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Environment Magazine September/October 2008

 

November-December 2014

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Climate Change Mitigation as Catastrophic Risk Management

Since Nicholas Stern published his influential Review on the Economics of Climate Change for the British government in 2006, economists have become increasingly interested in how the value of climate policy, especially the reduction of greenhouse gas emissions at the global level, depends on risk and uncertainty.1 New lines of research make the case that mitigating climate change is above all an exercise in catastrophic risk management.

Simon Dietz is with the Grantham Research Institute on Climate Change and the Environment, ESRC Centre for Climate Change Economics and Policy, and the Department of Geography and Environment at the London School of Economics and Political Science.

This research has received funding from the European Union's Seventh Framework Programme (FP7/2007-2013) under grant agreement 266992, Global-IQ: “Impacts Quantification of Global Changes.” The usual disclaimer applies.

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