Archives par mot-clé : Climate Cost

The Economics of the IPCC’s Special Report on Limiting Temperatures to 1.5 °C

by Ken B. Gregory, P. Eng., October 31, 2018 in FriendsofScience


The Intergovernmental Panel on Climate Change (IPCC) published a special report (hereafter called SR15) on the impacts of global warming of 1.5 °C above pre-industrial levels on October 8, 2018. The report says the cost of mitigating CO2 emissions in 2030 to prevent temperatures from exceeding 1.5 °C above pre-industrial levels is about 880 US$2010 per tonne of CO2 ($/tCO2). The benefit of doing so, according to the report, is 15 $/tCO2. Using a climate sensitivity based on observations including effects of natural climate change, urban warming and the best available economic model, the mitigation proposal will prevent a benefit of 8.2 $/t CO2, for a total loss of 888 $/tCO2 mitigated. In other words, each $1000 spent on mitigation of CO2 emissions will cause another loss $9.20.

The SR15, presents various emissions pathways to limit the projected rise of temperatures from pre- industrial times, estimated to be the temperature average from 1850 to 1900, to the year 2100, and to limit the temperature rise to 2.0 °C by 2100. According to the IPCC, temperatures have increased by about 1.0 °C from pre-industrial times to 2017. Therefore, the emissions pathways to limit warming allows only 0.5 °C temperature rise from 2017, assuming there is no natural caused climate change.

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What the Economic Models of Nobel Laureate William Nordhaus Say on Climate Change

by Robert P. Murphy, October 22, 2018 in The IndependantInstitute/FEE


 

Conclusion

First, Nordhaus shows that aggressive mitigation policies can be a cure worse than the disease, and he specifically includes the United Nation’s latest goal in his examples of such misguided goals. Second, Nordhaus’s estimate of the optimal carbon tax (for the year 2025, for example) has almost tripled in less than a decade. Third, far from being tied to specific analyses of particular threats, Nordhaus’s global damage estimate was largely driven by a simple survey of experts, and this figure was furthermore manipulated arbitrarily by Nordhaus in light of new developments. The public would be very surprised to learn just how crude the “settled science” underlying various proposals to limit climate change really is.

Calculating the Cost of Global Warming

by Andy May, December 14, 2017 in WUWT


Hopefully, the first two posts in this series, “Do humans harm the environment” and “Population Growth and the Food Supply” have convinced the reader that man-made climate change and global warming are not an existential threat to humanity or the planet. This leaves us in a discussion of the cost of global warming, which is something we can calculate. To do the calculation, we need to estimate the monetary damages caused by global warming, when they will be incurred, and the discount rate of money over that period of time. We will not attempt the calculation here, it is too complex, but we can discuss the parameters and some of the calculations done by others.