Economics of Global Climatic Change Book

	Preface	xi
	List of Abbreviations	xiii
	List of Chemical Symbols	xv
Chapter 1	Introduction	3
1.1	Historical Perspectives	3
1.2	Svante Arrhenius and Later	7
1.3	About This Book	13
	References	19
Chapter 2	Scientific Background	21
2.1	Introduction	21
2.2	Climatic Renewal and Change	22
2.3	The Science of Global Warming	34
2.4	Greenhouse Gases and Global Warming Potential	37
2.5	The Ozone Factor	41
2.6	The Aerosols Factor	48
2.7	Scientific Uncertainty and Decision Making	49
2.8	Concluding Observations	52
	References	52
Chapter 3	Economic Approaches	56
3.1	Introduction	56
3.2	Sustainability and Sustainable Development	57
3.3	Externalities and Transaction Costs	66
3.4	Valuation of Resources and the Environment	67
3.5	Discounting Over Time	73
3.6	The New Green Golden Rule	84
3.7	Economics of Ecotaxes	87
3.8	Economic Policies: Multilevel Approaches	91
3.9	Concluding Observations	94
	References	95
Appendix 3A	Analytics of Low Discount Rates for Stochastic Costs	99
Appendix 3B	Optimal Incentives and Disincentives	101
Chapter 4	Economics of the Greenhouse Effect	103
4.1	Introduction	103
4.2	Ecological Economic Aspects	104
4.3	Economics of the Global Warming Potential	106
4.4	Biogeophysical and Public Health Economics	110
4.5	Economic Damage Assessment	113
4.6	Mitigating the Greenhouse Effect and Climatic Changes	118
4.7	Concluding Observations	120
	References	121
Chapter 5	Greenhouse Gas Regimes and Climate Change	124
5.1	Introduction	124
5.2	Climate Stabilization	125
5.3	Greenhouse Gas Reduction and Target Fixation	126
5.4	Market and Nonmarket Policy Instruments	128
5.5	Tradable Permits and Carbon Trade	128
5.6	Carbon Sequestration and Forestry	131
5.7	Cost Effectiveness of Alternatives	133
5.8	Cost Sharing and North-South Issues	134
5.9	Concluding Observations	140
	References	140
Appendix 5A	UN Framework Convention on Climate Change Articles	142
Appendix 5B	Kyoto Protocol to the UNFCCC	145
Chapter 6	International Institutional Mechanisms	155
6.1	Introduction	155
6.2	Multilateral Institutions	155
6.3	Joint Implementation and Clean Development Mechanisms	157
6.4	Political Economy of Global Environmental Policies	162
6.5	Concluding Observations	163
	References	164
Chapter 7	The Road (or Air) Ahead	165
7.1	The Kyoto Protocol and After	165
7.2	New Initiatives and Institutional Mechanisms	166
7.3	Improved Effectiveness of Global Initiatives	168
	References	172
	Glossary	173
	Web Site Addresses	189
	Index	197