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Journal article

The safe carbon budget

Abstract:

Cumulative emissions drive peak global warming and determine the carbon budget needed to keep temperature below 2 or 1.5 °C. This safe carbon budget is low if uncertainty about the transient climate response is high and risk tolerance (willingness to accept risk of overshooting the temperature target) is low. Together with energy costs, this budget determines the optimal carbon price and how quickly fossil fuel is abated and replaced by renewable energy. This price is the sum of the present d...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Publisher's version

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Publisher copy:
10.1007/s10584-017-2132-8

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Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Economics
Oxford college:
New College
Role:
Author
ORCID:
0000-0003-2340-4633
Publisher:
Springer Publisher's website
Journal:
Climatic Change Journal website
Volume:
147
Issue:
1-2
Pages:
47-59
Publication date:
2018-01-27
Acceptance date:
2017-12-23
DOI:
EISSN:
1573-1480
ISSN:
0165-0009
Pubs id:
pubs:824912
URN:
uri:75edc397-f1bb-4af4-99d4-906cd254b1ed
UUID:
uuid:75edc397-f1bb-4af4-99d4-906cd254b1ed
Local pid:
pubs:824912

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