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Adaptation, mitigation and risk-taking in climate policy

The future consequences of climate change are highly uncertain and estimates of economic damages differ widely. Governments try to cope with these risks by investing in mitigation and adaptation measures. In contrast to most of the existing literature, we explicitly model the decision of risk averse governments on mitigation and adaptation policies. We also consider the interaction of the two strategies in presence of uncertainty. Mitigation efforts of a single country trigger crowding out as other countries will reduce their mitigation efforts. This may even lead to lower mitigation on the global scale. In contrast, a unilateral commitment to large adaptation efforts benefits the single country and can reduce the global risk from climate change at the expense of other countries.

Identiferoai:union.ndltd.org:DRESDEN/oai:qucosa:de:qucosa:85834
Date06 June 2023
CreatorsAuerswald, Heike, Konrad, Kai A., Thum, Marcel
PublisherSpringer
Source SetsHochschulschriftenserver (HSSS) der SLUB Dresden
LanguageEnglish
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/acceptedVersion, doc-type:article, info:eu-repo/semantics/article, doc-type:Text
Rightsinfo:eu-repo/semantics/openAccess
Relation1617-7134, 10.1007/s00712-017-0579-8, info:eu-repo/grantAgreement/Bundesministerium für Bildung und Forschung/Economics of Climate Change/01LA1106A/

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