Persistent Link:
http://hdl.handle.net/10150/615097
Title:
Economics of tipping the climate dominoes
Author:
Lemoine, Derek ( 0000-0002-1298-9472 ) ; Traeger, Christian P.
Affiliation:
Univ Arizona, Dept Econ
Issue Date:
2016-01-18
Publisher:
NATURE PUBLISHING GROUP
Citation:
Economics of tipping the climate dominoes 2016, 6 (5):514 Nature Climate Change
Journal:
Nature Climate Change
Rights:
© 2016 Macmillan Publishers Limited. All rights reserved.
Collection Information:
This item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at repository@u.library.arizona.edu.
Abstract:
Greenhouse gas emissions can trigger irreversible regime shifts in the climate system, known as tipping points. Multiple tipping points affect each other's probability of occurrence, potentially causing a 'domino effect'. We analyse climate policy in the presence of a potential domino effect. We incorporate three different tipping points occurring at unknown thresholds into an integrated climate-economy model. The optimal emission policy considers all possible thresholds and the resulting interactions between tipping points, economic activity, and policy responses into the indefinite future. We quantify the cost of delaying optimal emission controls in the presence of uncertain tipping points and also the benefit of detecting when individual tipping points have been triggered. We show that the presence of these tipping points nearly doubles today's optimal carbon tax and reduces peak warming along the optimal path by approximately 1 degrees C. The presence of these tipping points increases the cost of delaying optimal policy until mid-century by nearly 150%.
Note:
Published online 18 January 2016. 6 month embargo.
ISSN:
1758-678X; 1758-6798
DOI:
10.1038/nclimate2902
Version:
Final accepted manuscript
Sponsors:
C.P.T. gratefully acknowledges support by the National Science Foundation through the Network for Sustainable Climate Risk Management GEO-1240507.
Additional Links:
http://www.nature.com/doifinder/10.1038/nclimate2902

Full metadata record

DC FieldValue Language
dc.contributor.authorLemoine, Dereken
dc.contributor.authorTraeger, Christian P.en
dc.date.accessioned2016-06-29T19:52:14Z-
dc.date.available2016-06-29T19:52:14Z-
dc.date.issued2016-01-18-
dc.identifier.citationEconomics of tipping the climate dominoes 2016, 6 (5):514 Nature Climate Changeen
dc.identifier.issn1758-678X-
dc.identifier.issn1758-6798-
dc.identifier.doi10.1038/nclimate2902-
dc.identifier.urihttp://hdl.handle.net/10150/615097-
dc.description.abstractGreenhouse gas emissions can trigger irreversible regime shifts in the climate system, known as tipping points. Multiple tipping points affect each other's probability of occurrence, potentially causing a 'domino effect'. We analyse climate policy in the presence of a potential domino effect. We incorporate three different tipping points occurring at unknown thresholds into an integrated climate-economy model. The optimal emission policy considers all possible thresholds and the resulting interactions between tipping points, economic activity, and policy responses into the indefinite future. We quantify the cost of delaying optimal emission controls in the presence of uncertain tipping points and also the benefit of detecting when individual tipping points have been triggered. We show that the presence of these tipping points nearly doubles today's optimal carbon tax and reduces peak warming along the optimal path by approximately 1 degrees C. The presence of these tipping points increases the cost of delaying optimal policy until mid-century by nearly 150%.en
dc.description.sponsorshipC.P.T. gratefully acknowledges support by the National Science Foundation through the Network for Sustainable Climate Risk Management GEO-1240507.en
dc.language.isoenen
dc.publisherNATURE PUBLISHING GROUPen
dc.relation.urlhttp://www.nature.com/doifinder/10.1038/nclimate2902en
dc.rights© 2016 Macmillan Publishers Limited. All rights reserved.en
dc.titleEconomics of tipping the climate dominoesen
dc.typeArticleen
dc.contributor.departmentUniv Arizona, Dept Econen
dc.identifier.journalNature Climate Changeen
dc.description.notePublished online 18 January 2016. 6 month embargo.en
dc.description.collectioninformationThis item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at repository@u.library.arizona.edu.en
dc.eprint.versionFinal accepted manuscripten
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