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Climate Policy Under Uncertainty: A Case For Solar Geoengineering, Juan B. Moreno-Cruz, David W. Keith
Climate Policy Under Uncertainty: A Case For Solar Geoengineering, Juan B. Moreno-Cruz, David W. Keith
Juan B. Moreno-Cruz
It appears to be technically feasible to engineer an increase in albedo, a planetary brightening, as a means to offset the warming caused by carbon dioxide (CO2) and other greenhouse gases through Solar Radiation Management (SRM). This option has two characteristics that make it attractive for managing climate risk: it is quick and cheap. However, SRM cannot exactly compensate for the CO2-driven climate change. Moreover, SRM introduces risks in the climate system that are unique to this type of intervention.We introduce SRM in a model of climate change economics and analyze the optimal policy under uncertainty. We find that the …