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Investing into climate change mitigation despite the risk of failure

Author

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  • Mike Farjam

    (Linnaeus University
    Linnaeus University Centre for Data Intensive Sciences, Applications)

  • Olexandr Nikolaychuk

    (Friedrich Schiller University)

  • Giangiacomo Bravo

    (Linnaeus University
    Linnaeus University Centre for Data Intensive Sciences, Applications)

Abstract

In order to convince both policy makers and the general public to engage in climate change mitigation activities, it is crucial to communicate the inherent risks in an effective way. Due to the complexity of the system, mitigation activities cannot completely rule out the possibility of the climate reaching a dangerous tipping point but can only reduce it to some unavoidable residual risk level. We present an online experiment based on a sample of US citizens and designed to improve our understanding of how the presence of such residual risk affects the willingness to invest into climate change mitigation. We found that, far from reducing them, the presence of residual risk actually increases investments into mitigation activities. This result suggests that scientists and policy makers should consider being more transparent about communicating the residual risks entailed by such initiatives.

Suggested Citation

  • Mike Farjam & Olexandr Nikolaychuk & Giangiacomo Bravo, 2019. "Investing into climate change mitigation despite the risk of failure," Climatic Change, Springer, vol. 154(3), pages 453-460, June.
    • Handle: RePEc:spr:climat:v:154:y:2019:i:3:d:10.1007_s10584-019-02454-1
    DOI: 10.1007/s10584-019-02454-1
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    References listed on IDEAS

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    1. Farjam, Mike & Nikolaychuk, Olexandr & Bravo, Giangiacomo, 2019. "Experimental evidence of an environmental attitude-behavior gap in high-cost situations," Ecological Economics, Elsevier, vol. 166(C), pages 1-1.
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    5. Alessandro Tavoni & Astrid Dannenberg & Giorgos Kallis & Andreas L�schel, 2011. "Inequality, communication and the avoidance of disastrous climate change," GRI Working Papers 34, Grantham Research Institute on Climate Change and the Environment.
    6. Astrid Dannenberg & Andreas Löschel & Gabriele Paolacci & Christiane Reif & Alessandro Tavoni, 2015. "On the Provision of Public Goods with Probabilistic and Ambiguous Thresholds," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(3), pages 365-383, July.
    7. Mike Farjam & Olexandr Nikolaychuk & Giangiacomo Bravo, 2018. "Does risk communication really decrease cooperation in climate change mitigation?," Climatic Change, Springer, vol. 149(2), pages 147-158, July.
    8. Matthew J. Hornsey & Emily A. Harris & Kelly S. Fielding, 2018. "Relationships among conspiratorial beliefs, conservatism and climate scepticism across nations," Nature Climate Change, Nature, vol. 8(7), pages 614-620, July.
    9. Scott Barrett & Astrid Dannenberg, 2014. "Sensitivity of collective action to uncertainty about climate tipping points," Nature Climate Change, Nature, vol. 4(1), pages 36-39, January.
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    1. Farjam, Mike & Nikolaychuk, Olexandr & Bravo, Giangiacomo, 2019. "Experimental evidence of an environmental attitude-behavior gap in high-cost situations," Ecological Economics, Elsevier, vol. 166(C), pages 1-1.

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