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Full-Text Articles in Physical Sciences and Mathematics
Mitigation And The Geoengineering Threat, Juan B. Moreno-Cruz
Mitigation And The Geoengineering Threat, Juan B. Moreno-Cruz
Juan B. Moreno-Cruz
Recent scientific advances have introduced the possibility of engineering the climate system to lower ambient temperatures without lowering greenhouse gas concentrations. This possibility has created an intense debate given the ethical, moral and scientific questions it raises. In this paper I examine the economic issues introduced when geoengineering becomes available in a standard two-period two-country model where strategic interaction leads to suboptimal mitigation. Geoengineering introduces the possibility of technical substitution away from mitigation, but it also affects the strategic interaction across countries: mitigation decisions made in the first period directly affect the geoengineering decisions made in the second period. With …
Revisiting The Economics Of Climate Change: The Role Of Geoengineering, Juan B. Moreno-Cruz, Sjak Smulders
Revisiting The Economics Of Climate Change: The Role Of Geoengineering, Juan B. Moreno-Cruz, Sjak Smulders
Juan B. Moreno-Cruz
Technically simple and reversible measures to directly reduce mean global temper- atures could be available anytime soon. We introduce the concept of \geoengineering" into an analytical model of climate change. We model the technical and economic characteristics of geoengineering in line with the recent literature from physical and environmental management sciences. We investigate (i) under which circumstances geoengineering can substitute, partly or completely, for traditional abatement strate- gies, (ii) under which conditions and at what level geoengineering is optimally em- ployed, and (iii) whether geoengineering can mitigate free-riding problems.