Non-fossil Renewable Energy

Economics of Mitigating Climate Change


Economics of mitigating and adapting to climate change

Go to "What You Can Do" to see how to help mitigate climate change and global warming.

Below are some resources for the economics of mitigation and adaptation. 

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IPCC Mitigation 2007 Report

 

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Stern Review on the Economics of Climate Change

Background (Wikipedia)

Summary of the Review's main conclusions:

  • The benefits of strong, early action on climate change outweigh the costs.

  • The scientific evidence points to increasing risks of serious, irreversible impacts from climate change associated with business-as-usual (BAU) paths for emissions.

  • Climate change threatens the basic elements of life for people around the world — access to water, food production, health, and use of land and the environment.

  • The impacts of climate change are not evenly distributed — the poorest countries and people will suffer earliest and most. And if and when the damages appear it will be too late to reverse the process. Thus we are forced to look a long way ahead.

  • Climate change may initially have small positive effects for a few developed countries, but it is likely to be very damaging for the much higher temperature increases expected by mid-to-late century under BAU scenarios.

  • Integrated assessment modelling provides a tool for estimating the total impact on the economy; our estimates suggest that this is likely to be higher than previously suggested.

  • Emissions have been, and continue to be, driven by economic growth; yet stabilisation of greenhouse gasconcentration in the atmosphere is feasible and consistent with continued growth.

  • Central estimates of the annual costs of achieving stabilisation between 500 and 550ppm CO2e are around 1% of global GDP, if we start to take strong action now. [...] It would already be very difficult and costly to aim to stabilise at 450ppm CO2e. If we delay, the opportunity to stabilise at 500-550ppm CO2e may slip away.'

  • The transition to a low-carbon economy will bring challenges for competitiveness but also opportunities for growth. Policies to support the development of a range of low-carbon and high-efficiency technologies are required urgently.

  • Establishing a carbon price, through tax, trading or regulation, is an essential foundation for climate change policy. Creating a broadly similar carbon price signal around the world, and using carbon finance to accelerate action in developing countries, are urgent priorities for international cooperation.

  • Adaptation policy is crucial for dealing with the unavoidable impacts of climate change, but it has been under-emphasised in many countries.

  • An effective response to climate change will depend on creating the conditions for international collective action.

  • There is still time to avoid the worst impacts of climate change if strong collective action starts now.

 

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Johns Hopkins / Center for Climate Strategies Report

Washington, DC, July 22, 2010 — New greenhouse gas emissions and energy policies at the federal level could generate as many as 2.5 million new jobs and $134 billion in economic activity in the U.S. while keeping energy costs down, according to a new report from the Center for Climate Strategies, published with Johns Hopkins University...

This report can be viewed in full at http://energypolicyreport.jhu.edu

 

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Building a Green Economy

By PAUL KRUGMAN; Published: April 5, 2010, NY Times

 

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Glossary

Citation

Dash, J. (2011). Economics of Mitigating Climate Change. Retrieved from http://climate.uu-uno.org/view/article/145705

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