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Counting only the hits? The risk of underestimating the costs of stringent climate policy: A letter

journal contribution
posted on 2023-06-08, 11:04 authored by Massimo Tavoni, Richard TolRichard Tol
This paper warns against the risk of underestimating the costs-and the uncertainty about the costs-of achieving stringent stabilization targets. We argue that a straightforward review of integrated assessment models results produces biased estimates for the more ambitious climate objectives such as those compatible with the 2°C of the European Union and the G8. The magnitude and range of estimates are significantly reduced because only the most optimistic results are reported for such targets. We suggest a procedure that addresses this partiality. The results show highly variable costs for the most ambitious scenarios.

History

Publication status

  • Published

Journal

Climatic Change

ISSN

0165-0009

Publisher

Springer Verlag

Issue

3-4

Volume

100

Page range

769-778

Department affiliated with

  • Economics Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-04-23

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