http://www.aei.org/article/energy-and-the-environment/climate-change/solar-radiation-management-an-evolving-climate-policy-option-paper/

Executive Summary

Measures to reduce greenhouse gas (GHG) emissions have long dominated
public discourse about responses to man-made climate change. However, major
institutional and political hurdles dim future prospects for controlling
emissions. While adaptation to climate change can accomplish much, flawed
institutions are likely to limit its efficacy. Solar radiation management
(SRM) appears to promise at least some capacity to offset the warming
caused by the rising atmospheric GHG concentrations. SRM would seek to
enhance and manage physical processes that currently reflect sunlight back
into space. For example, most researchers have envisioned implementing this
concept by adding to the layer of sulfuric acid that is already present in
the lower stratosphere. All else remaining equal, global mean temperatures
would fall even though GHG levels would not; the Intergovernmental Panel on
Climate Change estimates that physical processes such as these already
offset about 40 percent of global warming. By lessening the rise in
temperature, SRM might lessen some of the risks of global warming. Recent
technical developments have advanced our understanding of important aspects
of SRM. First, the regional impacts of SRM will be variable and these
differences are likely to become a source of disagreement regarding SRM
deployment. Second, given the uncertainties about SRM technologies, there
is a pressing need for research and development funding. Third, in contrast
to GHG control, SRM may offer a cost-effective way of managing the risk of
crossing climate tipping points. The debate over SRM continues to evolve
slowly. Two trends are visible. First, climate change as an issue has lost
political salience. Second, SRM’s visibility has been rising. The greater
focus on SRM has led to a growing debate about its proper governance. So
far, only a very narrow range of experts and interests have joined this
debate. Even so, no consensus seems to be at hand. Disagreement exists even
among environmental advocacy groups. The economic benefits of a successful
SRM program would flow from a reduction in climate damages owing to
warming, and a reduction in economic damage caused by GHG controls.
Determining the optimal amount of GHG controls to implement in the presence
of SRM is an ongoing research effort. Some argue (1) that SRM should be
held in reserve and only used in the case of an “emergency,” which is never
precisely defined, and (2) that no change should be made to plans for
emissions reductions such as they are. Others suggest that SRM may augment
an emissions reduction program by providing near-term benefits and risk
reduction while low carbon energy sources are developed. SRM’s precise
value remains uncertain; however, it seems clear that its potential benefit
is very large—on par with the damages brought by climate change itself. In
other words, if climate change is a significant problem, then SRM could be
part of a significant solution. The incentives for using SRM appear to be
stronger than those for GHG control. Much analysis has used this valid
point to conjecture that SRM would be easy to deploy—indeed, that it would
be too easy. This fear is largely misguided. Global power politics militate
against any state bidding for sole control of an SRM system. In short, SRM
remains a speculative option; nonetheless, a workable SRM system could
offer a highly useful backup and supplement to current policy options

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