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Counting only the hits? The risk of underestimating the costs of stringent climate policy: A letter
journal contributionposted on 2023-06-08, 11:04 authored by Massimo Tavoni, Richard TolRichard Tol
This paper warns against the risk of underestimating the costs-and the uncertainty about the costs-of achieving stringent stabilization targets. We argue that a straightforward review of integrated assessment models results produces biased estimates for the more ambitious climate objectives such as those compatible with the 2°C of the European Union and the G8. The magnitude and range of estimates are significantly reduced because only the most optimistic results are reported for such targets. We suggest a procedure that addresses this partiality. The results show highly variable costs for the most ambitious scenarios.
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