Climate policy under uncertainty: a case for solar geoengineering
By Juan Moreno-Cruz, David William Keith. Climatic Change, 2013
128 citations recorded by the source corpus.
Solar Radiation Management (SRM) has two characteristics that make it useful for managing climate risk: it is quick and it is cheap. SRM cannot, however, perfectly offset CO2-driven climate change, and its use introduces novel climate and environmental risks. We introduce SRM in a simple economic model of climate change that is designed to explore the interaction between uncertainty in the climate’s response to CO2 and the risks of SRM in the face of carbon-cycle inertia. The fact that SRM can be implemented quickly, reducing the effects of inertia, makes it a valuable tool to manage climate risks even if it is relatively ineffective at compensating for CO2-driven climate change or if its costs are large compared to traditional abatement strategies. Uncertainty about SRM is high, and decision makers must decide whether or not to commit to research that might reduce this uncertainty. We find that even modest reductions in uncertainty about the side-effects of SRM can reduce the overall costs of climate change in the order of 10%.
Subfields: Economics and Econometrics, Global and Planetary Change
View Paper: https://www.semanticscholar.org/paper/8a674969befc0bc7a3cd408d8a9311eba4f67412
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In Economics and Econometrics
In Global and Planetary Change
Citations in the corpus
- Tipping elements and climate–economic shocks: Pathways toward integrated assessment (2016, background): “The desire to avoid committed state shifts has been an undercurrent in much of the discourse regarding ‘albedo modification’ or ‘solar radiation management’ (SRM), a climate engineering technique that can decrease global mean temperature [Bickel and Agrawal, 2012; Moreno-Cruz and Keith, 2012; Keith,”