scholarly journals Taking Time Seriously: Implications for Optimal Climate Policy

2020 ◽  
Author(s):  
Michael Grubb ◽  
Rutger‐Jan Lange ◽  
Nicolas Cerkez ◽  
Pablo Salas ◽  
J-F Mercure ◽  
...  
Keyword(s):  
Climate Policy ◽  
Optimal Climate Policy

scholarly journals Optimal climate policy under the possibility of a catastrophe

1999 ◽  
Vol 21 (3-4) ◽  
pp. 289-317 ◽  
Author(s):  
Jon Gjerde ◽  
Sverre Grepperud ◽  
Snorre Kverndokk
Keyword(s):  
Climate Policy ◽  
Optimal Climate Policy

The design of optimal climate policy with air pollution co-benefits

2012 ◽  
Vol 34 (4) ◽  
pp. 696-722 ◽  
Author(s):  
Nicholas Z. Muller
Keyword(s):  
Air Pollution ◽  
Climate Policy ◽  
Optimal Climate Policy

scholarly journals Optimal Climate Policy for a Pessimistic Social Planner

2014 ◽  
Author(s):  
Edilio Valentini ◽  
Paolo Vitale
Keyword(s):  
Climate Policy ◽  
Social Planner ◽  
Optimal Climate Policy

Improving the decision-making in DICE: self-adaptive climate policies to handle explicit uncertainty and adaptation modelling

2021 ◽  
Author(s):  
Angelo Carlino ◽  
Massimo Tavoni ◽  
Andrea Castelletti
Keyword(s):  
Decision Making ◽  
Climate Policy ◽  
Cost Benefit ◽  
Paris Agreement ◽  
Climate Policies ◽  
New Information ◽  
Optimal Climate Policy ◽  
Adaptive Policies ◽  
Climate Damages ◽  
Self Adaptive

<p>DICE (Dynamic Integrated Climate Economy) and other cost-benefit integrated assessment models are used to study the economically optimal climate policy or to evaluate economic performance of alternative policies, such as 2°C compliant emission trajectories.</p><p>Recently, DICE has been updated to provide economically optimal climate policies keeping global warming in line with the Paris Agreement. Yet, explicit uncertainty and adaptation modelling are still overlooked. Introducing these components requires a transition from the traditional perfect-foresight static decision-making framework to a dynamic one, able to change strategy in order to react to the realization of uncertainties.</p><p>In this work, starting from the updates proposed by Hansel et al. (2020), we present an updated DICE model that: i) explicitly represents adaptation in the form of temporary and long-term adaptation investment; ii) explicitly describes stochastic, parametric and structural uncertainty over the physical and socio-economic components of the model including adaptation efficiency and climate damages specification; iii) leverages self-adaptive control policies to implement a more realistic decision-making scheme that allows to adjust climate policy after that new information arises.</p><p>Results show that the self-adaptive policies allow for a reduction in the discrepancy between economically optimal climate policy and the 2°C temperature target set with the Paris Agreement, which resurfaces when introducing adaptation, also in presence of uncertainty. When using self-adaptive policies, average adaptation costs remain low and, thanks to the ability to modulate adaptation choices depending on the scenario eventually unfolding, also climate damages are maintained at a low level. As a result, more economic resources are made available for mitigation in the short-term resulting in a reduced temperature increase in 2100 for a same level of welfare.</p>

scholarly journals How expensive should CO2 be? Fuel for the political debate on optimal climate policy

Heliyon ◽  
2019 ◽  
Vol 5 (11) ◽  
pp. e02936
Author(s):  
Steven Poelhekke
Keyword(s):  
Climate Policy ◽  
The Political ◽  
Political Debate ◽  
Optimal Climate Policy

scholarly journals The Optimal Climate Policy Portfolio When Knowledge Spills Across Sectors

2010 ◽  
Author(s):  
Emanuele Massetti ◽  
Lea Nicita
Keyword(s):  
Climate Policy ◽  
Optimal Climate Policy

scholarly journals Optimal Climate Policy Under the Possibility of a Catastrophe

1998 ◽  
Author(s):  
Jon Gjerde ◽  
Sverre Grepperud ◽  
Snorre Kverndokk
Keyword(s):  
Climate Policy ◽  
Optimal Climate Policy

scholarly journals The Optimal Climate Policy Portfolio When Knowledge Spills Across Sectors

2010 ◽  
Author(s):  
Emanuele Massetti ◽  
Lea Nicita
Keyword(s):  
Climate Policy ◽  
Optimal Climate Policy
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