Adaptation, Mitigation and “Green” R&D to Combat Global Climate Change. Insights From an Empirical Integrated Assessment Exercise
This work develops a framework for the analysis at the macro-level of the relationship between adaptation and mitigation policies. The FEEM-RICE growth model with stock pollution, endogenous R&D investment and emission abatement is enriched with a planned-adaptation module where a defensive capital stock is built through adaptation investment. Within this framework the optimal path of planned adaptation, the optimal inter and intra temporal mix between adaptation, mitigation and investment in R&D, and the sensitivity of a strategy to each other is identified. The major conclusions of this research show that adaptation, mitigation and R&D are strategic complements as all concur together to the solution of the climate change problem; nonetheless the possibility to adapt reduces the need to mitigate and partly crowds out other forms of investment like those in R&D. The optimal intertemporal distribution of strategies is also described: it requires to anticipate mitigation effort that should start already when climate damages are low and postpone adaptation intervention until they are substantial. Thus the possibility to adapt is not a justification to delay abatement activities. A sensitivity analysis demonstrates the robustness of these results to different parameterizations, in particular to changes in expected climate-change damages and in the discount rates.
|Date of creation:||Feb 2010|
|Contact details of provider:|| Postal: Corso Magenta, 63 - 20123 Milan|
Web page: http://www.feem.it/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bosello, Francesco & Roson, Roberto & Tol, Richard S.J., 2006.
"Economy-wide estimates of the implications of climate change: Human health,"
Elsevier, vol. 58(3), pages 579-591, June.
- Francesco Bosello & Roberto Roson & Richard S.J. Tol, 2004. "Economy-Wide Estimates Of The Implications Of Climate Change: Human Health," Working Papers FNU-57, Research unit Sustainability and Global Change, Hamburg University, revised Dec 2004.
- Francesco Bosello & Roberto Roson & Richard S.J. Tol, 2005. "Economy-Wide Estimates of the Implications of Climate Change: Human Health," Working Papers 2005.97, Fondazione Eni Enrico Mattei.
- Francesco Bosello & Roberto Roson & Richard Tol, 2007. "Economy-wide Estimates of the Implications of Climate Change: Sea Level Rise," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 37(3), pages 549-571, July.
- Roberto Roson & Francesco Bosello & Marco Lazzarin & Richard S.J. Tol, 2004. "Economy-Wide Estimates of the Implications of Climate Change: Sea Level Rise," Working Papers 2004.96, Fondazione Eni Enrico Mattei.
- Francesco Bosello & Roberto Roson & Richard S.J. Tol, 2004. "Economy-Wide Estimates Of The Implications Of Climate Change: Sea Level Rise," Working Papers FNU-38, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2004.
- Tol, Richard S.J., 2005. "Emission abatement versus development as strategies to reduce vulnerability to climate change: an application of FUND," Environment and Development Economics, Cambridge University Press, vol. 10(05), pages 615-629, October.
- Richard S.J. Tol, 2002. "Emission Abatement Versus Development As Strategies To Reduce Vulnerability To Climate Change: An Application Of Fund," Working Papers FNU-12, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2002.
- Kelly C. de Bruin & Rob B. Dellink & Richard S.J. Tol, 2007. "AD-DICE: an implementation of adaptation in the DICE model," Working Papers FNU-126, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2007.
- Kelly C. de Bruin & Rob B. Dellink & Richard S.J. Tol, 2007. "AD-DICE: An Implementation of Adaptation in the DICE Mode," Working Papers 2007.51, Fondazione Eni Enrico Mattei.
- Hope, Chris & Anderson, John & Wenman, Paul, 1993. "Policy analysis of the greenhouse effect : An application of the PAGE model," Energy Policy, Elsevier, vol. 21(3), pages 327-338, March. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:fem:femwpa:2010.22. 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: (barbara racah)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.