The Economic Case for Action against Climate Change
Prof Sam Fankhauser , from the Grantham Research Institute at the LSE , discussed the economic considerations and the policy case for action on emissions. Conventional cost benefit analysis (CBA) had been successful in exposing the sensitivity of policy questions to a range of specifics, such as the discount rate, but thinking was moving towards insurance principle, or“rational risk management”. Climate policy was not per se a major issue for public finance, nor need it inhibit “Green growth”. Recession was no reason to delay the low-carbon transition, but it had undermined the price signals intended by the EU ETS. UK/EU leadership on climate issues was “at risk”, and we should look outside at countries like China where the dynamics of policy was changing rapidly.
Categories: Energy economics, Energy policy, Meetings
Tags: Climate policies, cost benefit analysis, Decarbonisation, EU, International, LSE, parker seminars, Risk management, UK
The-Economic-Case.pdf 540.17 KBFeb
2013
