Projections and uncertainties about climate change in an era of minimal climate policies

William Nordhaus

No 2057, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Climate change remains one of the major international environmental challenges facing nations. Yet nations have to date taken minimal policies to slow climate change. Moreover, there has been no major improvement in emissions trends as of the latest data. The current study uses the updated DICE model to present new projections and the impacts of alternative climate policies. It also presents a new set of estimates of the uncertainties about future climate change and compares the results will those of other integrated assessment models. The study confirms past estimates of likely rapid climate change over the next century if there are not major climate-change policies. It suggests that it will be extremely difficult to achieve the 2�C target of international agreements even if ambitious policies are introduced in the near term. The required carbon price needed to achieve current targets has risen over time as policies have been delayed.

Keywords: Climate change; DICE model; Uncertainty; Social cost of carbon (search for similar items in EconPapers)
JEL-codes: C6 H41 Q5 Q54 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2016-12
New Economics Papers: this item is included in nep-agr, nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (26)

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Related works:
Journal Article: Projections and Uncertainties about Climate Change in an Era of Minimal Climate Policies (2018)
Working Paper: Projections and Uncertainties About Climate Change in an Era of Minimal Climate Policies (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:2057

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