Economic accountability of climate sustainability

Comptabilité économique de la soutenabilité climatique

Jean-Marc Germain and Thomas Lellouch
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Jean-Marc Germain: INSEE - Institut national de la statistique et des études économiques (INSEE)
Thomas Lellouch: INSEE - Institut national de la statistique et des études économiques (INSEE)

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Abstract: Respecting the Paris Agreements commitments, which derive from the Paris Agreements on climate, requires the commitment of significant financial resources, which are evaluated here using a macroeconomic model combining a criterion of intergenerational distribution of the climate effort and assumptions on the effectiveness of decarbonisation technologies. They show that for France, the current greenhouse gas emissions trajectory is unsustainable, in the sense that in order to reach the carbon neutrality commitment in 2050, the annual level of climate spending would have to increase very substantially, to 4.5% of GDP from the current 1.9%. TIn relation to annual emissions, these evaluations make it possible to deduce a social price of carbon or a value for climate action, which has been increased significantly compared to previous evaluations, in the wake of the results of the Quinet committee in 2019. Such evaluations of the emissions trajectory and the social carbon price could be the entry point for environmental economic accounting that includes the degradation of natural assets caused by economic activities.

Keywords: Sustainablity; adjusted net savings; carbon price; climate change; épargne nette ajustée; prix du carbone; changement climatique; Soutenabilité (search for similar items in EconPapers)
Date: 2020-10
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