Climate problem: Economics

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Literature review: Economics problem for Climate

The “Ten Problems for Climate in the 2020s” booklet identifies ten relevant areas from very recent contributions put forward at academic level in the form journal articles, conference proceedings and students theses. Ten freely accessible internet references have been selected for each area and direct links are provided at the end of each chapter for own consultation. Our selected references do not intend to mirror ranking indexes nor establish novel classifications. On the contrary, they are meant to represent peer-reviewed, diverse and scientifically-sound case studies for vertical dissemination aimed at non-specialist readers. They will also be able to scoop even more references through the bibliography that is reported at the end of each selected reference.

Without further ado, these are the ten problems that we are going to introduce in this booklet:

  1. energy policies, 
  2. effects,
  3. machine learning,
  4. communication,
  5. non-state actors,
  6. social sciences,
  7. green infrastructures,
  8. mitigation,
  9. regional environments,
  10. economics.

Each problem has its own dedicated chapter made of an introductory section, a short presentation of the ten selected references and a conclusions section.

The final chapter of this booklet will report the conclusions from each chapter again in order to provide a complete executive summary.

10 Economics

THE PROBLEM — Understanding climate change along with its economic dimension is a complex issue that involves climate science, economics and their interactions. Climate change will have devastating consequences for people already in poverty. Still, as an example, Greenland ice sheet disintegration is estimated to add only less than 5% to the social cost of carbon under alternative discount rates. The financial system is expected to play a major role in shaping the speed, timing and pace of a sustainable transition by mobilizing capital. Pushing firms and households to decarbonize through price signals will call for higher taxes, though. Novel frameworks are needed for answering how both climate and emissions impacts can be assessed, as well as uncertainty in social decision-making.

CASE STUDIES — … buy this booklet from Amazon …

CONCLUSIONS — The COVID-19 crisis is likely to have dramatic consequences for progress on climate change: fiscal recovery packages could entrench or partly displace the current fossil-fuel-intensive economic system. The carbon budget presents us with a climate issue that is different from that of long-term stabilization targets. The risk of Greenland ice sheet disintegration, although a major change in the earth system, would make a small further contribution to the overall social carbon cost. Complex systems science could offer flexible tools to analyze the relationship between the physical and the socio-economic system. All introductory economic textbooks conceptualize climate change as a problem of carbon emission’s negative externalities. Switzerland has almost stabilized its CO2 emissions already thanks to the combined effect of governmental policies and decided measures. Central banks mandates justify paying more attention to ethical distributional and environmental concerns, especially if policy choices have a significant potential impact. Since agriculture and forestry often compete for the same land input, there is some discussion regarding how policies in one of these sectors affects the other. The social cost of carbon shows notable increases when uncertainty components coming from climate and economic modeling are acknowledged but damage assessment could also be used as a basis for compensating victims.

TEN FREE REFERENCES FROM THE INTERNET — … buy this booklet from Amazon …

“Ten Problems for Climate in the 2020s” booklet for Amazon Kindle, 2020; click on the cover to go to the dedicated Amazon listing page

booklet updated on 13 Dec 2020, now on sale as version 1.1

By TenProblems

Literature Reviews for Inquisitive Minds