Valuing Climate Damages
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Valuing Climate Damages
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Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher: National Academies Press
Release Date : 2017-06-23
Valuing Climate Damages written by National Academies of Sciences, Engineering, and Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-23 with Science categories.
The social cost of carbon (SC-CO2) is an economic metric intended to provide a comprehensive estimate of the net damages - that is, the monetized value of the net impacts, both negative and positive - from the global climate change that results from a small (1-metric ton) increase in carbon-dioxide (CO2) emissions. Under Executive Orders regarding regulatory impact analysis and as required by a court ruling, the U.S. government has since 2008 used estimates of the SC-CO2 in federal rulemakings to value the costs and benefits associated with changes in CO2 emissions. In 2010, the Interagency Working Group on the Social Cost of Greenhouse Gases (IWG) developed a methodology for estimating the SC-CO2 across a range of assumptions about future socioeconomic and physical earth systems. Valuing Climate Changes examines potential approaches, along with their relative merits and challenges, for a comprehensive update to the current methodology. This publication also recommends near- and longer-term research priorities to ensure that the SC- CO2 estimates reflect the best available science.
Valuing Climate Change
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Author : Samuel Fankhauser
language : en
Publisher: Routledge
Release Date : 2013-10-11
Valuing Climate Change written by Samuel Fankhauser and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-11 with Business & Economics categories.
Within only a few years, global warming has emerged from scientific speculation into an environmental threat of worldwide concern. Yet the scientific community remains uncertain as to the long-term trends and effects of climate change, and this uncertainty has been seized on as justification for inaction by an international community reluctant to bear the costs of policies to reduce greenhouse gas emissions. Valuing Climate Change presents concrete, economic evidence of the need for action. Fankhauser assesses the costs of a doubling of GHG emissions to be a significant percentage of gross world product; a figure which he then compares to the costs of reducing emissions. In his comparison, he looks at regional as well as global estimates of damage, and takes account of the non-climate change benefits of GHG reductions, such as a switch in the energy sector to cleaner technologies or renewable fuels, and the impacts on transport, with reduced congestion and improved air quality. It is clear that the stakes are high, and Fankhauser believes that tougher targets may be needed than those set out in the Framework Convention on Climate Change. He assesses the optimum policy responses to GHG reduction, the likely instruments for achieving it and the potential for international cooperation in dealing with the problems. This is a major contribution to the rapidly changing debate on global warming.
Climate Risk
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Author : Bob Litterman
language : en
Publisher: Wiley
Release Date : 2021-05-25
Climate Risk written by Bob Litterman and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-25 with Business & Economics categories.
Climate change is fundamentally a risk management problem Climate Risk examines climate change as a risk management issue, detailing the problems inherent in that necessary but complex perspective. Written by a recognized risk management leader, this book details the impact of climate change on both the current economy, and the economy of future generations. Drawing on the insight of a team of Nobel Prize-winning economists, this informative book outlines the factors that make it difficult to price carbon emissions correctly, discusses the perspectives surrounding carbon emission taxation, and explores the probability of various climate change scenarios in the context of damages and valuation. Readers will find detailed arguments for why risk managers should already be taking climate change seriously, and delve into the economic analysis of this global problem. Pricing climate risk properly is key to making the economy work long-term while also being mindful of the potential tail risk and uncertainty that humans often ignore. People are not very good at making rational decisions about rare outcomes, raising the concern of an overreaction when society finally does react to the risk of climate catastrophe and begins to price it. This book explores the critical question of how much climate risk insurance to buy – that is, where to price carbon dioxide emissions. Examine climate change as a risk management problem Delve into the issues surrounding carbon emission pricing Consider appropriate tax levels for emissions Learn how the future economy will be impacted by climate change Damages from climate change won't hit the economy for a while, and the potential for a low-probability/high-damage scenario is so uncertain that it is only recently being discussed academically. Risk managers must be prepared for what's to come, and Climate Risk begins the conversation with some of the best minds in the industry.
Hidden Costs Of Energy
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2010-06-26
Hidden Costs Of Energy written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-26 with Science categories.
Despite the many benefits of energy, most of which are reflected in energy market prices, the production, distribution, and use of energy causes negative effects. Many of these negative effects are not reflected in energy market prices. When market failures like this occur, there may be a case for government interventions in the form of regulations, taxes, fees, tradable permits, or other instruments that will motivate recognition of these external or hidden costs. The Hidden Costs of Energy defines and evaluates key external costs and benefits that are associated with the production, distribution, and use of energy, but are not reflected in market prices. The damage estimates presented are substantial and reflect damages from air pollution associated with electricity generation, motor vehicle transportation, and heat generation. The book also considers other effects not quantified in dollar amounts, such as damages from climate change, effects of some air pollutants such as mercury, and risks to national security. While not a comprehensive guide to policy, this analysis indicates that major initiatives to further reduce other emissions, improve energy efficiency, or shift to a cleaner electricity generating mix could substantially reduce the damages of external effects. A first step in minimizing the adverse consequences of new energy technologies is to better understand these external effects and damages. The Hidden Costs of Energy will therefore be a vital informational tool for government policy makers, scientists, and economists in even the earliest stages of research and development on energy technologies.
Itf Research Reports Adapting Transport Policy To Climate Change Carbon Valuation Risk And Uncertainty
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Author : International Transport Forum
language : en
Publisher: OECD Publishing
Release Date : 2015-11-24
Itf Research Reports Adapting Transport Policy To Climate Change Carbon Valuation Risk And Uncertainty written by International Transport Forum and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-24 with categories.
Transport accounts for nearly a quarter of anthropogenic carbon dioxide emissions. The price attached to these emissions is critical to climate policies and emissions mitigation efforts in the sector. As the impact of emissions on climate does not depend on where CO2 is released, the price of ...
Assessment Of Approaches To Updating The Social Cost Of Carbon
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Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher: National Academies Press
Release Date : 2016-02-26
Assessment Of Approaches To Updating The Social Cost Of Carbon written by National Academies of Sciences, Engineering, and Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-26 with Science categories.
The social cost of carbon (SCC) for a given year is an estimate, in dollars, of the present discounted value of the damage caused by a 1-metric ton increase in CO2 emissions into the atmosphere in that year; or equivalently, the benefits of reducing CO2 emissions by the same amount in that given year. The SCC is intended to provide a comprehensive measure of the monetized value of the net damages from global climate change from an additional unit of CO2, including, but not limited to, changes in net agricultural productivity, energy use, human health effects, and property damages from increased flood risk. Federal agencies use the SCC to value the CO2 emissions impacts of various policies including emission and fuel economy standards for vehicles, regulations of industrial air pollutants from industrial manufacturing, emission standards for power plants and solid waste incineration, and appliance energy efficiency standards. There are significant challenges to estimating a dollar value that reflects all the physical, human, ecological, and economic impacts of climate change. Recognizing that the models and scientific data underlying the SCC estimates evolve and improve over time, the federal government made a commitment to provide regular updates to the estimates. To assist with future revisions of the SCC, the Interagency Working Group on the Social Cost of Carbon (IWG) requested the National Academies of Sciences, Engineering, and Medicine complete a study that assessed the merits and challenges of a limited near-term update to the SCC and of a comprehensive update of the SCC to ensure that the estimates reflect the best available science. This interim report focuses on near-term updates to the SCC estimates.
Valuing The Environment
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Author : Raino Malnes
language : en
Publisher: Manchester University Press
Release Date : 1995
Valuing The Environment written by Raino Malnes and has been published by Manchester University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Environmental policy categories.
Addresses the dilemma of choosing either to allow an activity that damages the environment and erodes people's standard of living, or to prohibit and so threaten other people's livelihood and so erode their standard of living. Taking climate policy as a case study, shows how choosing between the interests of two groups, one of which is often not born yet, is complicated by different assessments of environmental damage and impact of the quality of life. Concludes with a set of guidelines for dealing with such dilemmas. Distributed in the US by St. Martin's Press. Annotation copyright by Book News, Inc., Portland, OR
A Question Of Balance
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Author : William Nordhaus
language : en
Publisher: Yale University Press
Release Date : 2008-06-24
A Question Of Balance written by William Nordhaus and has been published by Yale University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-24 with Nature categories.
As scientific and observational evidence on global warming piles up every day, questions of economic policy in this central environmental topic have taken center stage. But as author and prominent Yale economist William Nordhaus observes, the issues involved in understanding global warming and slowing its harmful effects are complex and cross disciplinary boundaries. For example, ecologists see global warming as a threat to ecosystems, utilities as a debit to their balance sheets, and farmers as a hazard to their livelihoods. In this important work, William Nordhaus integrates the entire spectrum of economic and scientific research to weigh the costs of reducing emissions against the benefits of reducing the long-run damages from global warming. The book offers one of the most extensive analyses of the economic and environmental dynamics of greenhouse-gas emissions and climate change and provides the tools to evaluate alternative approaches to slowing global warming. The author emphasizes the need to establish effective mechanisms, such as carbon taxes, to harness markets and harmonize the efforts of different countries. This book not only will shape discussion of one the world’s most pressing problems but will provide the rationales and methods for achieving widespread agreement on our next best move in alleviating global warming.
Valuing Climate Change Mitigation
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Author : Sonia Akter
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012
Valuing Climate Change Mitigation written by Sonia Akter and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
This enriching book presents a holistic overview of climate change uncertainty and offers a number of pathways that could be used to account for such uncertainties in the stated preference valuation research. It shows that uncertainty plays an important role in determining the values of climate change mitigation benefits and, as the authors say, 'If this uncertainty remains unaccounted for, there is a potential danger that the estimated economic values will misrepresent social preferences for public policy interventions to manage environmental externalities.'Valuing Climate Change Mitigation discusses the role of uncertainty in valuing the benefits of climate change mitigation policies using contingent valuation and choice experiment techniques. It treats climate change using three dimensions of uncertainty: scenario, policy and preference. Conceptual frameworks are advanced to account simultaneously for these various dimensions of uncertainty. The authors then explore the impact of introducing these uncertainties into benefit estimates for the Australian Carbon Pollution Reduction Scheme.The authors present frameworks to account for multiple uncertainty in environmental decision analysis that will prove invaluable for academics and students in the fields of environmental economics and management. Policy makers will also gain invaluable methodological insight.
Loss And Damage From Climate Change
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Author : Reinhard Mechler
language : en
Publisher: Springer
Release Date : 2018-11-28
Loss And Damage From Climate Change written by Reinhard Mechler and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-28 with Science categories.
This book provides an authoritative insight on the Loss and Damage discourse by highlighting state-of-the-art research and policy linked to this discourse and articulating its multiple concepts, principles and methods. Written by leading researchers and practitioners, it identifies practical and evidence-based policy options to inform the discourse and climate negotiations. With climate-related risks on the rise and impacts being felt around the globe has come the recognition that climate mitigation and adaptation may not be enough to manage the effects from anthropogenic climate change. This recognition led to the creation of the Warsaw International Mechanism on Loss and Damage in 2013, a climate policy mechanism dedicated to dealing with climate-related effects in highly vulnerable countries that face severe constraints and limits to adaptation. Endorsed in 2015 by the Paris Agreement and effectively considered a third pillar of international climate policy, debate and research on Loss and Damage continues to gain enormous traction. Yet, concepts, methods and tools as well as directions for policy and implementation have remained contested and vague. Suitable for researchers, policy-advisors, practitioners and the interested public, the book furthermore: • discusses the political, legal, economic and institutional dimensions of the issue• highlights normative questions central to the discourse • provides a focus on climate risks and climate risk management. • presents salient case studies from around the world.