21.09.2016

# Media

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Green Biz: Why carbon removal is the next frontier in corporate climate action

"Because time travel is not an option, we will need to develop what are known as "carbon removal" solutions that can clean up large volumes of CO2 from the atmosphere. A wide variety of carbon removal solutions have been proposed, ranging from basic tree planting and ecosystem restoration to high-tech devices that hoover up CO2 directly from the atmosphere, as shown in the figure below. While carbon removal solutions face many commercialization hurdles, estimates show a very large technical scale potential for a portfolio of solutions if these challenges are tackled successfully."

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15.09.2016

# New Publications

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Moriyama, Ryo; et al. (2016): The cost of stratospheric climate engineering revisited

Moriyama, Ryo; Sugiyama, Masahiro; Kurosawa, Atsushi; Masuda, Kooiti; Tsuzuki, Kazuhiro; Ishimoto, Yuki (2016): The cost of stratospheric climate engineering revisited. In Mitig Adapt Strateg Glob Change. DOI 10.1007/s11027-016-9723-y.

"Here, we critically synthesize previous estimates of the underlying parameters and examine the total costs of SAI. It is evident that there have been inconsistencies in some assumptions and the application of overly optimistic parameter values in previous studies, which have led to an overall underestimation of the cost of aircraft-based SAI with sulfate aerosols."

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01.08.2016

# Media

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Energy Transition Show: Can Economics Guide the Energy Transition?

"Will they be any help at all in supporting technologies like carbon capture and sequestration, or geoengineering? Can negative discount rates help us pay for climate change mitigation projects?"

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31.07.2016

# New Publications

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Emmerling, Johannes; et al. (2016): Climate Engineering under Deep Uncertainty and Heterogeneity

Emmerling, Johannes; Manoussi, Vassiliki; Xepapadeas, Anastasios (2016): Climate Engineering under Deep Uncertainty and Heterogeneity. Fondazione Eni Enrico Mattei (FEEM) (Nota di Lavoro, 52.2016).

"We study the role of the SRM implementation and its strategic dimension in a model with two heterogeneous countries with the notable feature of model misspecification on the impacts from SRM. We find that deep uncertainty leads to a reduction in SRM deployment both under cooperation and strategic behavior, which is a more relevant issue if countries act strategically."

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06.06.2016

# Media

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VOX: Alternatives to emissions reduction: Using climate engineering to tackle global warming

"This column discusses a new set of technologies collectively known as climate engineering, and explores their potential effectiveness and role in climate change economics. A lot of uncertainty surrounds the costs and effects of climate engineering tools, but it is clear that they would change the optimal levels of emissions reduction currently discussed in literature."

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30.05.2016

# New Publications

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Barrett, Scott; Moreno-Cruz, Juan B. (2015): The alternatives to unconstrained climate change: Emission reductions versus carbon and solar geoengineering

Barrett, Scott; Moreno-Cruz, Juan B. (2015): The alternatives to unconstrained climate change: Emission reductions versus carbon and solar geoengineering. In Scott Barrett, Carlo Carraro, Jaime de Melo (Eds.): Towards a workable and effective climate regime. London: Centre for Economic Policy Research, pp. 353–365.

"With the 2°C target likely to be crossed later this century, this chapter argues that it is now time to consider solar and carbon geoengineering as well. Carbon geoengineering offers the option of a true backstop and provides a ceiling to the costs of managing climate change."

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02.05.2016

# New Publications

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Haszeldine, R. Stuart (2016): Can CCS and NET enable the continued use of fossil carbon fuels after CoP21?

Haszeldine, R. Stuart (2016): Can CCS and NET enable the continued use of fossil carbon fuels after CoP21? In ECOPOL 32 (2), pp. 304–322. DOI 10.1093/oxrep/grw013.

"Both CCS and negative emission technology (NET) are now required to manage the carbon stock in earth’s atmosphere and oceans. All components of CCS are operationally proven secure at the industrial scale. Fifteen CCS projects operate globally; seven are under construction. CCS systems increase electricity prices, to about £100/MWhr."

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14.03.2016

# New Publications

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Lockley, Andrew (2016): Licence to chill. Building a legitimate authorisation process for commercial SRM operations

Lockley, Andrew (2016): Licence to chill. Building a legitimate authorisation process for commercial SRM operations. In Environmental Law Review 18 (1), pp. 25–40. DOI 10.1177/1461452916630082.

"It has been suggested that SRM could be carried out by commercially motivated actors. [...] We discuss the need for a two-pronged regulatory approach, encompassing first legal and corporate regulation and second, scientific and technical regulation. In conclusion, we identify differing regulatory requirements, according to whether the intended effect on the climate system of the SRM industry, or of individual firms, can be regarded as de minimis."

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12.02.2016

# Media

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Academic Minute. Garth Heutel, Georgia State University – Solar Geoengineering

"Garth Heutel, assistant professor of economics at Georgia State University, explains his research into the benefits and risks of solar geoengineering."

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01.02.2016

# New Publications

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Tol, Richard S. J. (2016): Distributional Implications of Geoengineering

Tol, Richard S. J. (2016): Distributional Implications of Geoengineering. Department of Economics, University of Sussex (Working Paper, 8316).

"Geoengineering is a private good with externalities. Individual countries, and indeed medium-sized organizations and companies, can geoengineer unilaterally and impose their preferred climate on others. In this paper, I use the FUND model to illustrate the implications, comparing and contrasting efficient, optimal, and equitable solutions to emission reduction and geoengineering."

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