Tuesday, 26 May 2009

New web site about economics of climate change

Excerpt from a Dot Earth post:
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There’s a new star out there in the online constellation of viewpoints, a Web site called RealClimateEconomics.org. [ ... ] The people involved with the new economics Web site have a strongly stated point of view: “The peer-reviewed literature demonstrates that there is rigorous economic support for immediate, large-scale policy responses to the climate crisis.” They note that three themes reverberate through their work, all of which have been explored at one point or another on Dot Earth (the links in their statement are to relevant posts):
  • Risk and uncertainty are fundamental to the climate problem; the magnitude and the irreversibility of uncertain, but possible, worst-case climate impacts dominate the analysis of policy options.
  • Ethics and equity are inseparable from economic analysis; there are deep questions of fairness between rich and poor today, and between present and future generations, at stake in the debate.
  • The severity of the problem and the scope of the required response are so great that marginal analysis of small changes and modest adjustments of market-based instruments are inadequate to the task of understanding and protecting the earth’s climate.

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