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Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model

Author

Listed:
  • Louis Dupuy

    (Larefi - Laboratoire d'analyse et de recherche en économie et finance internationales - UB - Université de Bordeaux)

  • Koji Tokimatsu
  • Nick Hanley

Abstract

There has been a recent increase in efforts to develop broader models to assess the impact of climate change and climate change policies, both in terms of impact measures (beyond GDP) and in terms of modelling complexity (beyond DICE/RICE models). Climate policies aimed at reducing CO2 emissions can have impacts in multiple sectors of the economy, and can change consumption levels over time. We show how the sustainability indicator Genuine Savings can be endogenised within a general equilibrium model and used as a criterion for judging the impacts of such policies in terms of future well-being. Differences in Genuine Savings rates between CO2 emission reduction scenarios are discussed. We show how a broader, Genuine Savings-based assessment of climate change can result in a re-evaluation of the consequences and costs of inaction in terms of various climate change-related policies; and how multiple environmental and well-being outcomes can be analysed within a unified modelling framework.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Louis Dupuy & Koji Tokimatsu & Nick Hanley, 2019. "Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model," Post-Print hal-03390215, HAL.
    • Handle: RePEc:hal:journl:hal-03390215
    DOI: 10.1007/s10640-018-0292-2
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    Cited by:

    1. Pierluigi Morano & Francesco Tajani & Maria Rosaria Guarini & Francesco Sica, 2021. "A Systematic Review of the Existing Literature for the Evaluation of Sustainable Urban Projects," Sustainability, MDPI, vol. 13(9), pages 1-17, April.
    2. Paweł Ziemba & Aneta Becker & Jarosław Becker, 2022. "Models and Indices of Sustainability Assessment in the Energy Context," Energies, MDPI, vol. 15(24), pages 1-22, December.
    3. Koji Tokimatsu & Shinsuke Murakami & Tsuyoshi Adachi & Ryota Ii & Rieko Yasuoka & Masahiro Nishio, 2017. "Long-term demand and supply of non-ferrous mineral resources by a mineral balance model," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 30(3), pages 193-206, October.
    4. Elettra Agliardi & Anastasios Xepapadeas, 2019. "Introduction: Special Issue on the Economics of Climate Change and Sustainability," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(1), pages 1-4, January.
    5. Francesco Sica & Francesco Tajani & Maria Rosaria Guarini & Rossana Ranieri, 2023. "A Sensitivity Index to Perform the Territorial Sustainability in Uncertain Decision-Making Conditions," Land, MDPI, vol. 12(2), pages 1-21, February.
    6. Atta Ullah & Haitham Nobanee & Saif Ullah & Saba Khan, 2025. "Addressing Climate Change and Advancing Green Development: Regional Transition Mechanisms for a Sustainable Future in Belt and Road Initiative Nations," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(4), pages 6139-6167, August.

    More about this item

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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