Economics of the disintegration of the Greenland ice sheet
Concerns about the impact on large-scale earth systems have taken center stage in the scientific and economic analysis of climate change. The present study analyzes the economic impact of a potential disintegration of the Greenland ice sheet (GIS). The study introduces an approach that combines long...
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ftosti:oai:osti.gov:1625029 2023-07-30T04:03:49+02:00 Economics of the disintegration of the Greenland ice sheet Nordhaus, William 2023-07-03 application/pdf http://www.osti.gov/servlets/purl/1625029 https://www.osti.gov/biblio/1625029 https://doi.org/10.1073/pnas.1814990116 unknown http://www.osti.gov/servlets/purl/1625029 https://www.osti.gov/biblio/1625029 https://doi.org/10.1073/pnas.1814990116 doi:10.1073/pnas.1814990116 54 ENVIRONMENTAL SCIENCES 2023 ftosti https://doi.org/10.1073/pnas.1814990116 2023-07-11T09:42:20Z Concerns about the impact on large-scale earth systems have taken center stage in the scientific and economic analysis of climate change. The present study analyzes the economic impact of a potential disintegration of the Greenland ice sheet (GIS). The study introduces an approach that combines long-run economic growth models, climate models, and reduced-form GIS models. The study demonstrates that social cost–benefit analysis and damage-limiting strategies can be usefully extended to illuminate issues with major long-term consequences, as well as concerns such as potential tipping points, irreversibility, and hysteresis. A key finding is that, under a wide range of assumptions, the risk of GIS disintegration makes a small contribution to the optimal stringency of current policy or to the overall social cost of climate change. It finds that the cost of GIS disintegration adds less than 5% to the social cost of carbon (SCC) under alternative discount rates and estimates of the GIS dynamics. Other/Unknown Material Greenland Ice Sheet SciTec Connect (Office of Scientific and Technical Information - OSTI, U.S. Department of Energy) Greenland Proceedings of the National Academy of Sciences 116 25 12261 12269 |
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SciTec Connect (Office of Scientific and Technical Information - OSTI, U.S. Department of Energy) |
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ftosti |
language |
unknown |
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54 ENVIRONMENTAL SCIENCES |
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54 ENVIRONMENTAL SCIENCES Nordhaus, William Economics of the disintegration of the Greenland ice sheet |
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54 ENVIRONMENTAL SCIENCES |
description |
Concerns about the impact on large-scale earth systems have taken center stage in the scientific and economic analysis of climate change. The present study analyzes the economic impact of a potential disintegration of the Greenland ice sheet (GIS). The study introduces an approach that combines long-run economic growth models, climate models, and reduced-form GIS models. The study demonstrates that social cost–benefit analysis and damage-limiting strategies can be usefully extended to illuminate issues with major long-term consequences, as well as concerns such as potential tipping points, irreversibility, and hysteresis. A key finding is that, under a wide range of assumptions, the risk of GIS disintegration makes a small contribution to the optimal stringency of current policy or to the overall social cost of climate change. It finds that the cost of GIS disintegration adds less than 5% to the social cost of carbon (SCC) under alternative discount rates and estimates of the GIS dynamics. |
author |
Nordhaus, William |
author_facet |
Nordhaus, William |
author_sort |
Nordhaus, William |
title |
Economics of the disintegration of the Greenland ice sheet |
title_short |
Economics of the disintegration of the Greenland ice sheet |
title_full |
Economics of the disintegration of the Greenland ice sheet |
title_fullStr |
Economics of the disintegration of the Greenland ice sheet |
title_full_unstemmed |
Economics of the disintegration of the Greenland ice sheet |
title_sort |
economics of the disintegration of the greenland ice sheet |
publishDate |
2023 |
url |
http://www.osti.gov/servlets/purl/1625029 https://www.osti.gov/biblio/1625029 https://doi.org/10.1073/pnas.1814990116 |
geographic |
Greenland |
geographic_facet |
Greenland |
genre |
Greenland Ice Sheet |
genre_facet |
Greenland Ice Sheet |
op_relation |
http://www.osti.gov/servlets/purl/1625029 https://www.osti.gov/biblio/1625029 https://doi.org/10.1073/pnas.1814990116 doi:10.1073/pnas.1814990116 |
op_doi |
https://doi.org/10.1073/pnas.1814990116 |
container_title |
Proceedings of the National Academy of Sciences |
container_volume |
116 |
container_issue |
25 |
container_start_page |
12261 |
op_container_end_page |
12269 |
_version_ |
1772814917909348352 |