Counting Only the Hits? The Risk of Underestimating the Costs of Stringent Climate Policy
AbstractThis paper warns against the risk of underestimating the costs -and the uncertainty about the costs- of achieving stringent stabilization targets. We argue that a straightforward review of integrated assessment models results produces biased estimates for the more ambitious climate objectives such as those compatible with the 2°C of the European Union and the G8. The magnitude and range of estimates are significantly reduced because only the most optimistic results are reported for such targets. We suggest a procedure that addresses this partiality. The results show highly variable costs for the most difficult scenarios.
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Bibliographic InfoPaper provided by Economic and Social Research Institute (ESRI) in its series Papers with number WP324.
Date of creation: Oct 2009
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-21 (All new papers)
- NEP-ENE-2009-11-21 (Energy Economics)
- NEP-ENV-2009-11-21 (Environmental Economics)
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