On the optimal control of carbon dioxide emissions: an application of FUND |
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Authors: | Richard SJ Tol |
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Institution: | (1) Institute for Environmental Studies, Vrije Universiteit, De Boelelaan 1115, 1081 HV Amsterdam, The Netherlands |
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Abstract: | This paper presents the Climate Framework for Uncertainty, Negotiation and Distribution (FUND), an integrated assessment model
of climate change, and discusses selected results. FUND is a nine‐region model of the world economy and its interactions with
climate, running in time steps of one year from 1990 to 2200. The model consists of scenarios for economy and population,
which are perturbed by climate change and greenhouse gas emission reduction policy. Each region optimizes its net present
welfare. Policy variables are energy and carbon efficiency improvement, and sequestering carbon dioxide in forests. It is
found that reducing conventional air pollution is a major reason to abate carbon dioxide emissions. Climate change is an additional
reason to abate emissions. Reducing and changing energy use is preferred as an option over sequestering carbon. Under non‐cooperation,
free riding as well as assurance behaviour is observed in the model. The scope for joint implementation is limited. Under
cooperation, optimal emission abatement is (slightly) higher than under non‐cooperation, but the global coalition is not self‐enforcing
while side payments are insufficient. Optimal emission control under non‐cooperation is less than currently discussed under
the Framework Convention on Climate Change, but higher than observed in practice.
This revised version was published online in July 2006 with corrections to the Cover Date. |
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Keywords: | integrated assessment of climate change optimal control game theory secondary benefits |
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