Abstract
There has been a recent increase in efforts to develop broader models to assess the impact of climate change and climate change policies, both in terms of impact measures (beyond GDP) and in terms of modelling complexity (beyond DICE/RICE models). Climate policies aimed at reducing CO2 emissions can have impacts in multiple sectors of the economy, and can change consumption levels over time. We show how the sustainability indicator Genuine Savings can be endogenised within a general equilibrium model and used as a criterion for judging the impacts of such policies in terms of future well-being. Differences in Genuine Savings rates between CO2 emission reduction scenarios are discussed. We show how a broader, Genuine Savings-based assessment of climate change can result in a re-evaluation of the consequences and costs of inaction in terms of various climate change-related policies; and how multiple environmental and well-being outcomes can be analysed within a unified modelling framework.
| Original language | English |
|---|---|
| Number of pages | 27 |
| Journal | Environmental and Resource Economics |
| Volume | First Online |
| Early online date | 12 Oct 2018 |
| DOIs | |
| Publication status | E-pub ahead of print - 12 Oct 2018 |
Keywords
- Genuine Savings (GS)
- Integrated assessment model (IAM)
- Lifecycle impact assessment (LCIA)
- Sustainability
- Policy analysis
Access to Document
- Tokimatsu_2018_ERE_GenuineSavings_CC
Copyright © The Author(s) 2018. Open Access. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.