IDEAS home Printed from https://ideas.repec.org/p/fem/femwpa/2017.57.html
   My bibliography  Save this paper

Optimal Carbon Dioxide Removal in Face of Ocean Carbon Sink Feedback

Author

Listed:
  • Vassiliki Manoussi

    (FEEM and CMCC)

  • Soheil Shayegh

    (FEEM and CMCC)

  • Massimo Tavoni

    (FEEM and Politecnico di Milano)

Abstract

Carbon dioxide removal (CDR) is a potentially important climate strategy for attaining low climate stabilization objectives. However, climate analysis has indicated a possible weakening of the ocean carbon sinks -the largest in the world- in relation to CDR deployment. Here, we provide an economic appraisal to assess the sensitivity of CDR and conventional abatement to CO2 outgassing from the oceans. We develop a theoretical framework to study the impact of the ocean-to-atmosphere transfer on the optimal mitigation strategies under different regimes that control the relationship between CO2 outgassing and the amount of CDR. We show that the optimal levels of emissions and CDR are correlated to the effectiveness of CDR expressed as a linear function of atmospheric concentrations. We incorporate this effect into an integrated assessment model of climate and economy (DICE model) and confirm the theoretical findings with numerical simulations. Further, we perform a sensitivity analysis to find the range of optimal abatement and CDR actions under different values of the CDR effectiveness coefficient.

Suggested Citation

  • Vassiliki Manoussi & Soheil Shayegh & Massimo Tavoni, 2017. "Optimal Carbon Dioxide Removal in Face of Ocean Carbon Sink Feedback," Working Papers 2017.57, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2017.57
    as

    Download full text from publisher

    File URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2017-057.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Heutel, Garth & Moreno-Cruz, Juan & Shayegh, Soheil, 2018. "Solar geoengineering, uncertainty, and the price of carbon," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 24-41.
    2. Luke M. Brander & Katrin Rehdanz & Richard S. J. Tol & Pieter J. H. Van Beukering, 2012. "The Economic Impact Of Ocean Acidification On Coral Reefs," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 3(01), pages 1-29.
    3. Sabine Fuss & Josep G. Canadell & Glen P. Peters & Massimo Tavoni & Robbie M. Andrew & Philippe Ciais & Robert B. Jackson & Chris D. Jones & Florian Kraxner & Nebosja Nakicenovic & Corinne Le Quéré & , 2014. "Betting on negative emissions," Nature Climate Change, Nature, vol. 4(10), pages 850-853, October.
    4. Elmar Kriegler & Ioanna Mouratiadou & Gunnar Luderer & Nico Bauer & Robert J. Brecha & Katherine Calvin & Enrica Cian & Jae Edmonds & Kejun Jiang & Massimo Tavoni & Ottmar Edenhofer, 2016. "Will economic growth and fossil fuel scarcity help or hinder climate stabilization?," Climatic Change, Springer, vol. 136(1), pages 7-22, May.
    5. Nordhaus, William D, 1993. "Optimal Greenhouse-Gas Reductions and Tax Policy in the "Dice" Model," American Economic Review, American Economic Association, vol. 83(2), pages 313-317, May.
    6. Elmar Kriegler & John Weyant & Geoffrey Blanford & Volker Krey & Leon Clarke & Jae Edmonds & Allen Fawcett & Gunnar Luderer & Keywan Riahi & Richard Richels & Steven Rose & Massimo Tavoni & Detlef Vuu, 2014. "The role of technology for achieving climate policy objectives: overview of the EMF 27 study on global technology and climate policy strategies," Climatic Change, Springer, vol. 123(3), pages 353-367, April.
    7. J. Pongratz & D. B. Lobell & L. Cao & K. Caldeira, 2012. "Crop yields in a geoengineered climate," Nature Climate Change, Nature, vol. 2(2), pages 101-105, February.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Jérôme Hilaire & Jan C. Minx & Max W. Callaghan & Jae Edmonds & Gunnar Luderer & Gregory F. Nemet & Joeri Rogelj & Maria Mar Zamora, 2019. "Negative emissions and international climate goals—learning from and about mitigation scenarios," Climatic Change, Springer, vol. 157(2), pages 189-219, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Heutel, Garth & Moreno-Cruz, Juan & Shayegh, Soheil, 2016. "Climate tipping points and solar geoengineering," Journal of Economic Behavior & Organization, Elsevier, vol. 132(PB), pages 19-45.
    2. Carl-Friedrich Schleussner & Joeri Rogelj & Michiel Schaeffer & Tabea Lissner & Rachel Licker & Erich M. Fischer & Reto Knutti & Anders Levermann & Katja Frieler & William Hare, 2016. "Science and policy characteristics of the Paris Agreement temperature goal," Nature Climate Change, Nature, vol. 6(9), pages 827-835, September.
    3. Ajay Gambhir & Laurent Drouet & David McCollum & Tamaryn Napp & Dan Bernie & Adam Hawkes & Oliver Fricko & Petr Havlik & Keywan Riahi & Valentina Bosetti & Jason Lowe, 2017. "Assessing the Feasibility of Global Long-Term Mitigation Scenarios," Energies, MDPI, vol. 10(1), pages 1-31, January.
    4. Joseph E. Aldy & Richard Zeckhauser, 2020. "Three prongs for prudent climate policy," Southern Economic Journal, John Wiley & Sons, vol. 87(1), pages 3-29, July.
    5. Heutel, Garth & Moreno-Cruz, Juan & Shayegh, Soheil, 2018. "Solar geoengineering, uncertainty, and the price of carbon," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 24-41.
    6. Gunnar Luderer & Zoi Vrontisi & Christoph Bertram & Oreane Y. Edelenbosch & Robert C. Pietzcker & Joeri Rogelj & Harmen Sytze Boer & Laurent Drouet & Johannes Emmerling & Oliver Fricko & Shinichiro Fu, 2018. "Residual fossil CO2 emissions in 1.5–2 °C pathways," Nature Climate Change, Nature, vol. 8(7), pages 626-633, July.
    7. P. A. Turner & C. B. Field & D. B. Lobell & D. L. Sanchez & K. J. Mach, 2018. "Unprecedented rates of land-use transformation in modelled climate change mitigation pathways," Nature Sustainability, Nature, vol. 1(5), pages 240-245, May.
    8. Florian Leblanc & Ruben Bibas & Silvana Mima & Matteo Muratori & Shogo Sakamoto & Fuminori Sano & Nico Bauer & Vassilis Daioglou & Shinichiro Fujimori & Matthew J. Gidden & Estsushi Kato & Steven K. R, 2022. "The contribution of bioenergy to the decarbonization of transport: a multi-model assessment," Climatic Change, Springer, vol. 170(3), pages 1-21, February.
    9. van Sluisveld, Mariësse A.E. & Hof, Andries F. & Carrara, Samuel & Geels, Frank W. & Nilsson, Måns & Rogge, Karoline & Turnheim, Bruno & van Vuuren, Detlef P., 2020. "Aligning integrated assessment modelling with socio-technical transition insights: An application to low-carbon energy scenario analysis in Europe," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    10. Audrey Laude, 2020. "Bioenergy with carbon capture and storage: are short-term issues set aside?," Post-Print hal-02163610, HAL.
    11. Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2014. "What Do We Learn from the Weather? The New Climate-Economy Literature," Journal of Economic Literature, American Economic Association, vol. 52(3), pages 740-798, September.
    12. Wylie Carr & Christopher Preston & Laurie Yung & Bronislaw Szerszynski & David Keith & Ashley Mercer, 2013. "Public engagement on solar radiation management and why it needs to happen now," Climatic Change, Springer, vol. 121(3), pages 567-577, December.
    13. Seth D. Baum & Timothy M. Maher & Jacob Haqq-Misra, 2013. "Double catastrophe: intermittent stratospheric geoengineering induced by societal collapse," Environment Systems and Decisions, Springer, vol. 33(1), pages 168-180, March.
    14. Son Kim & Kenichi Wada & Atsushi Kurosawa & Matthew Roberts, 2014. "Nuclear energy response in the EMF27 study," Climatic Change, Springer, vol. 123(3), pages 443-460, April.
    15. Gokul Iyer & Alicia Zhao & Adriana Bryant & John Bistline & Geoffrey Blanford & Ryna Cui & Allen A. Fawcett & Rachel Goldstein & Amanda Levin & Megan Mahajan & Haewon McJeon & Robbie Orvis & Nathan Hu, 2025. "Author Correction: A multi-model study to inform the United States’ 2035 NDC," Nature Communications, Nature, vol. 16(1), pages 1-1, December.
    16. Yunyun Wu & Xiaochun Li, 2024. "Industrial technological progress, technology spillover, and the environment in a dual agricultural economy," International Journal of Economic Theory, The International Society for Economic Theory, vol. 20(2), pages 243-266, June.
    17. Audoly, Richard & Vogt-Schilb, Adrien & Guivarch, Céline & Pfeiffer, Alexander, 2018. "Pathways toward zero-carbon electricity required for climate stabilization," Applied Energy, Elsevier, vol. 225(C), pages 884-901.
    18. Martinsson, Gustav & Sajtos, László & Strömberg, Per & Thomann, Christian, 2022. "Carbon Pricing and Firm-Level CO2 Abatement: Evidence from a Quarter of a Century-Long Panel," Misum Working Paper Series 2022-10, Stockholm School of Economics, Mistra Center for Sustainable Markets (Misum).
    19. Patrick Criqui & Denise Cavard, 2004. "Economic approach to climate policies and stakes of international negotiations," Post-Print halshs-00003793, HAL.
    20. Cai, W. & Singham, D.I., 2018. "A principal–agent problem with heterogeneous demand distributions for a carbon capture and storage system," European Journal of Operational Research, Elsevier, vol. 264(1), pages 239-256.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:fem:femwpa:2017.57. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alberto Prina Cerai The email address of this maintainer does not seem to be valid anymore. Please ask Alberto Prina Cerai to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/feemmit.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.