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UCL Discovery
Article . 2021
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Journal of Cleaner Production
Article . 2021 . Peer-reviewed
License: Elsevier TDM
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The impact of climate risk valuation on the regional mitigation strategies

Authors: Pu Yang; Pu Yang; Jinkai Li; Yun-Fei Cao; D’Maris Coffman; Zhifu Mi; Yun-Fei Yao; +1 Authors

The impact of climate risk valuation on the regional mitigation strategies

Abstract

Abstract Different assumptions and methodologies prompt divergent policy recommendationgs for combatting climate change. Although climate scientists would like to be as precise as possible, policymakers with different attitudes towards climate change will always choose the result that matches their own value judgments. This paper discusses the impact of climate change attitudes on optimal mitigation in 15 regions. The climate change attitude is refined by a meta-analysis of 27 climate damage estimations and distilled into five damage functions. The optimal mitigation is calculated using the non-cooperative scenario of the regional integrated model of climate economy (RICE). The results show that the optimal mitigation paths in developing countries are more sensitive to climate change attitudes than they are in developed countries. In 2100, the range of optimal emissions represents 20% of the average optimal emissions by developing countries, which is twice the value of average optimal emissions by developed countries. The average social carbon cost in developing countries is 20 times higher than that in developed countries. This large uncertainty may be the combined result of high shadow prices of capital and large quantities of future emissions in these developing countries.

Country
United Kingdom
Related Organizations
Keywords

Impact assessment, Political attitudes, IAMs, Climate damage, Climate change

  • BIP!
    Impact byBIP!
    citations
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    10
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 10%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Average
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 10%
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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
10
Top 10%
Average
Top 10%
Green