Global warming economy

Water Ground "Observational evidence from all continents and most oceans shows that many natural systems are being affected by regional climate changes, particularly temperature increases.

Global warming economy

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In common language equity means "the quality of being impartial" or "something that is fair and just. Chitre argues, and Emerging markets countries, such as India and China, often would rather analyze Per capita emissions instead of committing to aggregate Emissions reduction because of historical contributions by the Industrialized nations to the climate change crisis, under the principle of Common But Differentiated Responsibilities.

The IPCC's later " SRES " scenarios, published inexplicitly explore scenarios with a narrowing income gap convergence between the developed and developing countries. Climate change scenario Projected total carbon dioxide emissions between — using the six illustrative "SRES" marker scenarios.

Some of these projections aggregate anthropogenic emissions into a single figure as a " carbon dioxide equivalent " CO2-eq. The effects of aerosol and land-use changes e.

Six of the SRES emissions scenarios have been used to project possible future changes in atmospheric CO2 concentrations. Uncertainties such as the removal of carbon from the atmosphere by " sinks " e.

Atmospheric GHG concentrations can be related to changes in global mean temperature by the climate sensitivity.

Hope[58] for example, found that uncertainty over the climate sensitivity was the most important factor in determining the social cost of carbon an economic measure of climate change impacts. Cost—benefit analysis[ edit ] Standard cost—benefit analysis CBA [59] also referred to as a monetized cost—benefit framework [60] can be applied to the problem of climate change.

If, for example, some countries were to benefit from future climate change but others lose out, there is no guarantee that the winners would compensate the losers; [61] similarly, if some countries were to benefit from reducing climate change but others lose out, there would likewise be no guarantee that the winners would compensate the losers.

This criterion has been justified on the basis that: This contrasts with a strategy in which no action is taken until research resolves all key uncertainties. One of the problems of climate change are the large uncertainties over the potential impacts of climate change, and the costs and benefits of actions taken in response to climate change, e.

A near-term hedging strategy concerned with reducing future climate impacts might favour stringent, near-term emissions reductions. To put it differently, stringent near-term emissions abatement can be seen as having an option value in allowing for lower, long-term stabilization targets.

This option may be lost if near-term emissions abatement is less stringent. This may suggest an approach where near-term emissions abatement is more modest. Economics of climate change mitigation The mitigation portfolio. The first were resilient strategies. This seeks to identify a range of possible future circumstances, and then choose approaches that work reasonably well across all the range.

The second were adaptive strategies.

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The idea here is to choose strategies that can be improved as more is learned as the future progresses. Granger Morgan et al.

Portfolio theory[ edit ] An example of a strategy that is based on risk is portfolio theory. This suggests that a reasonable response to uncertainty is to have a wide portfolio of possible responses.

In the case of climate change, mitigation can be viewed as an effort to reduce the chance of climate change impacts Goldemberg et al.

The risk associated with these impacts can also be spread. As part of a policy portfolio, climate research can help when making future decisions. Technology research can help to lower future costs.

Global warming economy

Optimal choices and risk aversion[ edit ] See also: Decision analysis requires a selection criterion to be specified. In a decision analysis based on monetized cost—benefit analysis CBAthe optimal policy is evaluated in economic terms.

The optimal result of monetized CBA maximizes net benefits.An analysis of how the global warming scare developed, beginning inthe UK with the support of Margaret Thatcher.

Explore the Climate Hot Map to see evidence of climate change including heat waves, sea-level rise, flooding, melting glaciers, earlier spring arrival, coral reef bleaching, and the spread of disease.

Learn about practical solutions to curb global warming. Accompanying the concerns of climate change and global warming is the media spin, propaganda, and special interests. For many years in some countries, scientists and environmental groups raising concerns about climate change faced stern opposition, and at one time, ridicule.

Initially, many big businesses and countries such as the United States were openly challenging concerns of climate . There are many ways to prevent global warming from becoming worse. Many nations have put laws into place to fight climate change -- here’s what you can do.

Jul 13,  · How does global warming affect the economy? This question was originally answered on Quora by David Ford. Learn about global warming and the consequences to our environment from increased wildlife extinction rates to acidic oceans and polluted air.

Global Warming Effects on the Economy