warns expert

    The natural gas industry has been advised to prepare for a “gloves-off” fight against coal and other fossil fuels to snare its share of the world’s shrinking carbon budget or face its inevitable demise as the world heads towards a zero-carbon future. If the gas industry wants to continue to grow “the gloves need to come […]

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    Climate change will wipe $2.5tn off global financial assets: study – Guardian

    Losses could soar to $24tn and wreck the global economy in worst case scenario, first economic modelling estimate suggest Climate change could cut the value of the world’s financial assets by $2.5tn (£1.7tn), according to the first estimate from economic modelling. In the worst case scenarios, often used by regulators to check the financial health […]

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    Fund managers who ignore climate risk ‘could face legal action’ – Guardian

    Pension and investment fund managers have a duty to reduce the risk global warming poses to the world economy, green law firms warn. In an article published in Nature Covington, Thornton and Oxford University professor of energy economics, Cameron Hepburn, say that investors will be crucial in ensuring the largely voluntary climate change deal sealed […]

  • 2015

    Interview with Marshall Auerback – Economic Growth, Climate Change and Environmental Limits

    Debate about the relationship between environmental limits and economic growth has been taking place for several decades. These arguments have re-emerged with greater intensity following advances in the understanding of the economics of climate change, increases in resource and oil prices and the re-emergence of the discussion about peak oil. Read the rest of the […]

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    Advance Global Australian award for Professor Cameron Hepburn

    Held at the iconic Sydney Opera House on 14 September, The Advance Global Australian Summit and Awards celebrated international Australians who exhibit remarkable talent, exceptional vision and ambition. The Awards are the only of its kind to recognise the contributions of the one million Australians living abroad, and those who have returned home. More information at

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    IdeasLab Presentation at the World Economic Forum’s Annual Meeting 2015 in Davos

    “Our atmosphere is one of the great global commons, and we use it collectively as a sewer.” says Cameron Hepburn from the Institute for New Economic Thinking at the Oxford Martin School. He says climate change remains “the mother of all problems,” and it’s vital we continue to work together for clean and affordable solutions. […]

  • 2014
    International Business Times

    ‘US-China Carbon Deal to Prevent Interstellar Apocalypse’ – International Business Times

    The new Christopher Nolan sci-fi epic Interstellar that depicts the earth on the verge of environmental catastrophe, with a blight wiping out most of the planet’s crops and causing ominous dust storms, might have served as inspiration for US president Barack Obama and his Chinese counterpart Xi Jinping who have surprisingly agreed on a long-term plan to curb CO2 […]

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    IdeasLab Presentation at the 8th Annual Meeting of the New Champions in Tianjin – World Economic Forum

    Oxford Martin School academics lead IdeasLab at World Economic Forum’s ‘Summer Davos’. Four Oxford Martin School academics conducted a lively interactive presentation at the World Economic Forum’s 8th Annual Meeting of the New Champions, held in Tianjin, People’s Republic of China, from 10-12 September 2014. Led by the School’s Director Professor Ian Goldin, they asked: What […]

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    ‘Rain and Bamboo Shoots’ – Philippine Daily Inquirer

    Heavier and more frequent rains are likely to lash the Philippines in the years ahead, according to a joint study by scholars from Oxford University, the Asian Development Bank (ADB) and the Philippine Institute of Development Studies (PIDS).  The study’s authors are the ADB’s Vinod Thomas, PIDS’ Jose Ramon Albert,  and Oxford’s Cameron Hepburn. ….. […]

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    ‘Less Precision, More Truth’ Paper Published in Bank of England Conference Programme

    The Bank of England have published the programme from their April interdisciplinary workshop which was on the role of uncertainty in central bank policy. This features Cameron’s paper, ‘Less precision, more truth: uncertainty in climate economics and macroprudential policy’ which he wrote with Doyne Farmer. You can view the Bank of England complete workshop programme […]

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    INET Sustainability & Wealth with the Government Economic Service – HM Treasury

    Cameron presented a seminar on Wealth at the second ‘Government Economic Service at 50’ Seminar Day at HM Treasury on Friday 18th July. The day consisted of 4 sessions attended by over 200 government economists on the topics of Wealth, Tax Structure and Economic Growth, Pro Bono Economics and finally Science, Innovation and the Economy. Below is […]

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    ’59 economists unite for carbon pricing petition’ – Business Spectator

    Fifty-nine leading economists united today in support of a price and limit on carbon pollution. The group of Australian business and academic economists includes former Liberal Party leader John Hewson, financial sector economist Geoff Weir and Australian professors from universities across the globe. In an open letter they urge all Members of Parliament and senators to work […]

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    ‘Don’t axe the tax: emissions trading supporters make last-ditch plea’ – The Guardian

    Repeal could cost $20bn over next four years and 59 economists insist a carbon price is the best way to reduce emissions. Supporters of emissions trading are making a last-ditch plea to the Senate not to repeal Australia’s laws – citing new analysis that shows “axing the tax” will cost the budget almost $20bn over […]

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    ‘Economists: Price and limit on carbon pollution needed now’ – WWF

    Fifty-nine leading economists united today in support of a price and limit on carbon pollution. In an open letter they urge all Members of Parliament and Senators to work towards lasting agreement on a fair, economically efficient and environmentally effective policy to price and limit carbon emissions … 2014 ECONOMISTS’ OPEN LETTER SUPPORTING A PRICE AND […]

  • Oxford Energy

    3rd Annual Oxford Energy Conference – Mathematical Institute at Oxford University

    Transformative Change in Energy. 17th June 2014 - The Conference brought together high profile alumni from the energy sector, invited friends of Oxford Energy and senior researchers from the University. It addressed transformative technology, market, and policy changes to the global and UK energy industry, including presentations of Oxford’s latest research. You can view Cameron’s presentation for […]

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    Oxford Energy Event – Talk at House of Lords

    Evolution of the Energy Mix. 4th June 2014 – Cameron spoke at an Oxford Energy event held under Chatham House rule at the House of Lords with senior people from government and business. He has also joined a panel discussing the role of the state in the energy markets. The Conference brought together high profile alumni from the […]

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    Climate change – The Economist

    An Offer They Can’t Refuse. ON JUNE 2nd, Barack Obama announced that he wanted total emissions from American power stations to fall by 30% from 2005 levels in the next 15 years. This has (correctly) been interpreted as a potshot at the coal industry. States will have to come up with plans to meet specific emission-reduction targets; […]

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    ‘Incomplete climate models lead to complacency’ – Financial Times

    Letter to the FT – “Incomplete climate models lead to complacency“, April 2. Sir, Richard Tol makes the valid point that action on climate change should be coolly compared with other investments (“Bogus prophecies of doom will not fix the climate”, April 1). But his conclusions rest upon dangerously incomplete economic models that ignore critical risks […]

  • Incomplete climate models lead to complacency – Letter to the FT

    Incomplete climate models lead to complacency Sir Richard Tol makes the valid point that action on climate change should be coolly compared with other investments (“Bogus prophecies of doom will not fix the climate”, April 1). But his conclusions rest upon dangerously incomplete economic models that ignore critical risks and the failure to recognise that […]

  • Nature in the Balance

    “Nature in the Balance” published by OUP

    Oxford University Press publishes “Nature in the Balance: The Economics of Biodiversity”, edited by Dieter Helm and Cameron Hepburn. Get 20% off! The book sets out the building blocks of an economic approach to biodiversity, and in particular brings together conceptual and empirical work on valuation, international agreements, the policy instruments, and the institutions. The […]

  • Postdoctoral Research Fellowship in Climate Policy and Low-Carbon Growth

    Generous funding from Dr Otto Poon has enabled the creation of a 3-year Fellowship on Climate Policy and Low-Carbon Growth at Oxford University, based at INET at the Oxford Martin School and SSEE, working with Professor Cameron Hepburn. Closing date for applications is noon, Jan. 17, 2014.   Job title Otto Poon Postdoctoral Research Fellow in […]

  • 2013

    Prospect – How to overcome the challenges of food security and sustainability?

    by Prospect EditorialDecember 12, 2013.The problem of future food supplies, and the solutions, both from governments and the private sector was debated at a recent Prospect roundtableOn Tuesday 10th December, Prospect held a round table entitled “How to overcome the challenges of food security and sustainability.” This subject was especially timely as the World Trade […]

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    Advance Global Australian Awards – Shortlist

    Cameron has been shortlisted for an Advance Global Australian Award. The Advance Global Australian Awards celebrate Australians living overseas, who exhibit remarkable talent, exceptional vision and ambition. They are the only awards to recognise the important contributions of the more than one million Australians living abroad.  Meet the finalists below. They are inspiring and innovative, […]

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    The Voice of Russia (American Edition) – What’s the future of carbon credits?

    It was seen as the perfect fusion of capitalism and environmentalism. With the difficulty of getting international agreements to curb the rising level of carbon dioxide, it was hoped market credits would do the trick. One carbon credit gives a firm the right to emit one ton of carbon dioxide, and this could be traded […]

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    The Telegraph – Meet 10 powerful women (and men) working part-time

    Plenty of senior people across a range of sectors work part-time and have forged successful careers by doing so. More and more employers are seeing the potential of employing people on a flexible basis, too – for one thing, they will be cheaper to hire but are just as committed to the role.

  • 2012

    Financial Times – Hepburn included on Power Part Time List

    The part-timers are taking over By Alison Maitland Many organisations still see “part-time” as synonymous with junior or middle-ranking roles and modest responsibility and ambition. However, FT Executive Appointments today publishes a list of 50 people at the top of their professions who are working less than a five-day-week. The Power Part Time List, launched […]

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    New Scientist on the economic damages from climate change

    Climate Change already harming the global economy. Climate change now costs more than the emissions cuts that are needed to tackle global warming. If the claims stand up, it boosts the case for urgent action, says Cameron Hepburn of the London School of Economics. “Caps on emissions should be much tighter, and carbon prices much higher, than they are […]

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    BBC R4 Stephanomics interview on growth

    Stephanie Flanders, in discussion with Lord Skidelsky, Cameron Hepburn, and Patrick Minford. asks if the current crisis shows that we should drop long-term economic growth as our principal aim and focus on other ways of achieving well-being and welfare.

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    Interview with Katerina Kimmorley for “The UpSide”

    Will China cause or save the rest of the world from catastrophic climate change? Katerina Kimmorley talks to Dr Cameron Hepburn, Senior Research Fellow at the Grantham Institute.

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    Sydney Morning Herald – The price is right?

    Is Australia’s carbon price too high compared with other major countries, or will it be all right in the end? IT STARTED as just one assertion among many in the most rancorous political debate of recent times. Then at some point it became an assumed wisdom. Stated as fact by host Tony Jones on the […]

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    Interview with Alan Kohler in Business Spectator / Smart Company

    Download junkies just need a bit.   I had fascinating conversations yesterday with two people who are building great businesses by selling what you might call voluntary compliance. Stephen Langsford runs Quickflix, a movie rental service, and Cameron Hepburn is a director of Climate Bridge, a five-year-old Australian start-up that provides carbon credits to those […]

  • 2011

    A better way to price the future takes hold

    SHORT-TERM thinking is a criticism often levelled at corporations and banks by anti-capitalist protesters, and they may well be right. A lack of concern for the future is built mathematically into economic theory, and this carries through to the behaviour of companies and governments. But a different way of putting a financial value on the […]

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    Television Interview with ABC News Australia (Lateline Business)

    Australia lagging on climate action Dr Cameron Hepburn joins Lateline Business to discuss his research, that shows Australia’s response to carbon emissions is behind its trading partners and warns about compensation to trade exposed industry.  

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    Television Interview with ABC News Australia (Lateline Business)

    Climate change expert Dr Cameron Hepburn joins Lateline Business to discuss the effects a carbon trading system could have on Australia’s economy. For video and full transcript, please click here.

  • 2010

    Greening Oz – The Economist

    The government considers a carbon tax EVER since she was elected prime minister six weeks ago, Julia Gillard has been under pressure to restore the ruling Labor Party’s credibility on climate change. Relying on coal to generate about 80% of its electricity makes Australia one of the biggest greenhouse-gas emitters per head. Labor’s decision to […]

  • 2009

    Financial Times – The Economics and Politics of Climate Change

    The Economics and Politics of Climate Change The United Nations Conference on Climate Change in Copenhagen is almost upon us. Preparations for it have attracted unprecedented public debate on climate change and what should be done about it. There is always a long and unsteady bridge between the science underlying a problem and the economics […]

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    Financial Times – Trust me – we have a serious carbon credibility problem

    … The British government has set a binding carbon emissions target for 2050. It is safe to speculate that the present cabinet will be out of office by then. Meanwhile, the government levies a reduced rate of tax on domestic heating and neither new nuclear power stations nor renewable energy look well placed to meet […]

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    Inspiring Green Innovation

    Climate change is going to be high on the agenda as the Group of 8 most industrialised nations meet in Italy this week. It will also hit the headlines in a very large way in December when the United Nations Climate Change Summit is held in Copenhagen, Denmark. However, though there is much agreement that […]

  • 2008

    NewStatesman – World Saved . . . planet doomed

    Green activists are seeing the global economic crisis as an opportunity, but the truth remains: high You could call it the see-saw effect: it has long been an article of political faith that as worries about the economy go up, interest in the environment must go down. It stands to reason: people who are concerned […]

  • 2007

    Lightly carbonated – The Economist

    European companies are not yet taking full advantage of carbon markets IT SOMETIMES seems that plans for emissions trading are piling up even faster than the greenhouse gases they are designed to curb. In late July the first emissions exchanges in Australia and Canada opened, in anticipation of mandatory carbon-trading schemes in both countries. America […]

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    Financial Times – European union should auction most CO2 permits, says study

    European governments should auction most of the permits in the Union’s carbon dioxide emissions trading scheme, according to research by Oxford academics, writes Scheherazade Daneshkhu. A study co-authored by Robert Ritz of Nuffield College, to be presented to the Royal Economic Society’s annual conference next week, said the plan to auction up to 10 per […]

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    Brisbane Times – Striking, but today it might not be built bridge

    SYDNEY might never have got its iconic bridge if public-private partnerships had come to NSW early last century. Private firms would probably have scoffed at a tender to build and run the Harbour Bridge. Even if one had been found, it would have gone broke. That is the conclusion of new economic modelling obtained by […]

  • 2006

    The Guardian – Flying to new green heights

    The pre-budget report is likely to tax low-cost flights, but only international cooperation can solve climate change. Today’s pre-budget report is likely to feature a remarkable event. Gordon Brown may raise the air passenger levy, hitting budget flights to Benidorm and shopping hops to New York. The Daily Mail probably has angry headlines already written. But the […]

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    Financial Times – Climate change also brings opportunities

    There are two ways to look at the expenditure that will be required if the world is to make a serious attempt to curb global warming. As always in the analysis of climate change, there are enormous uncertainties, both about the science and the economics. But calculations set out in a report from Shell Springboard, […]

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    The Telegraph – Green business ‘could be worth $1 trillion’

    New research suggests that global commerce could receive a ($1 trillion) £530bn boost from “green business” over the next five years as concerted international action creates large markets for technologies and products designed to tackle climate change. … Smale and co-author Cameron Hepburn, a Fellow in Climate Policy at Oxford University, have estimated the cost […]

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    The Economist – The heat is on – A survey of climate change

    Dismal calculations The economics of living with climate change or mitigating it SCIENTISTS are better at getting headlines than economists are: doom for the planet makes better copy than cost-benefit analyses. That may be why some economists feel that the issue has been captured by economically illiterate climatologists who do not seem to understand that […]

  • 2005

    BBC R4 – Radio Current Affairs – Analysis – The Tiger or the Tank?

    ANALYSIS THE TIGER OR THE TANK? TRANSCRIPT OF A RECORDED DOCUMENTARY Presenter: Dieter Helm Producer: Simon Coates Editor: Nicola Meyrick Professor Sir David King, Kt., F.R.S., F.R.S.C., Chief Scientific Adviser to H.M. Government, Head of Office of Science & Technology & 1920 Professor of Physical Chemistry, University of Cambridge Cameron Hepburn Elizabeth Wordsworth Junior Research […]

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