IDEAS home Printed from https://ideas.repec.org/a/cup/endeec/v22y2017i06p658-673_00.html
   My bibliography  Save this article

Depletion of the global carbon budget: a user cost approach

Author

Listed:
  • Barbier, Edward B.
  • Burgess, Joanne C.

Abstract

The Fifth IPCC Assessment Report estimates the world's ‘carbon budget’, which is the cumulative amount of anthropogenic CO2 emissions limiting global warming below 2°C. We model this carbon budget as a resource asset depleted by annual GHG emissions, and estimate the user cost associated with depletion. For constant emissions, social welfare increases US$3.3 trillion (6 per cent of global GDP) over the business as usual scenario of growing emissions, and the carbon budget's lifetime increases from 18 to 21 years. For declining emissions, the gain is US$10.4 trillion (19 per cent of global GDP), and the budget's lifetime is 30 years. Extending indefinitely the lifetime of the carbon budget would require emissions to fall exponentially by 4.8 per cent or more. Although the Paris Agreement abatement pledges will generate social gains of US$2–2.5 trillion (4–5 per cent of world GDP), they are insufficient to prevent depletion of the 2°C global carbon budget by 2030.

Suggested Citation

  • Barbier, Edward B. & Burgess, Joanne C., 2017. "Depletion of the global carbon budget: a user cost approach," Environment and Development Economics, Cambridge University Press, vol. 22(6), pages 658-673, December.
  • Handle: RePEc:cup:endeec:v:22:y:2017:i:06:p:658-673_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1355770X17000055/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Edward B. Barbier & Joanne C. Burgess, 2017. "Natural Resource Economics, Planetary Boundaries and Strong Sustainability," Sustainability, MDPI, Open Access Journal, vol. 9(10), pages 1-12, October.
    2. Frederick Ploeg, 2018. "The safe carbon budget," Climatic Change, Springer, vol. 147(1), pages 47-59, March.
    3. Halkos, George & Matsiori, Steriani, 2017. "Environmental attitude, motivations and values for marine biodiversity protection," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 69(C), pages 61-70.
    4. Edward B. Barbier & Joanne C. Burgess, 2019. "Scarcity and Safe Operating Spaces: The Example of Natural Forests," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(3), pages 1077-1099, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:endeec:v:22:y:2017:i:06:p:658-673_00. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters). General contact details of provider: https://www.cambridge.org/ede .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.