Arbeitspapier
Metrics for aggregating the climate effect of different emissions: A unifying framework
Multi-gas approaches to climate change policies require a metric establishing equivalences among emissions of various species. Climate scientists and economists have proposed four classes of such metrics and debated their relative merits. We present a unifying framework that clarifies the relationships among them. We show that the Global Warming Potential, used in international law to compare greenhouse gases, is a special case of the Global Damage Potential, assuming (1) a finite time horizon, (2) a zero discount rate, (3) constant atmospheric concentrations, and (4) impacts that are proportional to radiative forcing. We show that the Global Temperature change Potential is a special case of the Global Cost Potential, assuming (1) no induced technological change, and (2) a short-lived capital stock. We also show that the Global Cost Potential is a special case of the Global Damage Potential, assuming (1) zero damages below a threshold and (2) infinite damage after a threshold. The UN Framework Convention on Climate Change uses the Global Warming Potential, a simplified cost-benefit concept, even though the UNFCCC frames climate policy as a cost-effectiveness problem and should therefore use the Global Cost Potential or its simplification, the Global Temperature Potential.
- Sprache
-
Englisch
- Erschienen in
-
Series: ESRI Working Paper ; No. 257
- Klassifikation
-
Wirtschaft
- Thema
-
climate change
multi-gas climate policy
Global Warming Potential
equivalences between greenhouse gases
Klimaveränderung
Treibhausgas
Umweltbelastung
Umweltschutzkosten
Schätzung
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Tol, Richard S. J.
Berntsen, Terje K.
O'Neill, Brian C.
Fuglestvedt, Jan S.
Shine, Keith P.
Balkanski, Yves
Makra, Laszlo
- Ereignis
-
Veröffentlichung
- (wer)
-
The Economic and Social Research Institute (ESRI)
- (wo)
-
Dublin
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Tol, Richard S. J.
- Berntsen, Terje K.
- O'Neill, Brian C.
- Fuglestvedt, Jan S.
- Shine, Keith P.
- Balkanski, Yves
- Makra, Laszlo
- The Economic and Social Research Institute (ESRI)
Entstanden
- 2008
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