Climate Change & Int Coop: Climate Change

Question 1

Give a rough summary of the science of global warming

Answer 1

Greenhouse (GHGs) absorb infra red radiation from the earth’s surface and atmosphere, which, traps heat that would otherwise radiate into space

Question 2

Name 3 problematic GHGs

Answer 2

Water vapour

Methane

CO2

Question 3

What are the IPCCs findings regarding global warming

Answer 3

Most warming over the last 250 years is likely due to human activity

Question 4

What are the 2 principle sources of warming?

Answer 4

CO2 emissions from fossil fuels and land clearing

Methane from agriculture (demand for meat)

Question 5

What 2 things should now be considered, accounting for the fact that humans have already induced some global warming (the effects of which will continue to be felt in future)?

Answer 5

Mitigation

AND

Adaptation

Question 6

What problems might warming cause for productivity and output?

Answer 6

Above a certain temperature worker productivity drops massively

Question 7

What issues does the non-linear nature of climate change cause?

Answer 7

Makes it difficult to predict the effects of climate change

Question 8

Give 6 of the IPCCs projected impacts of climate change

Answer 8

Contracting snow cover / polar sea ice

Sea level rise

Severe impacts to developing countries who have no resources to adapt

Irreversible damage to vulnerable ecosystems

Increased frequency/magnitude of extreme weather events

Question 9

What potential tipping element is considered to be of immediate concern regarding climate change?

(2 points)

Answer 9

The possibility of the summer Arctic sea ice largely disappearing

(The tipping point is likely to be at less than a 2 degree global temperature increase)

Question 10

By how much did global CO2 emissions increase between 1990 and 2006?

Answer 10

35%

Question 11

What is the trend over time of the amount of carbon required to produce $1 of GDP?

Explain

(3 points in total)

Answer 11

It is a decreasing trend

i.e. technological efficiency is increasing

However growth increases have overcompensated for this improvement, hence CO2 is still rising

Question 12

What is the Keeling curve?

Why is it a good indicator

Answer 12

Measure of CO2 levels in Hawaii from 1958 to present

Good measure because it is not located near any significant pollution sources

Question 13

From what period have temperatures been increasing according to scientific evidence?

Answer 13

From the middle of the industrial revolution

Question 14

What are the upper and lower limits of projected 2100 temperatures in the IPCCs AR4 model?

Answer 14

1.8 - 3.4 degrees

Question 15

Give one issue with pollution reduction regarding CO2

Answer 15

There is no price on carbon, hence no incentive to reduce pollution

Question 16

Name 3 important players in the climate change discussion

Answer 16

Nicolas Stern

William Nordhaus

Martin Weitzman

Question 17

What does Stern suggest regarding discount rates and climate change?

(3 points)

Answer 17

Estimates a low discount rate = 1.4% (great concern for the future)

Hence the price of carbon is very high ($85 per ton of CO2)

“Big bang” - action should be taken immediately

Question 18

Why is the Stern Review criticised?

3 points

Answer 18

It was written in a short period of time

It has not been peer reviewed

The information used for the report is not available to other researchers, so it’s accuracy cannot be properly evaluated

Question 19

When was the Stern Review published?

Answer 19

2006

Question 20

What model did Nordhaus use?

What discount rate does he suggest?

Answer 20

A “Dynamic Integrated Climate-Economy Model”

High discount rate = 5.5%

Question 21

What does Nordhaus suggest regarding carbon and climate change?

Answer 21

Optimal carbon tax would be $35 per ton of CO2

Suggests a “policy ramp”

Question 22

Outline Nordhaus’s “policy ramp” concept

2 points

Answer 22

Short-run: Invest in green research and development

Long-run: As better technologies/abatement mechanisms are discovered start to reduce emissions. Increase abatement as damage rises.