Robust Policy Workshop on: "Optimal Carbon Price under Climate Risk"
08:45 - 14:00
Climate change presents a new challenge for economic decision making in terms of impacts on different aspects of economic productivity and consumption, and also in terms of scale and speed of change in the environment and the economy. In order to control the negative impacts of climate change, the Paris Agreement asked the global community to work toward achieving 2°C and 1.5°C targets. A key instrument in achieving these targets is a global carbon price that will ensure the sufficiency of mitigation efforts and will provide policy makers with a unique indicator to measure the cost of reducing climate change in fossil fuel based economies.
The main aim of this workshop is to present the latest approaches to calculate the carbon price under uncertainties from the climate system. Key issues around carbon price and tax, risks and uncertainties, climate impacts, and relevant policy implications will be discussed. The aim is to foster collaboration among researchers in this field and eventually produce a review paper which describes present and future research on carbon price under uncertainty and climate risk.