Depletion of the global carbon budget: a user cost approach.
The Fifth IPCC Assessment Report estimates the world's ‘carbon budget’, which is the cumulative amount of anthropogenic CO2 emissions limiting global warming below 2°C. We model this carbon budget as a resource asset depleted by annual GHG emissions, and estimate the user cost associated with deplet...
| Published in: | Environment & Development Economics Vol. 22; no. 6; pp. 658 - 674 |
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| Main Authors: | , , , |
| Format: | Article |
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Cambridge University Press
Dec2017
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=126197001&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 126197001 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 1355770X FZP jtl: Environment & Development Economics issn: 1355770X maglogo: N pubinfo: dt: Dec2017 vid: 22 iid: 6 pid: 15979 pub: Cambridge University Press artinfo: ui: 126197001 10.1017/S1355770X17000055 ppf: 658 ppct: 16 formats: tig: atl: Depletion of the global carbon budget: a user cost approach. aug: au: Halkos, George Managi, Shunsuke Barbier, Edward B. Burgess, Joanne C. affil: Department of Economics and Finance, University of Wyoming, 1000 E. University Ave., Laramie, WY 82071, USA. Department of Economics and Finance, University of Wyoming, USA. su: Anthropogenic effects on nature Public welfare Global warming & the environment Carbon & the environment Greenhouse gases & the environment sug: subj: Anthropogenic effects on nature Public welfare Health and Welfare Funds Other Individual and Family Services Emergency and Other Relief Services Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs) Global warming & the environment Carbon & the environment Greenhouse gases & the environment ab: The Fifth IPCC Assessment Report estimates the world's ‘carbon budget’, which is the cumulative amount of anthropogenic CO2 emissions limiting global warming below 2°C. We model this carbon budget as a resource asset depleted by annual GHG emissions, and estimate the user cost associated with depletion. For constant emissions, social welfare increases US$3.3 trillion (6 per cent of global GDP) over the business as usual scenario of growing emissions, and the carbon budget's lifetime increases from 18 to 21 years. For declining emissions, the gain is US$10.4 trillion (19 per cent of global GDP), and the budget's lifetime is 30 years. Extending indefinitely the lifetime of the carbon budget would require emissions to fall exponentially by 4.8 per cent or more. Although the Paris Agreement abatement pledges will generate social gains of US$2–2.5 trillion (4–5 per cent of world GDP), they are insufficient to prevent depletion of the 2°C global carbon budget by 2030. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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