https://dspace.library.uu.nl/handle/1874/367802
The Impact of Solar Radiation Management on Optimal Climate Policy in an Uncertain WorldDSpace/Manakin Repository The Impact of Solar Radiation Management on Optimal Climate Policy in an Uncertain World Helwegen, K.G. (2018) Faculty of Science Theses (Master thesis) Abstract Progress on global emission reduction is slow and the risks associated with multiple degrees of warming are dire. People point to geoengineering methods as potential new tools in climate change policy. However, there is strong uncertainty about the effectiveness, costs and side-effects of these methods, which is unlikely to befully resolved in the near future. This poses a challenge to decision makers, who are forced to develop policies while the costs, benefits and risks are largely unknown. Here we consider Solar Radiation Management (SRM), the most promising geoengineering technique. For the first time, we use rigorous methods to solve the social planner problem for SRM and calculate its effects on the Social Cost of Carbon (SCC), while taking into account uncertainty about SRM deployment and the possibility of climate tipping. Our analysis yields two main conclusions. First, SRM should not be seen as a substitute for abatement: by itself it cannot stabilize temperatures, and relying solely on SRM adversely effects human well-being, especially in the long term. Second, SRM has the potential to significantly improve the prospects of human well-being, partly by reducing tipping risks, even when high costs, large damages and uncertainty in deployment are considered. We also show that the timescale at which SRM is expected to become available is an important factor in determining the optimal policy. These conclusions provide quantitative support to current ideas on the role of geoengineering in climate policy and encourage researchers and policy-makers to further explore these tools -- You received this message because you are subscribed to the Google Groups "geoengineering" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at https://groups.google.com/group/geoengineering. For more options, visit https://groups.google.com/d/optout.
