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Selection of climate policies under the uncertainties in the Fifth Assessment Report of the IPCC

Author

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  • L. Drouet

    (Fondazione Eni Enrico Mattei (FEEM), Corso Magenta 63, 20123 Milan, Italy
    Centro Euro-mediterraneo sui Cambiamenti Climatici (CMCC), Corso Magenta 63, 20123 Milan, Italy)

  • V. Bosetti

    (Fondazione Eni Enrico Mattei (FEEM), Corso Magenta 63, 20123 Milan, Italy
    Centro Euro-mediterraneo sui Cambiamenti Climatici (CMCC), Corso Magenta 63, 20123 Milan, Italy
    Bocconi University, Via Sarfatti 25, 20136 Milan, Italy)

  • M. Tavoni

    (Fondazione Eni Enrico Mattei (FEEM), Corso Magenta 63, 20123 Milan, Italy
    Centro Euro-mediterraneo sui Cambiamenti Climatici (CMCC), Corso Magenta 63, 20123 Milan, Italy
    Politecnico di Milano, Via Lambruschini 4/B, 20156 Milan, Italy)

Abstract

A risk assessment framework shows that policymakers’ preferences affect carbon budget choices more than future uncertainties. Such preferences are as important as the much-discussed discount rate.

Suggested Citation

  • L. Drouet & V. Bosetti & M. Tavoni, 2015. "Selection of climate policies under the uncertainties in the Fifth Assessment Report of the IPCC," Nature Climate Change, Nature, vol. 5(10), pages 937-940, October.
    • Handle: RePEc:nat:natcli:v:5:y:2015:i:10:d:10.1038_nclimate2721
    DOI: 10.1038/nclimate2721
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    Citations

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    Cited by:

    1. Giannousakis, Anastasis & Hilaire, Jérôme & Nemet, Gregory F. & Luderer, Gunnar & Pietzcker, Robert C. & Rodrigues, Renato & Baumstark, Lavinia & Kriegler, Elmar, 2021. "How uncertainty in technology costs and carbon dioxide removal availability affect climate mitigation pathways," Energy, Elsevier, vol. 216(C).
    2. Ilke AYDOGAN & Loïc BERGER & Valentina BOSETTI, 2023. "Unraveling Ambiguity Aversion," Working Papers 2023-iRisk-01, IESEG School of Management.
    3. Ana Andries & Stephen Morse & Richard J. Murphy & Emma R. Woolliams, 2023. "Examining Adaptation and Resilience Frameworks: Data Quality’s Role in Supporting Climate Efforts," Sustainability, MDPI, vol. 15(18), pages 1-20, September.
    4. Matteo Giuliani & Andrea Castelletti, 2016. "Is robustness really robust? How different definitions of robustness impact decision-making under climate change," Climatic Change, Springer, vol. 135(3), pages 409-424, April.
    5. Yongyang Cai, 2020. "The Role of Uncertainty in Controlling Climate Change," Papers 2003.01615, arXiv.org, revised Oct 2020.
    6. Loïc Berger & Massimo Marinacci, 2020. "Model Uncertainty in Climate Change Economics: A Review and Proposed Framework for Future Research," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 77(3), pages 475-501, November.
    7. Pal, Preeti & Gopal, P.R.C. & Ramkumar, M., 2023. "Impact of transportation on climate change: An ecological modernization theoretical perspective," Transport Policy, Elsevier, vol. 130(C), pages 167-183.
    8. Loïc Berger & Johannes Emmerling & Massimo Tavoni, 2017. "Managing Catastrophic Climate Risks Under Model Uncertainty Aversion," Management Science, INFORMS, vol. 63(3), pages 749-765, March.
    9. Ilke Aydogan & Loïc Berger & Valentina Bosetti, 2023. "Unraveling Ambiguity Aversion," Post-Print hal-04370668, HAL.
    10. Ren, Xiaohang & Li, Jingyao & He, Feng & Lucey, Brian, 2023. "Impact of climate policy uncertainty on traditional energy and green markets: Evidence from time-varying granger tests," Renewable and Sustainable Energy Reviews, Elsevier, vol. 173(C).
    11. Anil Markandya & Enrica Cian & Laurent Drouet & Josué M. Polanco-Martínez & Francesco Bosello, 2019. "Building Risk into the Mitigation/Adaptation Decisions simulated by Integrated Assessment Models," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(4), pages 1687-1721, December.
    12. Ilke Aydogan & Loïc Berger & Valentina Bosetti, 2023. "Unraveling Ambiguity Aversion," Post-Print hal-04071242, HAL.
    13. Athanasoglou, Stergios & Bosetti, Valentina & Drouet, Laurent, 2017. "A Simple Framework for Climate-Change Policy under Model Uncertainty," MITP: Mitigation, Innovation and Transformation Pathways 254043, Fondazione Eni Enrico Mattei (FEEM).
    14. Julia Reis & Julie Shortridge, 2022. "Robust decision outcomes with induced correlations in climatic and economic parameters," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 27(1), pages 1-23, January.
    15. Charlie Wilson & Céline Guivarch & Elmar Kriegler & Bas Ruijven & Detlef P. Vuuren & Volker Krey & Valeria Jana Schwanitz & Erica L. Thompson, 2021. "Evaluating process-based integrated assessment models of climate change mitigation," Climatic Change, Springer, vol. 166(1), pages 1-22, May.
    16. Gregory Garner & Patrick Reed & Klaus Keller, 2016. "Climate risk management requires explicit representation of societal trade-offs," Climatic Change, Springer, vol. 134(4), pages 713-723, February.
    17. Anil Markandya & Enrica De Cian & Laurent Drouet & Josué M. Polanco-Martìnez & Francesco Bosello, 2016. "Building Uncertainty into the Adaptation Cost Estimation in Integrated Assessment Models," Working Papers 2016.21, Fondazione Eni Enrico Mattei.
    18. repec:hal:wpaper:hal-04071242 is not listed on IDEAS
    19. Gregory Garner & Patrick Reed & Klaus Keller, 2016. "Climate risk management requires explicit representation of societal trade-offs," Climatic Change, Springer, vol. 134(4), pages 713-723, February.
    20. Loic Berger & Massimo Marinacci, 2017. "Model Uncertainty in Climate Change Economics," Working Papers 616, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    21. Baker, Erin & Bosetti, Valentina & Salo, Ahti, 2020. "Robust portfolio decision analysis: An application to the energy research and development portfolio problem," European Journal of Operational Research, Elsevier, vol. 284(3), pages 1107-1120.

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