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.mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Lead_too_short plainlinks metadata ambox ambox-content ambox-lead_too_short" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Wiki_letter_w.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/6/6c/Wiki_letter_w.svg/40px-Wiki_letter_w.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/6/6c/Wiki_letter_w.svg/60px-Wiki_letter_w.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/6/6c/Wiki_letter_w.svg/80px-Wiki_letter_w.svg.png 2x" data-file-width="44" data-file-height="44" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This article's <a href="/wiki/Wikipedia:Manual_of_Style/Lead_section#Length" title="Wikipedia:Manual of Style/Lead section">lead section</a> <b>may be too short to adequately <a href="/wiki/Wikipedia:Summary_style" title="Wikipedia:Summary style">summarize</a> the key points</b>.<span class="hide-when-compact"> Please consider expanding the lead to <a href="/wiki/Wikipedia:Manual_of_Style/Lead_section#Provide_an_accessible_overview" title="Wikipedia:Manual of Style/Lead section">provide an accessible overview</a> of all important aspects of the article.</span> <span class="date-container"><i>(<span class="date">November 2020</span>)</i></span></div></td></tr></tbody></table> <p class="mw-empty-elt"> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/90/20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg/300px-20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg.png" decoding="async" width="300" height="169" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/90/20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg/450px-20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/90/20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg/600px-20210119_Renewable_energy_investment_-_2004-_BloombergNEF.svg.png 2x" data-file-width="1200" data-file-height="675" /></a><figcaption>Companies, governments and households have committed increasing amounts to decarbonization, including renewable energy (solar, wind), electric vehicles and associated charging infrastructure, energy storage, energy-efficient heating systems, carbon capture and storage, and hydrogen.<sup id="cite_ref-BloombergNEF_20210119_1-0" class="reference"><a href="#cite_note-BloombergNEF_20210119-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-BloombergNEF_20230126_2-0" class="reference"><a href="#cite_note-BloombergNEF_20230126-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-BNEF_20240130_3-0" class="reference"><a href="#cite_note-BNEF_20240130-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></figcaption></figure> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl 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.sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Economics" title="Category:Economics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="border-top:1px #fafafa solid; border-bottom:1px #fafafa solid; background:#efefef;padding:0.2em;font-size:200%;"><a href="/wiki/Economics" title="Economics">Economics</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Supply-demand-equilibrium.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/120px-Supply-demand-equilibrium.svg.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/180px-Supply-demand-equilibrium.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/240px-Supply-demand-equilibrium.svg.png 2x" data-file-width="217" data-file-height="217" /></a></span></td></tr><tr><td class="sidebar-above"> <ul><li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li></ul></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Branches and <a href="/wiki/JEL_classification_codes" title="JEL classification codes">classifications</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/International_economics" title="International economics">International</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Micro</a> / <a href="/wiki/Macroeconomics" title="Macroeconomics">Macro</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Economic_methodology" title="Economic methodology">Methodology</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political</a></li> <li><a href="/wiki/JEL_classification_codes" title="JEL classification codes">JEL classification codes</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Concepts, theory and techniques</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Economic growth</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounting</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Middle_income_trap" title="Middle income trap">Middle income trap</a></li> <li><a href="/wiki/Industrial_complex" title="Industrial complex">Industrial complex</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">By application</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agricultural</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Notable <a href="/wiki/Economist" title="Economist">economists</a></div><div class="sidebar-list-content mw-collapsible-content"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a 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<li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" 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ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics_sidebar" title="Template:Economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics_sidebar" title="Template talk:Economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics_sidebar" title="Special:EditPage/Template:Economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The <b>economics of climate change mitigation</b> is a contentious part of <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">climate change mitigation</a> – action aimed to limit the dangerous socio-economic and environmental consequences of <a href="/wiki/Climate_change" title="Climate change">climate change</a>.<sup id="cite_ref-fisher_4-0" class="reference"><a href="#cite_note-fisher-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Climate change mitigation centres on two main strategies: the reduction of <a href="/wiki/Greenhouse_gas_emissions" title="Greenhouse gas emissions">greenhouse gas (GHG) emissions</a> and the preservation and expansion of <a href="/wiki/Carbon_sink" title="Carbon sink">sinks</a> which absorb greenhouse gases, including the sea and forests. </p><p>The economics of climate change mitigation are a central point of contention whose considerations significantly affect the level of climate action at every level from local to global. </p><p>For example, higher <a href="/wiki/Interest_rate" title="Interest rate">interest rates</a> are slowing <a href="/wiki/Solar_panel" title="Solar panel">solar panel</a> installation in <a href="/wiki/Developing_country" title="Developing country">developing countries</a>.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p> <style data-mw-deduplicate="TemplateStyles:r886046785">.mw-parser-output .toclimit-2 .toclevel-1 ul,.mw-parser-output .toclimit-3 .toclevel-2 ul,.mw-parser-output .toclimit-4 .toclevel-3 ul,.mw-parser-output .toclimit-5 .toclevel-4 ul,.mw-parser-output .toclimit-6 .toclevel-5 ul,.mw-parser-output .toclimit-7 .toclevel-6 ul{display:none}</style><div class="toclimit-3"><meta property="mw:PageProp/toc" /></div> <div class="mw-heading mw-heading2"><h2 id="Policies_and_approaches_to_reduce_emissions">Policies and approaches to reduce emissions</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=1" title="Edit section: Policies and approaches to reduce emissions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Climate change mitigation</a></div> <div class="mw-heading mw-heading3"><h3 id="Price_signals">Price signals</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=2" title="Edit section: Price signals"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A <a href="/wiki/Carbon_price" title="Carbon price">carbon price</a> is a system of applying a price to carbon emissions, as a method of emissions mitigation.<sup id="cite_ref-:42_6-0" class="reference"><a href="#cite_note-:42-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Potential methods of pricing include <a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">carbon emission trading</a>, results-based <a href="/wiki/Climate_finance" title="Climate finance">climate finance</a>, crediting mechanisms and more.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Carbon pricing can lend itself to the creation of carbon taxes, which allows governments to tax emissions.<sup id="cite_ref-:42_6-1" class="reference"><a href="#cite_note-:42-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Carbon_tax" title="Carbon tax">Carbon taxes</a> are considered useful because, once a number<sup class="noprint Inline-Template" style="margin-left:0.1em; white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify"><span title="The text near this tag may need clarification or removal of jargon. (December 2023)">clarification needed</span></a></i>]</sup> has been created, it will benefit the government either with currency or with a lowering in emissions or both, and therefore benefit the environment.<sup id="cite_ref-:5_8-0" class="reference"><a href="#cite_note-:5-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> It is almost a consensus that carbon taxing is the most cost-effective method of having a substantial and rapid response to climate change and carbon emissions.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> However, backlash to the tax includes that it can be considered regressive, as the impact can be damaging disproportionately to the poor who spend much of their income on energy for their homes.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Still, even with near universal approval, there are issues regarding both the collection and redistribution of the taxes. One of the central questions being how the newly collected taxes will be redistributed.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>Some or all of the proceeds of a carbon tax can be used to stop it disadvantaging the poor.<sup id="cite_ref-:0_12-0" class="reference"><a href="#cite_note-:0-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Structural_market_reforms">Structural market reforms</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=3" title="Edit section: Structural market reforms"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Emissions_trading" title="Emissions trading">Emissions trading</a></div> <p>In addition to the implementation of <a href="/wiki/Command_and_control_regulation" title="Command and control regulation">command-and-control regulations</a> (as with a carbon tax), governments can also use <a href="/wiki/Market-based_environmental_policy_instruments" title="Market-based environmental policy instruments">market-based</a> approaches to mitigate emissions. One such method is emissions trading where governments set the total emissions of all polluters to a maximum and distribute permits, through auction or allocation, that allow entities to emit a portion, typically one ton of carbon dioxide equivalent (CO<sub>2</sub>e), of the mandated total emissions.<sup id="cite_ref-glossary23_13-0" class="reference"><a href="#cite_note-glossary23-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> In other words, the amount of pollution an entity can emit in an emissions trading system is limited by the number of permits they have. If a polluter wants to increase their emissions, they can only do so after buying permits from those who are willing to sell them.<sup id="cite_ref-:54_14-0" class="reference"><a href="#cite_note-:54-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Many economists prefer this method of reducing emissions as it is market based and highly cost effective.<sup id="cite_ref-glossary23_13-1" class="reference"><a href="#cite_note-glossary23-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> That being said, emissions trading alone is not perfect since it fails to place a clear price on emissions. Without this price, emissions prices are volatile due to the supply of permits being fixed, meaning their price is entirely determined by shifts in demand.<sup id="cite_ref-:05_15-0" class="reference"><a href="#cite_note-:05-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> This uncertainty in price is especially disliked by businesses since it prevents them from investing in abatement technologies with confidence which hinders efforts for mitigating emissions.<sup id="cite_ref-:05_15-1" class="reference"><a href="#cite_note-:05-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Regardless, while emissions trading alone has its problems and cannot reduce pollutants to the point of stabilizing the global <a href="/wiki/Climate" title="Climate">climate</a>, it remains an important tool for addressing climate change. </p> <div class="mw-heading mw-heading3"><h3 id="Degrowth">Degrowth</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=4" title="Edit section: Degrowth"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>There is a debate about a potentially critical need for new ways of economic accounting, including directly monitoring and <a href="/wiki/Value_(economics)" title="Value (economics)">quantifying</a> positive real-world environmental effects such as air quality improvements and related unprofitable <a href="/wiki/Work_(human_activity)" title="Work (human activity)">work</a> like forest protection, alongside far-reaching structural changes of lifestyles<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> as well as acknowledging and moving beyond the limits of current economics such as GDP.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Some argue that for effective climate change mitigation <a href="/wiki/Degrowth" title="Degrowth">degrowth</a> has to occur, while some argue that <a href="/wiki/Eco-economic_decoupling" title="Eco-economic decoupling">eco-economic decoupling</a> could limit climate change enough while continuing high rates of traditional GDP growth.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> There is also research and debate about requirements of how <a href="/wiki/Economic_system" title="Economic system">economic systems</a> could be transformed for <a href="/wiki/Sustainability" title="Sustainability">sustainability</a> – such as how their jobs could transition harmonously into <a href="/wiki/Green_job" title="Green job">green jobs</a> – a <a href="/wiki/Just_transition" title="Just transition">just transition</a> – and how relevant sectors of the economy – like the <a href="/wiki/Renewable_energy_industry" title="Renewable energy industry">renewable energy industry</a> and the <a href="/wiki/Bioeconomy" title="Bioeconomy">bioeconomy</a> – could be adequately supported.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>While degrowth is often believed to be associated with decreased <a href="/wiki/Living_standard" class="mw-redirect" title="Living standard">living standards</a> and <a href="/wiki/Austerity" title="Austerity">austerity</a> measures, many of its proponents seek to expand universal public goods<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> (such as public transport), increase health<sup id="cite_ref-10.1057/s41285-017-0032-7_25-0" class="reference"><a href="#cite_note-10.1057/s41285-017-0032-7-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> (fitness, wellbeing<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> and freedom from diseases) and increase various forms of, often unconventional commons-oriented,<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> labor. To this end, the application of both advanced technologies and reductions in various demands, including via overall reduced labor time<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> or sufficiency-oriented strategies,<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> are considered to be important by some.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-10.1016/j.gloenvcha.2020.102168_33-0" class="reference"><a href="#cite_note-10.1016/j.gloenvcha.2020.102168-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Finance">Finance</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=5" title="Edit section: Finance"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="excerpt-block"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="/wiki/Climate_finance" title="Climate finance">Climate finance</a>.<span class="mw-editsection-like plainlinks"><span class="mw-editsection-bracket">[</span><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Climate_finance&action=edit">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt"> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/75/2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg/220px-2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg.png" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/75/2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg/330px-2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/75/2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg/440px-2015-_Clean_energy_vs_fossil_fuel_investment_-_IEA.svg.png 2x" data-file-width="1000" data-file-height="750" /></a><figcaption>Investments in <a href="/wiki/Sustainable_energy" title="Sustainable energy">sustainable energy</a> (clean energy) is an example of climate finance. As of 2023, it has increased due to high <a href="/wiki/Fossil_fuel" title="Fossil fuel">fossil fuel</a> prices and growing policy support across various nations.<sup id="cite_ref-Climate_finance_IEA_20230525_34-0" class="reference"><a href="#cite_note-Climate_finance_IEA_20230525-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup></figcaption></figure><a href="/wiki/Climate_finance" title="Climate finance">Climate finance</a> is an umbrella term for financial resources such as loans, grants, or domestic budget allocations for <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">climate change mitigation</a>, <a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">adaptation</a> or <a href="/wiki/Climate_resilience" title="Climate resilience">resiliency</a>. Finance can come from private and public sources. It can be channeled by various intermediaries such as <a href="/wiki/International_financial_institutions" title="International financial institutions">multilateral development banks</a> or other development agencies. Those agencies are particularly important for the transfer of public resources from developed to developing countries in light of <a href="/wiki/United_Nations_Framework_Convention_on_Climate_Change" title="United Nations Framework Convention on Climate Change">UN Climate Convention</a> obligations that developed countries have.<sup id="cite_ref-Climate_finance_:15_35-0" class="reference"><a href="#cite_note-Climate_finance_:15-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 7">: 7 </span></sup> <p>There are two main sub-categories of climate finance based on different aims. <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Mitigation</a> finance is investment that aims to reduce global <a href="/wiki/Carbon_emissions" class="mw-redirect" title="Carbon emissions">carbon emissions</a>. <a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">Adaptation</a> finance aims to respond to the consequences of climate change.<sup id="cite_ref-Climate_finance_:6_36-0" class="reference"><a href="#cite_note-Climate_finance_:6-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> Globally, there is a much greater focus on mitigation, accounting for over 90% of spending on climate.<sup id="cite_ref-Climate_finance_:14_37-0" class="reference"><a href="#cite_note-Climate_finance_:14-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Climate_finance_:11_38-0" class="reference"><a href="#cite_note-Climate_finance_:11-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 2590">: 2590 </span></sup> <a href="/wiki/Renewable_energy" title="Renewable energy">Renewable energy</a> is an important growth area for mitigation investment and has growing policy support.<sup id="cite_ref-Climate_finance_:5_39-0" class="reference"><a href="#cite_note-Climate_finance_:5-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 5">: 5 </span></sup> </p><p>Finance can come from private and public sources, and sometimes the two can intersect to create financial solutions. It is widely recognized that public budgets will be insufficient to meet the total needs for climate finance, and that private finance will be important to close the finance gap.<sup id="cite_ref-Climate_finance_:10_40-0" class="reference"><a href="#cite_note-Climate_finance_:10-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 16">: 16 </span></sup> Many different financial models or instruments have been used for financing climate actions. For example <a href="/wiki/Green_bond" title="Green bond">green bonds</a>, <a href="/wiki/Carbon_offsets_and_credits" title="Carbon offsets and credits">carbon offsetting</a>, and <a href="/wiki/Payment_for_ecosystem_services" title="Payment for ecosystem services">payment for ecosystem services</a> are some promoted solutions. There is considerable innovation in this area. Transfer of solutions that were not developed specifically for climate finance is also taking place, such as <a href="/wiki/Public%E2%80%93private_partnership" title="Public–private partnership">public–private partnerships</a> and <a href="/wiki/Blended_finance" title="Blended finance">blended finance</a>. </p> There are many challenges with climate finance. Firstly, there are difficulties with measuring and tracking financial flows. Secondly, there are also questions around equitable financial support to developing countries for cutting emissions and adapting to impacts. It is also difficult to provide suitable incentives for investments from the private sector.</div></div> <div class="mw-heading mw-heading2"><h2 id="Assessing_costs_and_benefits">Assessing costs and benefits</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=6" title="Edit section: Assessing costs and benefits"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="GDP">GDP</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=7" title="Edit section: GDP"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The costs of mitigation and adaptation policies can be measured as a percentage of GDP. A problem with this method of assessing costs is that GDP is an imperfect measure of welfare.<sup id="cite_ref-markandya_41-0" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 478">: 478 </span></sup> There are <a href="/wiki/Externality" title="Externality">externalities</a> in the economy which mean that some prices might not be truly reflective of their <a href="/wiki/Social_cost" title="Social cost">social costs</a>. </p><p>Corrections can be made to GDP estimates to allow for these problems, but they are difficult to calculate. In response to this problem, some have suggested using other methods to assess policy. For example, the <a href="/wiki/Earth_Summit#Commission_for_Sustainable_Development_(CSD)" title="Earth Summit">United Nations Commission for Sustainable Development</a> has developed a system for <a href="/wiki/Green_gross_domestic_product" title="Green gross domestic product">"Green" GDP</a> accounting and a list of <a href="/wiki/Sustainable_development" title="Sustainable development">sustainable development</a> indicators. </p> <div class="mw-heading mw-heading3"><h3 id="Baselines">Baselines</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=8" title="Edit section: Baselines"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Climate_change_scenario#Baseline_scenarios" title="Climate change scenario">Climate change scenario § Baseline scenarios</a></div> <p>The emissions baseline is, by definition, the emissions that would occur in the absence of policy intervention. Definition of the baseline scenario is critical in the assessment of mitigation costs.<sup id="cite_ref-markandya_41-1" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 469">: 469 </span></sup> This because the baseline determines the potential for emissions reductions, and the costs of implementing emission reduction policies. </p><p>There are several concepts used in the literature over baselines, including the "efficient" and "business-as-usual" (BAU) baseline cases. In the efficient baseline, it is assumed that all resources are being employed efficiently. In the BAU case, it is assumed that future development trends follow those of the past, and no changes in policies will take place. The BAU baseline is often associated with high GHG emissions, and may reflect the continuation of current energy-subsidy policies, or other market failures. </p><p>Some high emission BAU baselines imply relatively low net mitigation costs per unit of emissions. If the BAU scenario projects a large growth in emissions, total mitigation costs can be relatively high. Conversely, in an efficient baseline, mitigation costs per unit of emissions can be relatively high, but total mitigation costs low.<sup class="noprint Inline-Template" style="margin-left:0.1em; white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify"><span title="The text near this tag may need clarification or removal of jargon. (November 2019)">clarification needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Ancillary_impacts">Ancillary impacts</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=9" title="Edit section: Ancillary impacts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>These are the secondary or side effects of mitigation policies, and including them in studies can result in higher or lower mitigation cost estimates.<sup id="cite_ref-markandya_41-2" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 455">: 455 </span></sup> Reduced mortality and morbidity costs are potentially a major ancillary benefit of mitigation. This benefit is associated with reduced use of fossil fuels, thereby resulting in less air pollution, which might even just by itself be a benefit greater than the cost.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 48">: 48 </span></sup> There may also be ancillary costs. </p> <div class="mw-heading mw-heading3"><h3 id="Flexibility">Flexibility</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=10" title="Edit section: Flexibility"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Flexibility is the ability to reduce emissions at the lowest cost. The greater the flexibility that governments allow in their regulatory framework to reduce emissions, the lower the potential costs are for achieving emissions reductions (Markandya <i>et al.</i>, 2001:455).<sup id="cite_ref-markandya_41-3" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p> <ul><li>"Where" flexibility allows costs to be reduced by allowing emissions to be cut at locations where it is most efficient to do so. For example, the Flexibility Mechanisms of the Kyoto Protocol allow "where" flexibility (Toth <i>et al.</i>, 2001:660).<sup id="cite_ref-toth_43-0" class="reference"><a href="#cite_note-toth-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup></li> <li>"When" flexibility potentially lowers costs by allowing reductions to be made at a time when it is most efficient to do so.</li></ul> <p>Including carbon sinks in a policy framework is another source of flexibility. Tree planting and forestry management actions can increase the capacity of sinks. <a href="/wiki/Soil" title="Soil">Soils</a> and other types of vegetation are also potential sinks. There is, however, uncertainty over how net emissions are affected by activities in this area.<sup id="cite_ref-markandya_41-4" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="margin-left:0.1em; white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify"><span title="The text near this tag may need clarification or removal of jargon. (November 2019)">clarification needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="No_regrets_options">No regrets options</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=11" title="Edit section: No regrets options"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Technical plainlinks metadata ambox ambox-style ambox-technical" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/40px-Edit-clear.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/60px-Edit-clear.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/80px-Edit-clear.svg.png 2x" data-file-width="48" data-file-height="48" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>may be too technical for most readers to understand</b>.<span class="hide-when-compact"> Please <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Economics_of_climate_change_mitigation&action=edit">help improve it</a> to <a href="/wiki/Wikipedia:Make_technical_articles_understandable" title="Wikipedia:Make technical articles understandable">make it understandable to non-experts</a>, without removing the technical details.</span> <span class="date-container"><i>(<span class="date">November 2019</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>No regret options are social and economic benefits developed under the assumption of taking action and establishing preventative measures in current times without fully knowing what climate change will look like in the future.<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> </p><p>These are emission reduction options which can also make a lot of profit – such as adding solar and wind power.<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: TS-108">: TS-108 </span></sup> </p><p>Different studies make different assumptions about how far the economy is from the production frontier (defined as the maximum outputs attainable with the optimal use of available inputs – natural resources, labour, etc.).<sup id="cite_ref-glossary_47-0" class="reference"><a href="#cite_note-glossary-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> </p><p>The benefits of <a href="/wiki/Coal_phase_out" class="mw-redirect" title="Coal phase out">coal phase out</a> exceed the costs.<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> Switching from cars by improving walking and <a href="/wiki/Cycling_infrastructure" title="Cycling infrastructure">cycling infrastructure</a> is either free or beneficial to a country's economy as a whole.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Technology">Technology</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=12" title="Edit section: Technology"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Assumptions about technological development and efficiency in the baseline and mitigation scenarios have a major impact on mitigation costs, in particular in bottom-up studies.<sup id="cite_ref-markandya_41-5" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> The magnitude of potential technological efficiency improvements depends on assumptions about future technological <a href="/wiki/Innovation" title="Innovation">innovation</a> and <a href="/wiki/Market_penetration" title="Market penetration">market penetration</a> rates for these technologies. </p> <div class="mw-heading mw-heading3"><h3 id="Discount_rates">Discount rates</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=13" title="Edit section: Discount rates"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Discounting" title="Discounting">Discounting</a> and <a href="/wiki/Social_discount_rate" title="Social discount rate">Social discount rate</a></div> <p>Assessing climate change impacts and mitigation policies involves a comparison of economic flows that occur in different points in time. The discount rate is used by economists to compare economic effects occurring at different times. Discounting converts future economic impacts into their present-day value. The discount rate is generally positive because resources invested today can, on average, be transformed into more resources later. If climate change mitigation is viewed as an <a href="/wiki/Investment" title="Investment">investment</a>, then the return on investment can be used to decide how much should be spent on mitigation. </p><p><a href="/wiki/Integrated_assessment_modelling" title="Integrated assessment modelling">Integrated assessment models (IAM)</a> are used to estimate the <a href="/wiki/Social_cost_of_carbon" title="Social cost of carbon">social cost of carbon</a>. The discount rate is one of the factors used in these models. The IAM frequently used is the <a href="/wiki/DICE_model" title="DICE model">Dynamic Integrated Climate-Economy (DICE) model</a> developed by <a href="/wiki/William_Nordhaus" title="William Nordhaus">William Nordhaus</a>. The DICE model uses discount rates, uncertainty, and risks to make benefit and cost estimations of climate policies and adapt to the current economic behavior.<sup id="cite_ref-oup.silverchair-cdn.com_50-0" class="reference"><a href="#cite_note-oup.silverchair-cdn.com-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p><p>The choice of discount rate has a large effect on the result of any climate change cost analysis (Halsnæs <i>et al.</i>, 2007:136).<sup id="cite_ref-halsnaes_51-0" class="reference"><a href="#cite_note-halsnaes-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> Using too high a discount rate will result in too little investment in mitigation, but using too low a rate will result in too much investment in mitigation. In other words, a high discount rate implies that the present-value of a dollar is worth more than the future-value of a dollar. </p><p>Discounting can either be prescriptive or descriptive. The descriptive approach is based on what discount rates are observed in the behaviour of people making every day decisions (the private <a href="/wiki/Discounted_cash_flow" title="Discounted cash flow">discount rate</a>) (IPCC, 2007c:813).<sup id="cite_ref-glossary_47-1" class="reference"><a href="#cite_note-glossary-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> In the prescriptive approach, a discount rate is chosen based on what is thought to be in the best interests of future generations (the <a href="/wiki/Social_discount_rate" title="Social discount rate">social discount rate</a>). </p><p>The descriptive approach can be interpreted<sup class="noprint Inline-Template" style="margin-left:0.1em; white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify"><span title="The text near this tag may need clarification or removal of jargon. (November 2019)">clarification needed</span></a></i>]</sup> as an effort to maximize the economic resources available to future generations, allowing them to decide how to use those resources (Arrow <i>et al.</i>, 1996b:133–134).<sup id="cite_ref-arrow_52-0" class="reference"><a href="#cite_note-arrow-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> The prescriptive approach can be interpreted as an effort to do as much as is economically justified<sup class="noprint Inline-Template" style="margin-left:0.1em; white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify"><span title="The text near this tag may need clarification or removal of jargon. (November 2019)">clarification needed</span></a></i>]</sup> to reduce the risk of climate change. </p><p>The DICE model incorporates a descriptive approach, in which discounting reflects actual economic conditions. In a recent<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers#Chronological_items" title="Wikipedia:Manual of Style/Dates and numbers"><span title="The time period mentioned near this tag is ambiguous. (November 2019)">when?</span></a></i>]</sup> DICE model, DICE-2013R Model, the social cost of carbon is estimated based on the following alternative scenarios: (1) a baseline scenario, when climate change policies have not changed since 2010, (2) an optimal scenario, when climate change policies are optimal (fully implemented and followed), (3) when the optimal scenario does not exceed 2˚C limit after 1900 data, (4) when the 2˚C limit is an average and not the optimum, (5) when a near-zero (low) discount rate of 0.1% is used (as assumed in the <a href="/wiki/Stern_Review" title="Stern Review">Stern Review</a>), (6) when a near-zero discount rate is also used but with calibrated interest rates, and (7) when a high discount rate of 3.5% is used.<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers#Chronological_items" title="Wikipedia:Manual of Style/Dates and numbers"><span title="The date of the event predicted near this tag has passed. (November 2019)">needs update</span></a></i>]</sup> </p><p>According to Markandya <i>et al.</i> (2001:466), discount rates used in assessing mitigation programmes need to at least partly reflect the <a href="/wiki/Opportunity_cost" title="Opportunity cost">opportunity costs</a> of capital.<sup id="cite_ref-markandya_41-6" class="reference"><a href="#cite_note-markandya-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> In developed countries, Markandya <i>et al.</i> (2001:466) thought that a discount rate of around 4–6% was probably justified, while in developing countries, a rate of 10–12% was cited. The discount rates used in assessing private projects were found to be higher – with potential rates of between 10% and 25%. </p><p>When deciding how to discount future climate change impacts, value judgements are necessary (Arrow <i>et al.</i>, 1996b:130). IPCC (2001a:9) found that there was no consensus on the use of long-term discount rates in this area.<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> The prescriptive approach to discounting leads to long-term discount rates of 2–3% in real terms, while the descriptive approach leads to rates of at least 4% after tax – sometimes much higher (Halsnæs <i>et al.</i>, 2007:136). </p><p>Even today, it is difficult to agree on an appropriate discount rate. The approach of discounting to be either prescriptive or descriptive stemmed from the views of Nordhaus and <a href="/wiki/Nicholas_Stern,_Baron_Stern_of_Brentford" title="Nicholas Stern, Baron Stern of Brentford">Stern</a>. Nordhaus takes on a descriptive approach which "assumes that investments to slow climate change must compete with investments in other areas". While Stern takes on a prescriptive approach in which "leads to the conclusion that any positive pure rate of time preference is unethical".<sup id="cite_ref-oup.silverchair-cdn.com_50-1" class="reference"><a href="#cite_note-oup.silverchair-cdn.com-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p><p>In Nordhaus' view, his descriptive approach translates that the impact of climate change is slow, thus investments in climate change should be on the same level of competition with other investments. He defines the discount rate to be the rate of return on capital investments. The DICE model uses the estimated market return on capital as the discount rate, around an average of 4%. He argues that a higher discount rate will make future damages look small, thus have less effort to reduce emissions today. A lower discount rate will make future damages look larger, thus put more effort to reduce emissions today.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> </p><p>In Stern's view, the pure rate of time preference is defined as the discount rate in a scenario where present and future generations have equal resources and opportunities.<sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> A zero pure rate of time preference in this case would indicate that all generations are treated equally. The future generation do not have a "voice" on today's current policies, so the present generation are morally responsible to treat the future generation in the same manner. He suggests for a lower discount rate in which the present generation should invest in the future to reduce the risks of climate change. </p><p>Assumptions are made to support estimating high and low discount rates. These estimates depend on future emissions, <a href="/wiki/Climate_sensitivity" title="Climate sensitivity">climate sensitivity</a> relative to increase in greenhouse gas concentrations, and the seriousness of impacts over time.<sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> Long-term climate policies will significantly impact future generations and this is called intergenerational discounting. Factors that make intergenerational discounting complicated include the great uncertainty of economic growth, future generations are affected by today's policies, and private discounting will be affected due to a longer "investment horizon".<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Controversy">Controversy</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=14" title="Edit section: Controversy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-POV plainlinks metadata ambox ambox-content ambox-POV" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span class="skin-invert" typeof="mw:File"><span><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/45px-Unbalanced_scales.svg.png" decoding="async" width="45" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/68px-Unbalanced_scales.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/90px-Unbalanced_scales.svg.png 2x" data-file-width="400" data-file-height="354" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">The <b><a href="/wiki/Wikipedia:Neutral_point_of_view" title="Wikipedia:Neutral point of view">neutrality</a> of this section is <a href="/wiki/Wikipedia:NPOV_dispute" title="Wikipedia:NPOV dispute">disputed</a></b>.<span class="hide-when-compact"> Relevant discussion may be found on the <a href="/wiki/Talk:Economics_of_climate_change_mitigation#Check_POV_language_in_Discount_rates_>_Controversy_section" title="Talk:Economics of climate change mitigation">talk page</a>. Please do not remove this message until <a href="/wiki/Template:POV#When_to_remove" title="Template:POV">conditions to do so are met</a>.</span> <span class="date-container"><i>(<span class="date">December 2021</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>Discounting is a relatively controversial issue in both climate change mitigation and environmental economics due to the ethical implications of valuing future generations less than present ones. Non-economists often find it difficult to grapple with the idea that thousands of dollars of future costs and benefits can be valued at less than a cent in the present after discounting.<sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> This devaluation can lead to <a href="/wiki/Overconsumption" class="mw-redirect" title="Overconsumption">overconsumption</a> and "strategic ignorance" where individuals choose to ignore information that would prevent the overconsumption of resources.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> Contrary to this, orthodox economists concerned with equality argue that it is important to distribute society's resources equitably across time, and since they generally, rightly or wrongly predict positive economic growth, despite global climate change, they argue that current generations should damage the environment in which future generations live so that the current ones can consume and produce more to equalize the (rightly or wrongly) assumed gains to the future from a supposed growing net GDP.<sup id="cite_ref-:04_61-0" class="reference"><a href="#cite_note-:04-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup> That being said, not all economists share this opinion as notable economist <a href="/wiki/Frank_Ramsey_(mathematician)" title="Frank Ramsey (mathematician)">Frank Ramsey</a> once described discounting as "ethically indefensible."<sup id="cite_ref-:04_61-1" class="reference"><a href="#cite_note-:04-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup> </p><p>One root of this controversy can be attributed to the discrepancies between the time scales environmentalists and corporations/governments view the world with. Environmental processes such as the <a href="/wiki/Carbonate%E2%80%93silicate_cycle" title="Carbonate–silicate cycle">carbonate-silicate cycle</a> and <a href="/wiki/Milankovitch_cycles" title="Milankovitch cycles">Milankovitch cycles</a> occur on timescales of thousands of years while economic processes, such as infrastructure investments, occur on time scales as short as thirty years. The difference between these two scales makes balancing both interests, sustainability and efficiency, incredibly difficult.<sup id="cite_ref-:04_61-2" class="reference"><a href="#cite_note-:04-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Cost_estimates">Cost estimates</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=15" title="Edit section: Cost estimates"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="excerpt-block"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="/wiki/Climate_change_mitigation#Costs_and_funding" title="Climate change mitigation">Climate change mitigation § Costs and funding</a>.<span class="mw-editsection-like plainlinks"><span class="mw-editsection-bracket">[</span><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Climate_change_mitigation&action=edit#Costs_and_funding">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt"> <p>Several factors affect mitigation cost estimates. One is the baseline. This is a reference scenario that the alternative mitigation scenario is compared with. Others are the way costs are modelled, and assumptions about future government policy.<sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 622">: 622 </span></sup> Cost estimates for mitigation for specific regions depend on the quantity of emissions allowed for that region in future, as well as the timing of interventions.<sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 90">: 90 </span></sup> </p><p>Mitigation costs will vary according to how and when emissions are cut. Early, well-planned action will minimize the costs.<sup id="cite_ref-Climate_change_mitigation_stern_64-0" class="reference"><a href="#cite_note-Climate_change_mitigation_stern-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> Globally, the benefits of keeping warming under 2 °C exceed the costs,<sup id="cite_ref-Climate_change_mitigation_Sampedro-2020_65-0" class="reference"><a href="#cite_note-Climate_change_mitigation_Sampedro-2020-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> which according to <a href="/wiki/The_Economist" title="The Economist">The Economist</a> are affordable.<sup id="cite_ref-66" class="reference"><a href="#cite_note-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup> </p><p>Economists estimate the cost of climate change mitigation at between 1% and 2% of <a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a>.<sup id="cite_ref-Climate_change_mitigation_Rhys-2019_67-0" class="reference"><a href="#cite_note-Climate_change_mitigation_Rhys-2019-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Climate_change_mitigation_Kotz2024_68-0" class="reference"><a href="#cite_note-Climate_change_mitigation_Kotz2024-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> While this is a large sum, it is still far less than the subsidies governments provide to the ailing fossil fuel industry. The <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a> estimated this at more than $5 trillion per year.<sup id="cite_ref-69" class="reference"><a href="#cite_note-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Climate_change_mitigation_Teske-2019_70-0" class="reference"><a href="#cite_note-Climate_change_mitigation_Teske-2019-70"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> </p><p>Another estimate says that financial flows for climate mitigation and adaptation are going to be over $800 billion per year. These financial requirements are predicted to exceed $4 trillion per year by 2030.<sup id="cite_ref-71" class="reference"><a href="#cite_note-71"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-72" class="reference"><a href="#cite_note-72"><span class="cite-bracket">[</span>72<span class="cite-bracket">]</span></a></sup> </p><p>Globally, limiting warming to 2 °C may result in higher economic benefits than economic costs.<sup id="cite_ref-73" class="reference"><a href="#cite_note-73"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 300">: 300 </span></sup> The economic repercussions of mitigation vary widely across regions and households, depending on policy design and level of international cooperation. Delayed global cooperation increases policy costs across regions, especially in those that are relatively carbon intensive at present. Pathways with uniform carbon values show higher mitigation costs in more carbon-intensive regions, in fossil-fuels exporting regions and in poorer regions. Aggregate quantifications expressed in GDP or monetary terms undervalue the economic effects on households in poorer countries. The actual effects on welfare and well-being are comparatively larger.<sup id="cite_ref-Climate_change_mitigation_AR6_WGIII_Ch_3_74-0" class="reference"><a href="#cite_note-Climate_change_mitigation_AR6_WGIII_Ch_3-74"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Cost%E2%80%93benefit_analysis" title="Cost–benefit analysis">Cost–benefit analysis</a> may be unsuitable for analysing climate change mitigation as a whole. But it is still useful for analysing the difference between a 1.5 °C target and 2 °C.<sup id="cite_ref-Climate_change_mitigation_Rhys-2019_67-1" class="reference"><a href="#cite_note-Climate_change_mitigation_Rhys-2019-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup> One way of estimating the cost of reducing emissions is by considering the likely costs of potential technological and output changes. Policymakers can compare the <a href="/wiki/Marginal_abatement_costs" class="mw-redirect" title="Marginal abatement costs">marginal abatement costs</a> of different methods to assess the cost and amount of possible abatement over time. The marginal abatement costs of the various measures will differ by country, by sector, and over time.<sup id="cite_ref-Climate_change_mitigation_stern_64-1" class="reference"><a href="#cite_note-Climate_change_mitigation_stern-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> </p> <a href="/wiki/Eco-tariff" title="Eco-tariff">Eco-tariffs</a> on only imports contribute to reduced global export <a href="/wiki/Competition_(economics)" title="Competition (economics)">competitiveness</a> and to <a href="/wiki/Deindustrialization" title="Deindustrialization">deindustrialization</a>.<sup id="cite_ref-Climate_change_mitigation_o344_75-0" class="reference"><a href="#cite_note-Climate_change_mitigation_o344-75"><span class="cite-bracket">[</span>75<span class="cite-bracket">]</span></a></sup></div></div> <div class="mw-heading mw-heading3"><h3 id="Global_costs">Global costs</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=16" title="Edit section: Global costs"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Mitigation cost estimates depend critically on the baseline (in this case, a reference scenario that the alternative scenario is compared with), the way costs are modelled, and assumptions about future government policy.<sup id="cite_ref-76" class="reference"><a href="#cite_note-76"><span class="cite-bracket">[</span>76<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 622">: 622 </span></sup> Macroeconomic costs in 2030 were estimated for multi-gas mitigation (reducing emissions of carbon dioxide and other GHGs, such as <a href="/wiki/Methane" title="Methane">methane</a>) as between a 3% decrease in global GDP to a small increase, relative to baseline.<sup id="cite_ref-fisher_4-1" class="reference"><a href="#cite_note-fisher-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> This was for an emissions pathway consistent with atmospheric stabilization of GHGs between 445 and 710 ppm CO<sub>2</sub>-eq. In 2050, the estimated costs for stabilization between 710 and 445 ppm CO<sub>2</sub>-eq ranged between a 1% gain to a 5.5% decrease in global GDP, relative to baseline. These cost estimates were supported by a moderate amount of evidence and much agreement in the literature.<sup id="cite_ref-wg3_77-0" class="reference"><a href="#cite_note-wg3-77"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 11, 18">: 11, 18 </span></sup> </p><p>Macroeconomic cost estimates were mostly based on models that assumed transparent markets, no transaction costs, and perfect implementation of cost-effective policy measures across all regions throughout the 21st century.<sup id="cite_ref-fisher_4-2" class="reference"><a href="#cite_note-fisher-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 204">: 204 </span></sup> Relaxation of some or all these assumptions would lead to an appreciable increase in cost estimates. On the other hand, cost estimates could be reduced by allowing for accelerated technological learning, or the possible use of carbon tax/emission permit revenues to reform national tax systems.<sup id="cite_ref-wg3_77-1" class="reference"><a href="#cite_note-wg3-77"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 8">: 8 </span></sup> </p><p> In most of the assessed studies, costs rose for increasingly stringent stabilization targets. In scenarios that had high baseline emissions, mitigation costs were generally higher for comparable stabilization targets. In scenarios with low emissions baselines, mitigation costs were generally lower for comparable stabilization targets.<style data-mw-deduplicate="TemplateStyles:r1237032888/mw-parser-output/.tmulti">.mw-parser-output .tmulti .multiimageinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .tmulti .multiimageinner img{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .tmulti .multiimageinner img{background-color:white}}</style></p><div class="thumb tmulti tright"><div class="thumbinner multiimageinner" style="width:442px;max-width:442px"><div class="trow"><div class="tsingle" style="width:213px;max-width:213px"><div class="thumbimage" style="height:158px;overflow:hidden"><span typeof="mw:File"><a href="/wiki/File:20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg/211px-20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg.png" decoding="async" width="211" height="158" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg/317px-20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5b/20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg/422px-20210818_Greenhouse_gas_emissions_by_income_category_-_UN_Emissions_Gap_Report.svg.png 2x" data-file-width="1000" data-file-height="750" /></a></span></div><div class="thumbcaption">The emissions of the richest 1% of the global population account for more than twice the combined share of the poorest 50%. Compliance with the 1.5°C goal of the Paris Agreement would require the richest 1% to reduce their current emissions by at least a factor of 30, while per-person emissions of the poorest 50% could increase by a factor of about three.<sup id="cite_ref-EmissionGapReport2020_78-0" class="reference"><a href="#cite_note-EmissionGapReport2020-78"><span class="cite-bracket">[</span>78<span class="cite-bracket">]</span></a></sup></div></div><div class="tsingle" style="width:225px;max-width:225px"><div class="thumbimage" style="height:158px;overflow:hidden"><span typeof="mw:File"><a href="/wiki/File:2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4a/2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg/223px-2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg.png" decoding="async" width="223" height="158" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4a/2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg/335px-2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4a/2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg/446px-2019_Carbon_dioxide_emissions_by_income_group_-_Oxfam_data.svg.png 2x" data-file-width="1200" data-file-height="850" /></a></span></div><div class="thumbcaption">This pie chart illustrates both total emissions for each income group, and emissions <i>per person</i> within each income group. For example, the 10% with the highest incomes are responsible for half of carbon emissions, and its members emit an average of more than five times as much <i>per person</i> as members of the lowest half of the income scale.<sup id="cite_ref-OxfamClimateEquality_202311_79-0" class="reference"><a href="#cite_note-OxfamClimateEquality_202311-79"><span class="cite-bracket">[</span>79<span class="cite-bracket">]</span></a></sup></div></div></div></div></div> <div class="mw-heading mw-heading3"><h3 id="Regional_costs">Regional costs</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=17" title="Edit section: Regional costs"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Several studies have estimated regional mitigation costs. The conclusions of these studies are as follows:<sup id="cite_ref-80" class="reference"><a href="#cite_note-80"><span class="cite-bracket">[</span>80<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 776">: 776 </span></sup> </p> <ul><li>Regional abatement costs are largely dependent on the assumed stabilization level and baseline scenario. The allocation of emission allowances/permits is also an important factor, but for most countries, is less important than the stabilization level.</li> <li>Other costs arise from changes in <a href="/wiki/International_trade" title="International trade">international trade</a>. Fossil fuel-exporting regions are likely to be affected by losses in coal and oil exports compared to baseline, while some regions might experience increased bio-energy (energy derived from <a href="/wiki/Biomass" title="Biomass">biomass</a>) exports.</li> <li>Allocation schemes based on current emissions (i.e., where the most allowances/permits are given to the largest current polluters, and the fewest allowances are given to smallest current polluters) lead to welfare losses for developing countries, while allocation schemes based on a per capita convergence of emissions (i.e., where per capita emissions are equalized) lead to welfare gains for developing countries.</li></ul> <div class="mw-heading mw-heading2"><h2 id="Cost_sharing">Cost sharing</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=18" title="Edit section: Cost sharing"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Distributing_emissions_abatement_costs">Distributing emissions abatement costs</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=19" title="Edit section: Distributing emissions abatement costs"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>There have been different proposals on how to allocate responsibility for cutting emissions:<sup id="cite_ref-banuri_81-0" class="reference"><a href="#cite_note-banuri-81"><span class="cite-bracket">[</span>81<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 103">: 103 </span></sup> </p> <ul><li><b><a href="/wiki/Egalitarianism" title="Egalitarianism">Egalitarianism</a></b>: this system interprets the problem as one where each person has equal rights to a global resource, i.e., polluting the atmosphere.</li> <li><b>Basic needs</b>: this system would have emissions allocated according to basic needs, as defined according to a minimum level of <a href="/wiki/Consumption_(economics)" title="Consumption (economics)">consumption</a>. Consumption above basic needs would require countries to buy more emission rights. From this viewpoint, developing countries would need to be at least as well off under an emissions control regime as they would be outside the regime.</li> <li><b>Proportionality and polluter-pays principle</b>: Proportionality reflects the ancient <a href="/wiki/Aristotelianism" title="Aristotelianism">Aristotelian</a> principle that people should receive in proportion to what they put in, and pay in proportion to the damages they cause. This has a potential relationship with the "polluter-pays principle", which can be interpreted in a number of ways: <ul><li><i>Historical responsibilities</i>: this asserts that allocation of emission rights should be based on patterns of past emissions. Two-thirds of the stock of GHGs in the atmosphere at present is due to the past actions of developed countries.<sup id="cite_ref-goldemberg2_82-0" class="reference"><a href="#cite_note-goldemberg2-82"><span class="cite-bracket">[</span>82<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 29">: 29 </span></sup></li> <li><i>Comparable burdens and ability to pay</i>: with this approach, countries would reduce emissions based on comparable burdens and their ability to take on the costs of reduction. Ways to assess burdens include monetary costs per head of population, as well as other, more complex measures, like the <a href="/wiki/UNDP" class="mw-redirect" title="UNDP">UNDP</a>'s <a href="/wiki/Human_Development_Index" title="Human Development Index">Human Development Index</a>.</li> <li><i><a href="/wiki/Willingness_to_pay" title="Willingness to pay">Willingness to pay</a></i>: with this approach, countries take on emission reductions based on their ability to pay along with how much they benefit<sup id="cite_ref-83" class="reference"><a href="#cite_note-83"><span class="cite-bracket">[</span>83<span class="cite-bracket">]</span></a></sup> from reducing their emissions.</li></ul></li></ul> <div class="mw-heading mw-heading3"><h3 id="Specific_proposals">Specific proposals</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=20" title="Edit section: Specific proposals"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><b>Equal per capita entitlements</b>: this is the most widely cited method of distributing abatement costs, and is derived from egalitarianism.<sup id="cite_ref-banuri_81-1" class="reference"><a href="#cite_note-banuri-81"><span class="cite-bracket">[</span>81<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 106">: 106 </span></sup> This approach can be divided into two categories. In the first category, emissions are allocated according to national population. In the second category, emissions are allocated in a way that attempts to account for historical (cumulative) emissions.</li> <li><b>Status quo</b>: with this approach, historical emissions are ignored, and current emission levels are taken as a status quo right to emit.<sup id="cite_ref-banuri_81-2" class="reference"><a href="#cite_note-banuri-81"><span class="cite-bracket">[</span>81<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 107">: 107 </span></sup> An analogy for this approach can be made with <a href="/wiki/Fishery" title="Fishery">fisheries</a>, which is a common, limited resource. The analogy would be with the atmosphere, which can be viewed as an exhaustible <a href="/wiki/Natural_resource" title="Natural resource">natural resource</a>.<sup id="cite_ref-goldemberg2_82-1" class="reference"><a href="#cite_note-goldemberg2-82"><span class="cite-bracket">[</span>82<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 27">: 27 </span></sup> In <a href="/wiki/International_law" title="International law">international law</a>, one state recognized the long-established use of another state's use of the fisheries resource. It was also recognized by the state that part of the other state's economy was dependent on that resource.</li></ul> <div class="mw-heading mw-heading2"><h2 id="Economic_barriers_to_addressing_climate_change_mitigation">Economic barriers to addressing climate change mitigation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=21" title="Edit section: Economic barriers to addressing climate change mitigation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Economic components like the <a href="/wiki/Stock_market" title="Stock market">stock market</a> underestimate or cannot value social benefits of climate change mitigation.<sup id="cite_ref-84" class="reference"><a href="#cite_note-84"><span class="cite-bracket">[</span>84<span class="cite-bracket">]</span></a></sup> Climate change is largely an <a href="/wiki/Externality" title="Externality">externality</a>,<sup id="cite_ref-85" class="reference"><a href="#cite_note-85"><span class="cite-bracket">[</span>85<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-86" class="reference"><a href="#cite_note-86"><span class="cite-bracket">[</span>86<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-87" class="reference"><a href="#cite_note-87"><span class="cite-bracket">[</span>87<span class="cite-bracket">]</span></a></sup> despite a limited recent internalization of impacts that previously were fully 'external' to the economy.<sup id="cite_ref-88" class="reference"><a href="#cite_note-88"><span class="cite-bracket">[</span>88<span class="cite-bracket">]</span></a></sup> </p><p>Consumers can be and are affected by policies that relate to e.g. ethical consumer literacy,<sup id="cite_ref-89" class="reference"><a href="#cite_note-89"><span class="cite-bracket">[</span>89<span class="cite-bracket">]</span></a></sup> the available choices they have, transportation policy,<sup id="cite_ref-90" class="reference"><a href="#cite_note-90"><span class="cite-bracket">[</span>90<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Product_information" class="mw-redirect" title="Product information">product transparency</a> policies,<sup id="cite_ref-91" class="reference"><a href="#cite_note-91"><span class="cite-bracket">[</span>91<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-92" class="reference"><a href="#cite_note-92"><span class="cite-bracket">[</span>92<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-93" class="reference"><a href="#cite_note-93"><span class="cite-bracket">[</span>93<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-94" class="reference"><a href="#cite_note-94"><span class="cite-bracket">[</span>94<span class="cite-bracket">]</span></a></sup> and larger-order <a href="/wiki/Green_economy" title="Green economy">economic policies</a> that for example facilitate large-scale shifts of jobs.<sup id="cite_ref-95" class="reference"><a href="#cite_note-95"><span class="cite-bracket">[</span>95<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-96" class="reference"><a href="#cite_note-96"><span class="cite-bracket">[</span>96<span class="cite-bracket">]</span></a></sup> Such policies or measures are sometimes unpopular with the population. Therefore, they may be difficult for politicians to enact directly or help facilitate indirectly. </p><p>According to a study, "staying within a 1.5 °C <a href="/wiki/Carbon_budget" title="Carbon budget">carbon budget</a> (50% probability) implies leaving almost 40% of 'developed reserves' of fossil fuels unextracted".<sup id="cite_ref-97" class="reference"><a href="#cite_note-97"><span class="cite-bracket">[</span>97<span class="cite-bracket">]</span></a></sup> Climate policies-induced future lost financial profits from global <a href="/wiki/Stranded_asset" title="Stranded asset">stranded</a> <a href="/wiki/Fossil_fuel_divestment" title="Fossil fuel divestment">fossil-fuel</a> <a href="/wiki/Asset" title="Asset">assets</a> would lead to major losses for freely managed wealth of investors in advanced economies in current economics.<sup id="cite_ref-98" class="reference"><a href="#cite_note-98"><span class="cite-bracket">[</span>98<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=22" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 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href="/wiki/European_Green_Deal" title="European Green Deal">EU climate pact</a></li> <li><a href="/wiki/Green_economy" title="Green economy">Green economy</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economics_of_climate_change_mitigation&action=edit&section=23" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns 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.citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://about.bnef.com/blog/energy-transition-investment-hit-500-billion-in-2020-for-first-time/">"Energy Transition Investment Hit $500 Billion in 2020 – For First Time"</a>. <i>BloombergNEF</i>. (Bloomberg New Energy Finance). 19 January 2021. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210119134344/https://about.bnef.com/blog/energy-transition-investment-hit-500-billion-in-2020-for-first-time/">Archived</a> from the original on 19 January 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=BloombergNEF&rft.atitle=Energy+Transition+Investment+Hit+%24500+Billion+in+2020+%E2%80%93+For+First+Time&rft.date=2021-01-19&rft_id=https%3A%2F%2Fabout.bnef.com%2Fblog%2Fenergy-transition-investment-hit-500-billion-in-2020-for-first-time%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomics+of+climate+change+mitigation" class="Z3988"></span></span> </li> <li id="cite_note-BloombergNEF_20230126-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-BloombergNEF_20230126_2-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCatsaros2023" class="citation news cs1">Catsaros, Oktavia (26 January 2023). <a rel="nofollow" class="external text" href="https://about.bnef.com/blog/global-low-carbon-energy-technology-investment-surges-past-1-trillion-for-the-first-time/">"Global Low-Carbon Energy Technology Investment Surges Past $1 Trillion for the First Time"</a>. Figure 1: Bloomberg NEF (New Energy Finance). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230522001857/https://about.bnef.com/blog/global-low-carbon-energy-technology-investment-surges-past-1-trillion-for-the-first-time/">Archived</a> from the original on 22 May 2023. <q>Defying supply chain disruptions and macroeconomic headwinds, 2022 energy transition investment jumped 31% to draw level with fossil fuels</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Global+Low-Carbon+Energy+Technology+Investment+Surges+Past+%241+Trillion+for+the+First+Time&rft.date=2023-01-26&rft.aulast=Catsaros&rft.aufirst=Oktavia&rft_id=https%3A%2F%2Fabout.bnef.com%2Fblog%2Fglobal-low-carbon-energy-technology-investment-surges-past-1-trillion-for-the-first-time%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomics+of+climate+change+mitigation" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_news" title="Template:Cite news">cite news</a>}}</code>: CS1 maint: location (<a href="/wiki/Category:CS1_maint:_location" title="Category:CS1 maint: location">link</a>)</span></span> </li> <li id="cite_note-BNEF_20240130-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-BNEF_20240130_3-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://about.bnef.com/blog/global-clean-energy-investment-jumps-17-hits-1-8-trillion-in-2023-according-to-bloombergnef-report/">"Global Clean Energy Investment Jumps 17%, Hits $1.8 Trillion in 2023, According to BloombergNEF Report"</a>. <i>BNEF.com</i>. 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Spending on fossil fuels, armaments, private jets, sport utility vehicles, second homes, and advertising would need to be cut in order to provide room for growth in such areas as regenerative agriculture, food production, decent housing, clean energy, accessible health care, universal education, community welfare, public transportation, digital connectivity, and other areas related to green production and social needs.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Monthly+Review&rft.atitle=Planned+Degrowth%3A+Ecosocialism+and+Sustainable+Human+Development&rft.date=2023-07-01&rft.aulast=Foster&rft.aufirst=John+Bellamy&rft_id=https%3A%2F%2Fmonthlyreview.org%2F2023%2F07%2F01%2Fplanned-degrowth%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomics+of+climate+change+mitigation" class="Z3988"></span></span> </li> <li id="cite_note-10.1057/s41285-017-0032-7-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-10.1057/s41285-017-0032-7_25-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBorowyAillon2017" class="citation journal cs1">Borowy, Iris; Aillon, Jean-Louis (1 August 2017). 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(2020). <a rel="nofollow" class="external text" href="https://www.ojs.unito.it/index.php/visions/issue/download/495/Visions%20for%20Sustainability%20%2314%20-%20Full%20Issue#page=3">"Health and Degrowth in times of Pandemic"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Health+and+Degrowth+in+times+of+Pandemic&rft.date=2020&rft.aulast=Aillon&rft.aufirst=J.&rft.au=Cardito%2C+M.&rft_id=https%3A%2F%2Fwww.ojs.unito.it%2Findex.php%2Fvisions%2Fissue%2Fdownload%2F495%2FVisions%2520for%2520Sustainability%2520%252314%2520-%2520Full%2520Issue%23page%3D3&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomics+of+climate+change+mitigation" class="Z3988"></span></span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMissoni2015" class="citation journal cs1"><a href="/wiki/Eduardo_Missoni" title="Eduardo Missoni">Missoni, Eduardo</a> (1 July 2015). <a rel="nofollow" class="external text" href="https://link.springer.com/article/10.1007/s11625-015-0300-1">"Degrowth and health: local action should be linked to global policies and governance for health"</a>. <i>Sustainability Science</i>. <b>10</b> (3): 439–450. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2015SuSc...10..439M">2015SuSc...10..439M</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2Fs11625-015-0300-1">10.1007/s11625-015-0300-1</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/1862-4057">1862-4057</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:55806403">55806403</a>. <q>Volume and increase of spending in the health sector contribute to economic growth, but do not consistently relate with better health. Instead, unsatisfactory health trends, health systems' inefficiencies, and high costs are linked to the globalization of a growth society dominated by neoliberal economic ideas and policies of privatization, deregulation, and liberalization. A degrowth approach, understood as frame that connects diverse ideas, concepts, and proposals alternative to growth as a societal objective, can contribute to better health and a more efficient use of health systems.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Sustainability+Science&rft.atitle=Degrowth+and+health%3A+local+action+should+be+linked+to+global+policies+and+governance+for+health&rft.volume=10&rft.issue=3&rft.pages=439-450&rft.date=2015-07-01&rft_id=info%3Adoi%2F10.1007%2Fs11625-015-0300-1&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A55806403%23id-name%3DS2CID&rft.issn=1862-4057&rft_id=info%3Abibcode%2F2015SuSc...10..439M&rft.aulast=Missoni&rft.aufirst=Eduardo&rft_id=https%3A%2F%2Flink.springer.com%2Farticle%2F10.1007%2Fs11625-015-0300-1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomics+of+climate+change+mitigation" class="Z3988"></span></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBüchsKoch2019" class="citation journal cs1">Büchs, Milena; Koch, Max (1 January 2019). <a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.futures.2018.09.002">"Challenges for the degrowth transition: The debate about wellbeing"</a>. <i>Futures</i>. <b>105</b>: 155–165. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.futures.2018.09.002">10.1016/j.futures.2018.09.002</a></span>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0016-3287">0016-3287</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:149731503">149731503</a>. <q>The first part reviews the arguments that degrowth proponents have put forward on the ways in which degrowth can maintain or even improve wellbeing. It also outlines why the basic needs approach is most suitable for conceptualising wellbeing in a degrowth context. The second part considers additional challenges to maintaining or even improving current levels of wellbeing under degrowth</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Futures&rft.atitle=Challenges+for+the+degrowth+transition%3A+The+debate+about+wellbeing&rft.volume=105&rft.pages=155-165&rft.date=2019-01-01&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A149731503%23id-name%3DS2CID&rft.issn=0016-3287&rft_id=info%3Adoi%2F10.1016%2Fj.futures.2018.09.002&rft.aulast=B%C3%BCchs&rft.aufirst=Milena&rft.au=Koch%2C+Max&rft_id=https%3A%2F%2Fdoi.org%2F10.1016%252Fj.futures.2018.09.002&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomics+of+climate+change+mitigation" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKostakisLatoufisLiarokapisBauwens2018" class="citation journal cs1">Kostakis, Vasilis; Latoufis, Kostas; Liarokapis, Minas; Bauwens, Michel (1 October 2018). "The convergence of digital commons with local manufacturing from a degrowth perspective: Two illustrative cases". <i>Journal of Cleaner Production</i>. <b>197</b>: 1684–1693. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2018JCPro.197.1684K">2018JCPro.197.1684K</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.jclepro.2016.09.077">10.1016/j.jclepro.2016.09.077</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0959-6526">0959-6526</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:43975556">43975556</a>. <q>A large part of the activity taking place under the CBPP umbrella presents a lot of similarities with the degrowth concept of unpaid work and decommodification (Nierling, 2012). The majority of "peers" engaged in commons-oriented projects are motivated by passion, communication, learning and enrichment (Benkler, 2006, 2011). Kostakis et al. (2015, 2016) have only theoretically and conceptually explored the contours of an emerging productive model that builds on the convergence of the digital commons of knowledge, software and design with local manufacturing technologies. 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class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Climate_change" title="Template:Climate change"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Climate_change" title="Template talk:Climate change"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Climate_change" title="Special:EditPage/Template:Climate change"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Climate_change" style="font-size:114%;margin:0 4em"><a href="/wiki/Climate_change" title="Climate change">Climate change</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible expanded navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Overview" style="font-size:114%;margin:0 4em">Overview</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Causes_of_climate_change" title="Causes of climate change">Causes of climate change</a></li> <li><a href="/wiki/Effects_of_climate_change" title="Effects of climate change">Effects of climate change</a></li> <li><a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Climate change mitigation</a></li> <li><a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">Climate change adaptation</a></li> <li><a href="/wiki/Template:Climate_change_regions" title="Template:Climate change regions">By country and region</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Causes" style="font-size:114%;margin:0 4em"><a href="/wiki/Causes_of_climate_change" title="Causes of climate change">Causes</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Overview</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_system" title="Climate system">Climate system</a></li> <li><a href="/wiki/Greenhouse_effect" title="Greenhouse effect">Greenhouse effect</a> (<a href="/wiki/Carbon_dioxide_in_Earth%27s_atmosphere" title="Carbon dioxide in Earth's atmosphere">Carbon dioxide in Earth's atmosphere</a>)</li> <li><a href="/wiki/Scientific_consensus_on_climate_change" title="Scientific consensus on climate change">Scientific consensus on climate change</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Sources</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Deforestation_and_climate_change" title="Deforestation and climate change">Deforestation</a></li> <li><a href="/wiki/Fossil_fuel" title="Fossil fuel">Fossil fuel</a></li> <li><a href="/wiki/Greenhouse_gas" title="Greenhouse gas">Greenhouse gases</a></li> <li><a href="/wiki/Greenhouse_gas_emissions" title="Greenhouse gas emissions">Greenhouse gas emissions</a> <ul><li><a href="/wiki/Carbon_accounting" title="Carbon accounting">Carbon accounting</a></li> <li><a href="/wiki/Carbon_footprint" title="Carbon footprint">Carbon footprint</a></li> <li><a href="/wiki/Carbon_leakage" title="Carbon leakage">Carbon leakage</a></li> <li><a href="/wiki/Greenhouse_gas_emissions_from_agriculture" title="Greenhouse gas emissions from agriculture">from agriculture</a></li> <li><a href="/wiki/Greenhouse_gas_emissions_from_wetlands" title="Greenhouse gas emissions from wetlands">from wetlands</a></li></ul></li> <li><a href="/wiki/World_energy_supply_and_consumption" title="World energy supply and consumption">World energy supply and consumption</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="History" style="font-size:114%;margin:0 4em">History</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_climate_change_policy_and_politics" title="History of climate change policy and politics">History of climate change policy and politics</a></li> <li><a href="/wiki/History_of_climate_change_science" title="History of climate change science">History of climate change science</a></li> <li><a href="/wiki/Svante_Arrhenius" title="Svante Arrhenius">Svante Arrhenius</a></li> <li><a href="/wiki/James_Hansen" title="James Hansen">James Hansen</a></li> <li><a href="/wiki/Charles_David_Keeling" title="Charles David Keeling">Charles David Keeling</a></li> <li><a href="/wiki/United_Nations_Climate_Change_conference" class="mw-redirect" title="United Nations Climate Change conference">United Nations Climate Change conferences</a></li> <li>Years in climate change <ul><li><a href="/wiki/2019_in_climate_change" title="2019 in climate change">2019</a></li> <li><a href="/wiki/2020_in_climate_change" title="2020 in climate change">2020</a></li> <li><a href="/wiki/2021_in_climate_change" title="2021 in climate change">2021</a></li> <li><a href="/wiki/2022_in_climate_change" title="2022 in climate change">2022</a></li> <li><a href="/wiki/2023_in_climate_change" title="2023 in climate change">2023</a></li> <li><a href="/wiki/2024_in_climate_change" title="2024 in climate change">2024</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Effects_and_issues" style="font-size:114%;margin:0 4em"><a href="/wiki/Effects_of_climate_change" title="Effects of climate change">Effects and issues</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Physical</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abrupt_climate_change" title="Abrupt climate change">Abrupt climate change</a></li> <li><a href="/wiki/Anoxic_event" title="Anoxic event">Anoxic event</a></li> <li><a href="/wiki/Arctic_methane_emissions" title="Arctic methane emissions">Arctic methane emissions</a></li> <li><a href="/wiki/Arctic_sea_ice_decline" title="Arctic sea ice decline">Arctic sea ice decline</a></li> <li><a href="/wiki/Atlantic_meridional_overturning_circulation" title="Atlantic meridional overturning circulation">Atlantic meridional overturning circulation</a></li> <li><a href="/wiki/Drought" title="Drought">Drought</a></li> <li><a href="/wiki/Extreme_weather" title="Extreme weather">Extreme weather</a></li> <li><a href="/wiki/Flood" title="Flood">Flood</a> <ul><li><a href="/wiki/Coastal_flooding" title="Coastal flooding">Coastal flooding</a></li></ul></li> <li><a href="/wiki/Heat_wave" title="Heat wave">Heat wave</a> <ul><li><a href="/wiki/Marine_heatwave" title="Marine heatwave">Marine</a></li> <li><a href="/wiki/Urban_heat_island" title="Urban heat island">Urban heat island</a></li></ul></li> <li><a href="/wiki/Effects_of_climate_change_on_oceans" title="Effects of climate change on oceans">Oceans</a> <ul><li><a href="/wiki/Ocean_acidification" title="Ocean acidification">acidification</a></li> <li><a href="/wiki/Ocean_deoxygenation" title="Ocean deoxygenation">deoxygenation</a></li> <li><a href="/wiki/Ocean_heat_content" title="Ocean heat content">heat content</a></li> <li><a href="/wiki/Sea_surface_temperature" title="Sea surface temperature">sea surface temperature</a></li> <li><a href="/wiki/Ocean_stratification" title="Ocean stratification">stratification</a></li> <li><a href="/wiki/Ocean_temperature" title="Ocean temperature">temperature</a></li></ul></li> <li><a href="/wiki/Ozone_depletion" title="Ozone depletion">Ozone depletion</a></li> <li><a href="/wiki/Permafrost#Impacts_of_climate_change" title="Permafrost">Permafrost thaw</a></li> <li><a href="/wiki/Retreat_of_glaciers_since_1850" title="Retreat of glaciers since 1850">Retreat of glaciers since 1850</a></li> <li><a href="/wiki/Sea_level_rise" title="Sea level rise">Sea level rise</a></li> <li><a href="/wiki/Season_creep" title="Season creep">Season creep</a></li> <li><a href="/wiki/Tipping_points_in_the_climate_system" title="Tipping points in the climate system">Tipping points in the climate system</a></li> <li><a href="/wiki/Tropical_cyclones_and_climate_change" title="Tropical cyclones and climate change">Tropical cyclones</a></li> <li><a href="/wiki/Effects_of_climate_change_on_the_water_cycle" title="Effects of climate change on the water cycle">Water cycle</a></li> <li><a href="/wiki/Climate_change_and_wildfires" class="mw-redirect" title="Climate change and wildfires">Wildfires</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Flora and fauna</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Effects_of_climate_change_on_biomes" title="Effects of climate change on biomes">Biomes</a> <ul><li><a href="/wiki/Mass_mortality_event" title="Mass mortality event">Mass mortality event</a></li></ul></li> <li><a href="/wiki/Climate_change_and_birds" title="Climate change and birds">Birds</a></li> <li><a href="/wiki/Extinction_risk_from_climate_change" title="Extinction risk from climate change">Extinction risk</a></li> <li><a href="/wiki/Forest_dieback" title="Forest dieback">Forest dieback</a></li> <li><a href="/wiki/Climate_change_and_invasive_species" title="Climate change and invasive species">Invasive species</a></li> <li><a href="/wiki/Human_impact_on_marine_life#Climate_change" title="Human impact on marine life">Marine life</a></li> <li><a href="/wiki/Effects_of_climate_change_on_plant_biodiversity" title="Effects of climate change on plant biodiversity">Plant biodiversity</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Social and economic</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Effects_of_climate_change_on_agriculture" title="Effects of climate change on agriculture">Agriculture</a> <ul><li><a href="/wiki/Effects_of_climate_change_on_livestock" title="Effects of climate change on livestock">Livestock</a></li> <li><a href="/wiki/Climate_change_and_agriculture_in_the_United_States" title="Climate change and agriculture in the United States">United States</a></li></ul></li> <li><a href="/wiki/Climate_change_and_children" title="Climate change and children">Children</a></li> <li><a href="/wiki/Climate_change_and_cities" title="Climate change and cities">Cities</a></li> <li><a href="/wiki/Climate_change_and_civilizational_collapse" title="Climate change and civilizational collapse">Civilizational collapse</a></li> <li><a href="/wiki/Climate_change_and_crime" title="Climate change and crime">Crime</a></li> <li><a href="/wiki/List_of_areas_depopulated_due_to_climate_change" title="List of areas depopulated due to climate change">Depopulation of settlements</a></li> <li><a href="/wiki/List_of_landmarks_destroyed_or_damaged_by_climate_change" title="List of landmarks destroyed or damaged by climate change">Destruction of cultural heritage</a></li> <li><a href="/wiki/Disability_and_climate_change" title="Disability and climate change">Disability</a></li> <li><a href="/wiki/Economic_analysis_of_climate_change" title="Economic analysis of climate change">Economic impacts</a> <ul><li><a href="/wiki/Climate_change_and_insurance_in_the_United_States" title="Climate change and insurance in the United States">U.S. insurance industry</a></li></ul></li> <li><a href="/wiki/Climate_change_and_fisheries" title="Climate change and fisheries">Fisheries</a></li> <li><a href="/wiki/Climate_change_and_gender" title="Climate change and gender">Gender</a></li> <li><a href="/wiki/Effects_of_climate_change_on_human_health" title="Effects of climate change on human health">Health</a> <ul><li><a href="/wiki/Effects_of_climate_change_on_mental_health" title="Effects of climate change on mental health">Mental health</a></li></ul></li> <li><a href="/wiki/Human_rights_and_climate_change" title="Human rights and climate change">Human rights</a></li> <li><a href="/wiki/Climate_change_and_Indigenous_peoples" class="mw-redirect" title="Climate change and Indigenous peoples">Indigenous peoples</a></li> <li><a href="/wiki/Climate_change_and_infectious_diseases" title="Climate change and infectious diseases">Infectious diseases</a></li> <li><a href="/wiki/Climate_migration" title="Climate migration">Migration</a></li> <li><a href="/wiki/Climate_change_and_poverty" title="Climate change and poverty">Poverty</a></li> <li><a href="/wiki/Psychological_impact_of_climate_change" title="Psychological impact of climate change">Psychological impacts</a></li> <li><a href="/wiki/Climate_security" title="Climate security">Security and conflict</a></li> <li><a href="/wiki/Urban_flooding" title="Urban flooding">Urban flooding</a></li> <li><a href="/wiki/Water_scarcity" title="Water scarcity">Water scarcity</a></li> <li><a href="/wiki/Water_security" title="Water security">Water security</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Template:Climate_change_regions" title="Template:Climate change regions">By country and region</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change_in_Africa" title="Climate change in Africa">Africa</a></li> <li><a href="/wiki/Climate_change_in_the_Americas" title="Climate change in the Americas">Americas</a></li> <li><a href="/wiki/Climate_change_in_Antarctica" title="Climate change in Antarctica">Antarctica</a></li> <li><a href="/wiki/Climate_change_in_the_Arctic" title="Climate change in the Arctic">Arctic</a></li> <li><a href="/wiki/Climate_change_in_Asia" title="Climate change in Asia">Asia</a></li> <li><a href="/wiki/Climate_change_in_Australia" title="Climate change in Australia">Australia</a></li> <li><a href="/wiki/Climate_change_in_the_Caribbean" title="Climate change in the Caribbean">Caribbean</a></li> <li><a href="/wiki/Climate_change_in_Europe" title="Climate change in Europe">Europe</a></li> <li><a href="/wiki/Climate_change_in_the_Middle_East_and_North_Africa" title="Climate change in the Middle East and North Africa">Middle East and North Africa</a></li> <li><a href="/wiki/Effects_of_climate_change_on_small_island_countries" title="Effects of climate change on small island countries">Small island countries</a></li> <li><a href="/wiki/Category:Climate_change_by_country" title="Category:Climate change by country">by individual country</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Mitigation" style="font-size:114%;margin:0 4em"><a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Mitigation</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Economic_analysis_of_climate_change" title="Economic analysis of climate change">Economics and finance</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_budget" title="Carbon budget">Carbon budget</a></li> <li><a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">Carbon emission trading</a></li> <li><a href="/wiki/Carbon_offsets_and_credits" title="Carbon offsets and credits">Carbon offsets and credits</a> <ul><li><a href="/wiki/Gold_Standard_(carbon_offset_standard)" title="Gold Standard (carbon offset standard)">Gold Standard (carbon offset standard)</a></li></ul></li> <li><a href="/wiki/Carbon_price" title="Carbon price">Carbon price</a></li> <li><a href="/wiki/Carbon_tax" title="Carbon tax">Carbon tax</a></li> <li><a href="/wiki/Climate_debt" title="Climate debt">Climate debt</a></li> <li><a href="/wiki/Climate_finance" title="Climate finance">Climate finance</a></li> <li><a href="/wiki/Climate_risk_insurance" title="Climate risk insurance">Climate risk insurance</a></li> <li><a href="/wiki/Co-benefits_of_climate_change_mitigation" class="mw-redirect" title="Co-benefits of climate change mitigation">Co-benefits of climate change mitigation</a></li> <li><a class="mw-selflink selflink">Economics of climate change mitigation</a></li> <li><a href="/wiki/Fossil_fuel_divestment" title="Fossil fuel divestment">Fossil fuel divestment</a></li> <li><a href="/wiki/Green_Climate_Fund" title="Green Climate Fund">Green Climate Fund</a></li> <li><a href="/wiki/Low-carbon_economy" title="Low-carbon economy">Low-carbon economy</a></li> <li><a href="/wiki/Net_zero_emissions" class="mw-redirect" title="Net zero emissions">Net zero emissions</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Energy</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_capture_and_storage" title="Carbon capture and storage">Carbon capture and storage</a></li> <li><a href="/wiki/Energy_transition" title="Energy transition">Energy transition</a> <ul><li><a href="/wiki/Fossil_fuel_phase-out" title="Fossil fuel phase-out">Fossil fuel phase-out</a></li></ul></li> <li><a href="/wiki/Nuclear_power" title="Nuclear power">Nuclear power</a></li> <li><a href="/wiki/Renewable_energy" title="Renewable energy">Renewable energy</a></li> <li><a href="/wiki/Sustainable_energy" title="Sustainable energy">Sustainable energy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Preserving and enhancing<br /> <a href="/wiki/Carbon_sink" title="Carbon sink">carbon sinks</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Blue_carbon" title="Blue carbon">Blue carbon</a></li> <li><a href="/wiki/Carbon_dioxide_removal" title="Carbon dioxide removal">Carbon dioxide removal</a> <ul><li><a href="/wiki/Carbon_sequestration" title="Carbon sequestration">Carbon sequestration</a></li> <li><a href="/wiki/Direct_air_capture" title="Direct air capture">Direct air capture</a></li></ul></li> <li><a href="/wiki/Carbon_farming" title="Carbon farming">Carbon farming</a></li> <li><a href="/wiki/Climate-smart_agriculture" title="Climate-smart agriculture">Climate-smart agriculture</a></li> <li>Forest management <ul><li><a href="/wiki/Afforestation" title="Afforestation">afforestation</a></li> <li><a href="/wiki/Carbon_sequestration#Forestry" title="Carbon sequestration">forestry for carbon sequestration</a></li> <li><a href="/wiki/REDD_and_REDD%2B" title="REDD and REDD+">REDD and REDD+</a></li> <li><a href="/wiki/Reforestation" title="Reforestation">reforestation</a></li></ul></li> <li><a href="/wiki/Land_use,_land-use_change,_and_forestry" title="Land use, land-use change, and forestry">Land use, land-use change, and forestry</a> (LULUCF and AFOLU)</li> <li><a href="/wiki/Nature-based_solutions" title="Nature-based solutions">Nature-based solutions</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Personal</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Individual_action_on_climate_change" title="Individual action on climate change">Individual action on climate change</a> <ul><li><a href="/wiki/Plant-based_diet" title="Plant-based diet">Plant-based diet</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Society_and_adaptation" style="font-size:114%;margin:0 4em">Society and <a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">adaptation</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Society</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Business_action_on_climate_change" title="Business action on climate change">Business action</a></li> <li><a href="/wiki/Climate_action" title="Climate action">Climate action</a></li> <li><a href="/wiki/Climate_emergency_declaration" title="Climate emergency declaration">Climate emergency declaration</a></li> <li><a href="/wiki/Climate_movement" title="Climate movement">Climate movement</a> <ul><li><a href="/wiki/School_Strike_for_Climate" class="mw-redirect" title="School Strike for Climate">School Strike for Climate</a></li></ul></li> <li><a href="/wiki/Climate_change_denial" title="Climate change denial">Denial</a></li> <li><a href="/wiki/Ecological_grief" title="Ecological grief">Ecological grief</a></li> <li><a href="/wiki/Climate_governance" title="Climate governance">Governance</a></li> <li><a href="/wiki/Climate_justice" title="Climate justice">Justice</a></li> <li><a href="/wiki/Climate_change_litigation" title="Climate change litigation">Litigation</a></li> <li><a href="/wiki/Politics_of_climate_change" title="Politics of climate change">Politics</a></li> <li><a href="/wiki/Public_opinion_on_climate_change" title="Public opinion on climate change">Public opinion</a></li> <li><a href="/wiki/Women_in_climate_change" title="Women in climate change">Women</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">Adaptation</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change_adaptation_strategies_on_the_German_coast" title="Climate change adaptation strategies on the German coast">Adaptation strategies on the German coast</a></li> <li><a href="/wiki/Adaptive_capacity" title="Adaptive capacity">Adaptive capacity</a></li> <li><a href="/wiki/Disaster_risk_reduction" title="Disaster risk reduction">Disaster risk reduction</a></li> <li><a href="/wiki/Ecosystem-based_adaptation" title="Ecosystem-based adaptation">Ecosystem-based adaptation</a></li> <li><a href="/wiki/Flood_control" class="mw-redirect" title="Flood control">Flood control</a></li> <li><a href="/wiki/Loss_and_damage_(climate_change)" title="Loss and damage (climate change)">Loss and damage</a></li> <li><a href="/wiki/Managed_retreat" title="Managed retreat">Managed retreat</a></li> <li><a href="/wiki/Nature-based_solutions" title="Nature-based solutions">Nature-based solutions</a></li> <li><a href="/wiki/Climate_resilience" title="Climate resilience">Resilience</a></li> <li><a href="/wiki/Climate_risk" title="Climate risk">Risk</a></li> <li><a href="/wiki/Climate_change_vulnerability" title="Climate change vulnerability">Vulnerability</a></li> <li><a href="/wiki/The_Adaptation_Fund" title="The Adaptation Fund">The Adaptation Fund</a></li> <li><a href="/wiki/National_Adaptation_Programme_of_Action" title="National Adaptation Programme of Action">National Adaptation Programme of Action</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Climate_communication" title="Climate communication">Communication</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_Change_Performance_Index" title="Climate Change Performance Index">Climate Change Performance Index</a></li> <li><a href="/wiki/Climate_crisis" title="Climate crisis">Climate crisis (term)</a></li> <li><a href="/wiki/Climate_spiral" title="Climate spiral">Climate spiral</a></li> <li><a href="/wiki/Climate_change_education" title="Climate change education">Education</a></li> <li><a href="/wiki/Media_coverage_of_climate_change" title="Media coverage of climate change">Media coverage</a></li> <li><a href="/wiki/Climate_change_in_popular_culture" title="Climate change in popular culture">Popular culture depictions</a> <ul><li><a href="/wiki/Climate_change_art" title="Climate change art">art</a></li> <li><a href="/wiki/Climate_fiction" title="Climate fiction">fiction</a></li> <li><a href="/wiki/List_of_climate_change_video_games" class="mw-redirect" title="List of climate change video games">video games</a></li></ul></li> <li><a href="/wiki/Warming_stripes" title="Warming stripes">Warming stripes</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">International agreements</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Glasgow_Climate_Pact" title="Glasgow Climate Pact">Glasgow Climate Pact</a></li> <li><a href="/wiki/Kyoto_Protocol" title="Kyoto Protocol">Kyoto Protocol</a></li> <li><a href="/wiki/Paris_Agreement" title="Paris Agreement">Paris Agreement</a> <ul><li><a href="/wiki/Cooperative_Mechanisms_under_Article_6_of_the_Paris_Agreement" title="Cooperative Mechanisms under Article 6 of the Paris Agreement">Cooperative Mechanisms under Article 6 of the Paris Agreement</a></li> <li><a href="/wiki/Nationally_determined_contribution" title="Nationally determined contribution">Nationally determined contributions</a></li></ul></li> <li><a href="/wiki/Sustainable_Development_Goal_13" title="Sustainable Development Goal 13">Sustainable Development Goal 13</a></li> <li><a href="/wiki/United_Nations_Framework_Convention_on_Climate_Change" title="United Nations Framework Convention on Climate Change">United Nations Framework Convention on Climate Change</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Background_and_theory" style="font-size:114%;margin:0 4em">Background and theory</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Measurements</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Global_surface_temperature" title="Global surface temperature">Global surface temperature</a></li> <li><a href="/wiki/Instrumental_temperature_record" class="mw-redirect" title="Instrumental temperature record">Instrumental temperature record</a></li> <li><a href="/wiki/Proxy_(climate)" title="Proxy (climate)">Proxy</a></li> <li><a href="/wiki/Satellite_temperature_measurement" title="Satellite temperature measurement">Satellite temperature measurement</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Theory</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Albedo" title="Albedo">Albedo</a></li> <li><a href="/wiki/Carbon_cycle" title="Carbon cycle">Carbon cycle</a> <ul><li><a href="/wiki/Atmospheric_carbon_cycle" title="Atmospheric carbon cycle">atmospheric</a></li> <li><a href="/wiki/Biological_pump" title="Biological pump">biologic</a></li> <li><a href="/wiki/Oceanic_carbon_cycle" title="Oceanic carbon cycle">oceanic</a></li> <li><a href="/wiki/Permafrost_carbon_cycle" title="Permafrost carbon cycle">permafrost</a></li></ul></li> <li><a href="/wiki/Carbon_sink" title="Carbon sink">Carbon sink</a></li> <li><a href="/wiki/Climate_sensitivity" title="Climate sensitivity">Climate sensitivity</a></li> <li><a href="/wiki/Climate_variability_and_change" title="Climate variability and change">Climate variability and change</a></li> <li><a href="/wiki/Cloud_feedback" title="Cloud feedback">Cloud feedback</a></li> <li><a href="/wiki/Cloud_forcing" class="mw-redirect" title="Cloud forcing">Cloud forcing</a> <ul><li><a href="/wiki/Fixed_anvil_temperature_hypothesis" title="Fixed anvil temperature hypothesis">Fixed anvil temperature hypothesis</a></li></ul></li> <li><a href="/wiki/Cryosphere" title="Cryosphere">Cryosphere</a></li> <li><a href="/wiki/Earth%27s_energy_budget" title="Earth's energy budget">Earth's energy budget</a></li> <li><a href="/wiki/Extreme_event_attribution" title="Extreme event attribution">Extreme event attribution</a></li> <li><a href="/wiki/Climate_change_feedbacks" title="Climate change feedbacks">Feedbacks</a></li> <li><a href="/wiki/Global_warming_potential" title="Global warming potential">Global warming potential</a></li> <li><a href="/wiki/Illustrative_model_of_greenhouse_effect_on_climate_change" title="Illustrative model of greenhouse effect on climate change">Illustrative model of greenhouse effect on climate change</a></li> <li><a href="/wiki/Orbital_forcing" title="Orbital forcing">Orbital forcing</a></li> <li><a href="/wiki/Radiative_forcing" title="Radiative forcing">Radiative forcing</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Research and modelling</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change_scenario" title="Climate change scenario">Climate change scenario</a></li> <li><a href="/wiki/Climate_model" title="Climate model">Climate model</a></li> <li><a href="/wiki/Coupled_Model_Intercomparison_Project" title="Coupled Model Intercomparison Project">Coupled Model Intercomparison Project</a></li> <li><a href="/wiki/Intergovernmental_Panel_on_Climate_Change" title="Intergovernmental Panel on Climate Change">Intergovernmental Panel on Climate Change (IPCC)</a> <ul><li><a href="/wiki/IPCC_Sixth_Assessment_Report" title="IPCC Sixth Assessment Report">IPCC Sixth Assessment Report</a></li></ul></li> <li><a href="/wiki/Paleoclimatology" title="Paleoclimatology">Paleoclimatology</a></li> <li><a href="/wiki/Representative_Concentration_Pathway" title="Representative Concentration Pathway">Representative Concentration Pathway</a></li> <li><a href="/wiki/Shared_Socioeconomic_Pathways" title="Shared Socioeconomic Pathways">Shared Socioeconomic Pathways</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><b><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/6/66/Climate_change_icon.png/16px-Climate_change_icon.png" decoding="async" width="16" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/66/Climate_change_icon.png/24px-Climate_change_icon.png 1.5x, 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