Economics of Carbon Emissions and Climate Change - 1109 Words

Economics of Carbon Emissions and Climate Change The economics of climate change is a very controversial and disputed. To even discuss what should be done economists have to either state whether or not global warming and climate change exist. According to the CATO article, Climate Change vs. Climate Models (Michaels and Knappenberger, 2013), â€Å"The models’ estimate of the increase in temperature resulting from a doubling of carbon dioxide concentration may simply be too high.† As questioned in the article, is there such thing as climate change? Next, if climate change does exist, are carbon emissions a relevant cause of such a phenomena? With all of these questions at hand, how do we deal or cope with the current environmental state through economic means? Does climate change exist? According to the U.S. Global Research Program (USGRP), climate change does exist. Not in the sense of immediate and drastic changes in the climate, but a gradual fluctuation in temperatur es that have been gathered since the early 1900s. The empirical data that has been gathered shows a steady increase in the mean maximum temperature recorded in the Canadian Climate Change Model which is the basis on the 2000 U.S. National Assessment of Climate Change. The original model generated had a sine-like pattern with a .342 °C difference between the highest crest and lowest trough. This was then proven an unworthy model when the actual empirical data was recorded with a .169 °C difference. There wasShow MoreRelatedConstraints On Nations And Individuals1677 Words   |  7 Pages Constraints on Nations and Individuals in Combating Climate Change Course and code Date Name of student Name of Institute Constraints on Nations and Individuals in Combating Climate Change For many years, the issue of climate change has been thorny mostly because it affects the whole world yet a few countries are the greatest contributors. Climate change has led to global warming that has affected many countries in terms of weather variation, flooding, poverty, and desertificationRead MoreCarbon Dioxide Emissions in Australia and Climate Change1375 Words   |  5 PagesMarket-based policies are a proven way to limit carbon pollution and channel capital and innovation into clean energy, helping to avert the catastrophic consequences of climate change† - EDF vice president for international climate, Nathaniel Keohan Introduction In a contemporary political setting, it is now broadly recognized that over the 20th century, the atmospheric concentrations of key greenhouse gases, particularly Carbon Dioxide have been amplified by human activity. Australia can be heldRead MoreEssay On Mitigation1367 Words   |  6 PagesCombating Climate Change: An Analysis of Emissions Mitigation Policies Implementing Greenhouse Gas (GHG) emissions reduction policies is motivated by the occurrence of climate change and its projected damage to world economies, ecosystems and communities. Climate change is becoming increasingly urgent in the world sphere with its main cause being observed anthropogenic and thus certain mitigation and adaptation policies must be put in place to attempt to slow the current rate of warming and allowRead MoreThe Critical Implications Of Climate Change For Business1034 Words   |  5 Pagesimplications of climate change for business? A business plays a heavy and critical role in the contribution to global climate change. Suzanne Goldberg (2013) reports that only 90 companies worldwide caused two-thirds of the man-made global warming emissions. Oil, coal and gas companies are the major players in the global climate change crisis of the 21st century (Goldberg 2013). Companies such as Chevron, Exxon and BP are three of the highest contributors of greenhouse gas emissions. A staggeringRead MoreEssay On Carbon Sands917 Words   |  4 PagesCanada’s top polluting economic sectors are oil and gas and transportation, each accounting for 26% and 24% of total emissions respectively (Environment Canada, 2017). Provinces have different reactions towards Canada’s INDC depending on the sectors that fuel the individual province’s economy. Canada’s tar sands sector is growing more popular nationally and internationally, as it houses the third largest oil reserve in the world with greater than 170 bil lion barrels of oil (â€Å"Canada pulls out of KyotoRead MoreClimate Warming And Its Effects On Climate Change Essay1713 Words   |  7 Pagesin our history we have pushed above our historical temperature range due to emittance of anthropogenic carbon emissions. Scientists are uncertain of how much warming humanity can tolerate before experiencing the most destructive and dangerous effects of climate change, but most believe that two degrees Celsius is a good starting point to aim for. Thus, the stated goal of many international climate dialogs, such as the Paris Agreements, has been to stop the planet from warming an additional two degreesRead MoreHow Engineering Can Work Together With Anthropology1198 Words   |  5 Pagesexplore the effects of global climate change, due to increased carbon emissions. Political ecology, co-management, and tragedy of the commons are three concepts within anthropology which will be used to discuss this issue, and will be defined in detail furthe r in this paper. Climate change can be defined as the change in global or regional climate patterns due to human activity. The World Wildlife Fund (2012) has found that the main contributor towards climate change to be the increased levels ofRead MoreThe Carbon Pollution Reduction Scheme1018 Words   |  4 PagesTim Randall Reducing carbon dioxide emissions, an ostensible catalyst for global climate change, has become a priority for many of the G-20 economies and developed world since the Kyoto protocol was enacted. Countries have developed a myriad of mechanisms designed to drastically reduce their sovereign carbon footprint, yet from these diverse policy directives a new commodity was created in the form of emission reductions or removals; carbon is now tracked and traded like any other commodity.Read MoreClimate Change : An Effective Method Of Improving Air Quality During This Transition1676 Words   |  7 PagesDefining climate change is crucial in the process of building agreements among scientists, policy makers and the public. The UNFCCC defines climate change as a significant change in global climate patterns caused by the alteration of earth’s atmosphere due to high carbon emissions. Climate change is a timely, controversial and significant topic. Global temperature has been increasing since the start of the Industrial Revolution and climate specialists have put forth an array of compelling evidenceRead MoreEuropean Union ( Eu ) Action1502 Words   |  7 Pagesother GHG emissions. In 2005, the EU establishes an effective system, which is EU Emissions Trading Scheme (EU ETS) (European Communities, 2013). The EU ETS considers as effective system to combat climate change and tool to reduce CO2 and other GHG (European Communities, 2015). The EU ETS has biggest and first main emissions trading in the world. This system includes 28 countries from the EU as well Iceland, Liechtenstein and Norway. This trading scheme puts price on each ton of carbon emissions. As the