The draft Garnaut Climate Change Review was released last Friday. This is the most comprehensive look so far at the economic implications of climate change and emissions trading for a developed country (Australia). Essential (but weighty) reading for those interested in the economics of the issue, a useful localisation of Stern (2006). [more inside]
posted by wilful on Jul 6, 2008 - 18 comments

The costs of climate change adaptation are estimated at US$1 Trillion* (wordwide, by 2050), equal to one year's growth. "Our analysis suggests that there are technologically feasible and relatively low-cost options for controlling carbon emissions to the atmosphere. Estimates suggest that the level of GDP might be reduced by no more than around 2-3% in 2050 if this strategy was followed, equivalent to sacrificing only around a year of economic growth for the sake of reducing carbon emissions in 2050 by around 60% compared to our baseline scenario. But if this is to be achieved, it will take further concerted action by governments, businesses and individuals over a broad range of measures to boost energy efficiency, adopt a greener fuel mix, and introduce carbon capture and storage technologies in power plants and other major industrial facilities". * that's less than half one cock-arse war!
posted by wilful on Oct 1, 2006 - 13 comments