The Cost of Delaying Action to Stem Climate Change

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Council of Economic Advisers. The Cost of Delaying Action to Stem Climate Change

The Cost of Delaying Action to Stem Climate Change

Table of Contents

Executive Summary

I. Introduction

Delaying Climate Policies Increases Costs

Climate Policy as Climate Insurance

Other Costs of Delay and Benefits of Acting Now

II. Costs from Delaying Policy Action

Increasing Damages if Delay Means Missing Climate Targets

Increased Mitigation Costs from Delay

The Role of Technological Progress in Cost Estimates

Effect on Costs of Climate Targets, Length of Delay, and International Coordination

Climate Targets

Length of Delay

International Coordination

Summary: Quantifying Patterns across the Studies

III. Climate Policy as Climate Insurance

Tail Risk Uncertainty and Possible Large-Scale Changes

Implications of Tail Risk

Weitzman’s Dismal Theorem

Implications of Uncertainty about Tipping Points

Footnotes

Appendix: Literature on Delay Costs

Отрывок из книги

Council of Economic Advisers

Published by Good Press, 2020

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Increasing Damages if Delay Means Missing Climate Targets

Increased Mitigation Costs from Delay

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