Topic 19&20: Climate Change

Question 1

Albedo

Answer 1

Fraction of solar radiation reflected surface or object

Snow-covered surfaces: high albedo

Soil ranges from high to low

Vegetation-covered surfaces and oceans have low albedo

Question 2

Global mean surface temp

Answer 2

Estimate of global mean surface air temp

Only anomalies used

Most commonly based on area-weighted global avg of sea surface temp anomaly and land surface air temp anomaly

Question 3

Economic effects of climate change

Answer 3

Difficult to measure

Depends on assumptions

Highly uncertain- should include confidence intervals on estimate

Question 4

Current CO2 conc

Answer 4

420 ppm

Question 5

Since 1959, global mean temp increased by approx (according to IPCC)

Answer 5

0.5 degrees C

Question 6

Paris Conference

Answer 6

Agreed to limit global mean temp increases to 2 degrees centigrade

Through country action plans

Question 7

Emission reduction funf

Answer 7

Spend about $2.5 billion up to May 2017 on projects that reduce CO2 emissions from land management

Runs revers auction for projects to reduce emissions

Question 8

Prisoner’s dilrmma

Answer 8

Countries who sign treaty act to maximise collective payoff

Question 9

Ramsey formula

Answer 9

Proposed that discount rate should be given by:

r= (rate of impatience) + (aversion to intertemporal inequality)(consumption growth rate)