Title: Assessing the Benefits and Costs of Climate Change under Uncertainty: The Choice
Abstract:In the Kyoto Protocol, agreed upon by the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) in December 1997, countries committed to reduce their greenhouse gas (GHG) emiss...In the Kyoto Protocol, agreed upon by the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) in December 1997, countries committed to reduce their greenhouse gas (GHG) emissions. Also, the Protocol states that Annex I countries shall undertake promotion, research, development and increased use of new and renewable forms of energy, of carbon dioxide sequestration technologies and of advanced and innovative environmentally sound technologies. It is now established that global climate change poses a threat to the well-being of humans and other living things through impacts on ecosystem functioning, biodiversity, capital productivity, and human health. Climate change economics attends to this issue by offering theoretical insights and empirical findings relevant to the design of policies to reduce, avoid, or adapt to climate change. This economic analysis has yielded new estimates of mitigation benefits, improved understanding of costs in the presence of various market distortions or imperfections, better tools for making policy choices under uncertainty, and alternate mechanisms for allowing flexibility in policy responses. These contributions have influenced the formulation and implementation of a range of climate change policies at the domestic and international levels.
Key Words: climate change, global warming, energyRead More
Publication Year: 2011
Publication Date: 2011-08-31
Language: en
Type: article
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