A carbon sink is a natural or artificial carbon sequestration process that "removes a greenhouse gas, an aerosol or a precursor of a greenhouse gas from the atmosphere". These sinks form an important part of the natural carbon cycle. An overarching term is carbon pool, which is all the places where carbon on Earth can be, i.e. the atmosphere, oceans, soil, florae, fossil fuel reservoirs and so forth. A carbon sink is a type of carbon pool that has the capability to take up more carbon from the atmosphere than it releases.
Environmental economics is a sub-field of economics concerned with environmental issues. It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Environmental economics "undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. ... Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming."
Environmental science is an interdisciplinary academic field that integrates physics, biology, meteorology, mathematics and geography to the study of the environment, and the solution of environmental problems. Environmental science emerged from the fields of natural history and medicine during the Enlightenment. Today it provides an integrated, quantitative, and interdisciplinary approach to the study of environmental systems.
Global dimming is a decline in the amount of sunlight reaching the Earth's surface. It is caused by atmospheric particulate matter, predominantly sulfate aerosols, which are components of air pollution. Global dimming was observed soon after the first systematic measurements of solar irradiance began in the 1950s. This weakening of visible sunlight proceeded at the rate of 4–5% per decade until the 1980s. During these years, air pollution increased due to post-war industrialization. Solar activity did not vary more than the usual during this period.
Social cost in neoclassical economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the transaction for which they are not compensated or charged. In other words, it is the sum of private and external costs. This might be applied to any number of economic problems: for example, social cost of carbon has been explored to better understand the costs of carbon emissions for proposed economic solutions such as a carbon tax.
Steve Keen is an Australian economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific, and empirically unsupported.
The green gross domestic product is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity, and accounts for costs caused by climate change. Some environmental experts prefer physical indicators, which may be aggregated to indices such as the "Sustainable Development Index".
The Second Assessment Report (SAR) of the Intergovernmental Panel on Climate Change (IPCC), published in 1995, is an assessment of the then available scientific and socio-economic information on climate change. The report was split into four parts: a synthesis to help interpret UNFCCC article 2, The Science of Climate Change, Impacts, Adaptations and Mitigation of Climate Change, Economic and Social Dimensions of Climate Change. Each of the last three parts was completed by a separate Working Group (WG), and each has a Summary for Policymakers (SPM) that represents a consensus of national representatives.
An economic analysis of climate change uses economic tools and models to calculate the magnitude and distribution of damages caused by climate change. It can also give guidance for the best policies for mitigation and adaptation to climate change from an economic perspective. There are many economic models and frameworks. For example, in a cost–benefit analysis, the trade offs between climate change impacts, adaptation, and mitigation are made explicit. For this kind of analysis, integrated assessment models (IAMs) are useful. Those models link main features of society and economy with the biosphere and atmosphere into one modelling framework. The total economic impacts from climate change are difficult to estimate. In general, they increase the more the global surface temperature increases.
William Dawbney Nordhaus is an American economist. He was a Sterling Professor of Economics at Yale University, best known for his work in economic modeling and climate change, and a co-recipient of the 2018 Nobel Memorial Prize in Economic Sciences. Nordhaus received the prize "for integrating climate change into long-run macroeconomic analysis".
The Stern Review on the Economics of Climate Change is a 700-page report released for the Government of the United Kingdom on 30 October 2006 by economist Nicholas Stern, chair of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics (LSE) and also chair of the Centre for Climate Change Economics and Policy (CCCEP) at Leeds University and LSE. The report discusses the effect of global warming on the world economy. Although not the first economic report on climate change, it is significant as the largest and most widely known and discussed report of its kind.
The social cost of carbon (SCC) is the marginal cost of the impacts caused by emitting one extra tonne of carbon emissions at any point in time. The purpose of putting a price on a tonne of emitted CO2 is to aid policymakers or other legislators in evaluating whether a policy designed to curb climate change is justified. The social cost of carbon is a calculation focused on taking corrective measures on climate change which can be deemed a form of market failure. The only governments which use the SCC are in North America. The Intergovernmental Panel on Climate Change suggested that a carbon price of $100 per tonne of CO2 could reduce global GHG emissions by at least half the 2019 level by 2030.
In economics, a spillover is a positive or a negative, but more often negative, impact experienced in one region or across the world due to an independent event occurring from an unrelated environment.
Climate change in California has resulted in higher than average temperatures, leading to increased occurrences of droughts and wildfires. Over the next few decades in California, climate change is predicted to further reduce water availability, increase wildfire risk, decrease agricultural productivity, and threaten coastal ecosystems. The state could also be impacted economically due to the rising cost of providing water to its residents along with revenue and job loss in the agricultural sector. Economic impacts also include inflation from rising insurance premiums, energy costs and food prices. California has taken a number of steps to mitigate impacts of climate change in the state.
Stratospheric aerosol injection (SAI) is a proposed method of solar geoengineering to reduce global warming. This would introduce aerosols into the stratosphere to create a cooling effect via global dimming and increased albedo, which occurs naturally from volcanic winter. It appears that stratospheric aerosol injection, at a moderate intensity, could counter most changes to temperature and precipitation, take effect rapidly, have low direct implementation costs, and be reversible in its direct climatic effects. The Intergovernmental Panel on Climate Change concludes that it "is the most-researched [solar geoengineering] method that it could limit warming to below 1.5 °C (2.7 °F)." However, like other solar geoengineering approaches, stratospheric aerosol injection would do so imperfectly and other effects are possible, particularly if used in a suboptimal manner.
The environmental impact of the energy industry is significant, as energy and natural resource consumption are closely related. Producing, transporting, or consuming energy all have an environmental impact. Energy has been harnessed by human beings for millennia. Initially it was with the use of fire for light, heat, cooking and for safety, and its use can be traced back at least 1.9 million years. In recent years there has been a trend towards the increased commercialization of various renewable energy sources. Scientific consensus on some of the main human activities that contribute to global warming are considered to be increasing concentrations of greenhouse gases, causing a warming effect, global changes to land surface, such as deforestation, for a warming effect, increasing concentrations of aerosols, mainly for a cooling effect.
The Dynamic Integrated Climate-Economy model, referred to as the DICE model or Dice model, is a neoclassical integrated assessment model developed by 2018 Nobel Laureate William Nordhaus that integrates in the neoclassical economics, carbon cycle, climate science, and estimated impacts allowing the weighing of subjectively guessed costs and subjectively guessed benefits of taking steps to slow climate change. Nordhaus also developed the RICE model, a variant of the DICE model that was updated and developed alongside the DICE model. Researchers who collaborated with Nordhaus to develop the model include David Popp, Zili Yang, and Joseph Boyer.
Climate change is evident in Kyrgyzstan. Among the countries in Eastern Europe and Central Asia, Kyrgyzstan is the third most vulnerable to the effects of climate change, such as changes in weather patterns that could lead to prolonged periods of precipitation and drought. Moreover, the frequent occurrence of extreme weather and climate events such as heatwaves, droughts, heavy rainfalls, and biotic/abiotic catastrophes during recent years are evidence of climate change. Kyrgyzstan is threatened with glacier melting and a lack of freshwater balance, which are accelerated by global warming. The average temperature has increased from 4.8 °C to 6 °C so far within the last 20 years. In 2013 the World Bank estimated a likely increase of 2 °C in average mean temperature by 2060 and of 4–5 °C by 2100, noting that the country's glaciers were significantly reduced and projected to decline further. A significant warming trend in Kyrgyztsan with a projected increase of 6°C under the Shared Socioeconomic Pathway (SSP) scenario SSP5-8.5 from 2076 to 2096. However the very slight increase in temperature is expected to positively affect climate-sensitive sectors such as agriculture, energy, and forestry as more land is within the optimum temperature band.
Climate communication or climate change communication is a field of environmental communication and science communication focused on discussing the causes, nature and effects of anthropogenic climate change.
Nadine Unger is a Professor of Atmospheric Chemistry at the University of Exeter. She has studied the role of human activities and forests on the Earth's climate.
