Economics vs. Physical-based Metrics for Relative Greenhouse Gas Valuations
A range of alternatives to the Global Warming Potential (GWP) have been suggested in the scientific literature. One of these alternative metrics that has received significant attention is the cost-effective relative valuation of greenhouse gases. However, this metric is based on complex optimising integrated assessment models that are far from transparent to the general scientist or policymaker. Here we present a new analytic metric, the Cost-Effective Temperature Potential (CETP) which is based on an approximation of the cost-effective relative valuation. We show that this metric shares many similarities with the purely physical metric, Global Temperature change Potential (GTP), but that the CETP performs much better as an approximation to the cost-effective relative valuation.
|Date of creation:||02 Jun 2009|
|Date of revision:|
|Note:||Division of Physical Resource Theory, Department of Energy and Environment, Chalmers University of Technology, Gothenburg, Sweden|
|Contact details of provider:|| Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden|
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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