Climate Economics: The State of the Art by Frank Ackerman, Elizabeth A. Stanton

By Frank Ackerman, Elizabeth A. Stanton

Climate technology paints a bleak photo: the ongoing progress of greenhouse gasoline emissions is more and more prone to reason irreversible and catastrophic results. pressing motion is required to organize for the preliminary rounds of climatic switch, that are already unstoppable. whereas the chance to sidestep all weather harm has now handed, well-designed mitigation and version regulations, if followed quick, may possibly nonetheless drastically decrease the possibility of the main tragic and far-reaching affects of weather change.

Climate economics is the bridge among technology and coverage, translating medical predictions approximately actual platforms into projections approximately financial progress and human welfare that call makers can such a lot with ease use however it has too usually consisted of a very technical, educational method of the problem.

Getting weather economics correct isn't approximately publishing the cleverest article of the 12 months yet really approximately assisting remedy the problem of the century. The initiatives forward are daunting, and failure, regrettably, is kind of attainable. higher methods to weather economics will enable economists to join the answer instead of a part of the matter. This e-book analyzes capability paths for improvement.

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5°C of warming would cause losses of less than 2 percent seems incompatible with the projections of serious climate impacts that are expected at that temperature or even lower. 3), bring the possibility of catastrophic damages into the realm of modeling results. This introduces a broader range of uncertainty into the seemingly precise and often surprisingly low monetary estimates of climate damages found in the economics literature. Reduced-form damage functions can be useful for modeling purposes, especially in relatively simple and transparent models – at the level of complexity of DICE, for example – that are often employed in policy analyses.

2009; Diffenbaugh 2009; Leung and Qian 2009). Sea-level rise For most areas of research, AR4 represented the best in scientific knowledge as of 2006, but sea-level-rise projections are an exception. 59 m under the highest-emission A1FI scenario are widely viewed as too conservative (Rahmstorf 2007; Overpeck and Weiss 2009; Allison, Bindoff, et al. 27 In making these projections, the IPCC chose to leave out feedback processes related to ice melt, citing uncertainty of values in the published literature – a decision that essentially negates the contribution of melting ice sheets to future sea-level rise.

Human health will be impacted by malnutrition, water stress, injury in extreme weather events, exposure to ground-level ozone, and increased incidence of certain diseases. Decreased mortality from cold exposure will be outweighed by increased mortality related to rising temperatures. Today, climate change is already increasing the incidence of disease and premature deaths. The communities at greatest risk of the worst climate-related damages are those that live in coastal lowlands, river deltas, or low-lying islands; that rely on climate-sensitive resources; that are in the midst of rapid urbanization; or that have low-income populations.

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