External Publications
2017

Climate Engineering and Abatement: A ‘flat’ Relationship Under Uncertainty


Authors: J. Emmerling, M. Tavoni
Type: Journal
Published in: Environmental and Resource Economics, online first, January 11th, 2017
Date: 2017

Abstract

The potential of climate engineering to substitute or complement abatement of greenhouse gas emissions has been increasingly debated over the last years. The scientific assessment is driven to a large extent by assumptions regarding its effectiveness, costs, and impacts, all of which are profoundly uncertain. We investigate how this uncertainty about climate engineering affects the optimal abatement policy in the near term. Using a two period model of optimal climate policy under uncertainty, we show that although abatement decreases in the probability of success of climate engineering, this relationship is concave implying a rather ‘flat’ level of abatement as the probability of climate engineering becomes a viable policy option. Using a stochastic version of an integrated assessment model, the results are found to be robust to a wide range of specifications. Moreover, we numerically evaluate different correlation structures between climate engineering and the equilibrium climate sensitivity.

links
Link
Climate Engineering and Abatement: A ‘flat’ Relationship Under Uncertainty

FEEM Newsletter & Update

Subscribe to stay connected.

Your personal data will be processed by Fondazione Eni Enrico Mattei. – data Controller – with the aim of emailing the FEEM newsletter & Update. The use of Your email address is necessary for the implementation of the newsletter service. You are invited to read the Privacy Policy in order to obtain additional information about the protection of Your rights.

This Website uses technical cookies and cookie analytics, as well as “third party” profiling cookies.
If you close this banner or you decide to continue navigating on this Website, you express consent to the use of cookies. If you need additional information or you wish to express selective choices on the use of cookies, please refer to the   Cookie PolicyI agree