https://doi.org/10.1038/nature14016, Mealy P, Hepburn CJ (2017) Transformational change: parallels for addressing climate and development goals INET. This is based on decisions organizations make with regard to: the boundaries of their environmental . - values are human centered - i.e. Technol Forecast Soc Change. Moreover, there was no evidence at all that the countries which had invested early in pollution control along with their industrialisation (e.g. Environmental, economic, and energetic costs and benefits of biodiesel Weitzman emphasised the truly extraordinary uncertainty about the aggregate welfare impacts of catastrophic climate change, which is represented mathematically by a PDF that is spread out and heavy with probability in the tails. (Weitzman 2011, p.285). He reviewed evidence on relative pollution intensity and energy intensity, estimates of the environmental damage costs incurred by these East Asian economies and how these related to actual measured output, and evidence on environmental expenditures in these countries, both actual and projected. Chapter 3: The Benefits and Costs of Environmental Protection - Quizlet Potsdam Institute for Climate Impact Research, Peszko G, van der Mensbrugghe D, Golub A, Ward J, Zenghelis D, Marijs C, Schopp A, Rogers JA, Midgley A (2020) Diversification and cooperation in a decarbonizing world: climate strategies for fossil fuel-dependent countries. But it is important not to mistake output growth with growth in material inputs such as fuels, minerals, ecosystem services and capital equipment. This is particularly useful for projects, programmes or policies that have both socio-economic and environmental components. Challenge students to think about their own habits of consumption as well as the habits of human society as a whole with these activity ideas. - no actual payment needs to take place. This book explores recent developments in environmental cost-benefit analysis (CBA). Build cycle lanes and people will buy bicycles. From a practical perspective, degrowth is likely to prove a hard sell, particularly in parts of the rapidly developing, populous world where growth is (rightly) seen as a primary means to eradicate poverty. Although estimates vary across these studies, all agree that the external benefits of using recycled aluminum are the highest ($850-1770 per ton), followed by steel and paper ($70-225 per ton), glass ($15-190 per ton), and various plastics ($5 to -$50 per ton). A more recent study by the EPA estimated that the environmental benefits to Americans from the Clean Air Act will exceed their costs by a margin of four to one. 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Professors explain the social cost of carbon | Stanford News Pension funds and insurance companies are correspondingly cutting support for coal projects (Financial Times 2018). One of the earliest papers to investigate the assumption that pollution was a necessary accompaniment to early growth was OConnor (1996), who tested it in respect of the newly industrialising or recently industrialised economies of East and South East Asia. (2012) argue that compared with business-as-usual, green growth would mean immediate positive effects on the economy, such as co-benefits (e.g. The Global Resources Outlook of the International Resource Panel (IRP 2019a; b) has documented the growth of resource use since 1970 and associated environmental impacts. 2015; Levin and Thomas 2016). http://www.lse.ac.uk/GranthamInstitute/wp-content/uploads/2016/06/Zenghelis-and-Stern-policy-paper-June-2016.pdf, Stern N, Unsworth S, Valero A, Zenghelis D, Rydge J, Robins N (2020) An LSE action plan for a strong and sustainable recovery. Detoxification, it seems, often makes economic sense quite apart from the welfare benefits of resulting in healthier people. The sixth UN Global Environment Outlook (GEO-6) (UNEP 2019) focused on the close relationship between human and environmental health, presenting much evidence that a healthy planet is necessary for healthy people and that, conversely, an unhealthy planet damages human health. Cost-Benefit Analysis and the Environment: Further Developments and Prepare an environmental financial statement by combining the classification of environmental costs with the environmental benefits identified and collected. Using data on 1 million patents and 3 million citations, Dechezlepretre et al. This further highlights the importance to policymakers of explicitly integrating co-benefits, uncertainties, path dependencies and irreversible thresholds into their comprehensive project assessments, recognising the limitations of standard costbenefit analysis.Footnote 7. Acemoglu D, Aghion P, Bursztyn L, Hmous D (2012) The environment and directed technical change. A project is accepted if B/C ratio is greater than 1. 2020). 4). They will continue to ravage human communities, perhaps with increased intensity, for the foreseeable future. https://doi.org/10.1016/j.techfore.2020.119981, Mani M (2014) Greening Indias growth: costs, valuations and trade-offs. (2018) have investigated in detail the various planetary thresholds that may act as tipping points, at different levels of global warming, into a Hothouse Earth. The irony is that the assumption that countries at an early stage of development need to suffer gross pollution to get richer flies in the face of more than two decades of evidence, as will be seen. The Costs and Benefits of Environmental Changes This paper echoes, and indeed adds to, the findings of GEO-6 by setting out the benefits to early policy action, not only to limit potentially catastrophic environmental risks, but also to shape new markets, create business opportunities and induce new technologies and behaviours which will benefit society beyond their environmental value. Policy can thereby influence both the direction and pace of change (Fischer and Newell, 2008; Farmer and Lafond, 2016). We are already seeing increasing returns to scale in discovery and production, and we are seeing very powerful complementarities and positive feedbacks in systems. Grubb M, Wieners C (2020) Modelling Myths: on the need for dynamic realism in DICE and other equilibrium models of global climate mitigation. There is no room for fatalism and complacency. In such cases, technological penetration is best described in the form of a logistical substitution or S-curve: Models applying historical futures analysis by way of incremental improvements in energy and carbon efficiency, or which focus exclusively on what policies have worked in the past, are often doomed to under-predict the scope and pace of change simply because when it comes to structural transitions, the past is no guide to the future. Google Scholar, Hepburn C, Pfeiffer A, Teytelboym A (2018) Green Growth The New Oxford Handbook of Economic Geography. Failure to model the dynamics and positive feedbacks associated with structural change, not only in terms of economies of scale from production and discovery, but also the complementarities and feedbacks associated with contagion and systems tips, are the reasons why most economists have been caught out by the rapid nature of the early phases of the post-carbon transition.
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