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The IPCC's 6th assessment report (AR6) has provided a wide range of variables and scenarios that meet climate targets of varying ambition. Many variables reported in the AR6 affect human welfare through climate change and mitigation, including but not limited to economic output, the natural environment, human health, and food and energy supply. In some of these dimensions, trade-offs exist between better performance in welfare-relevant dimensions and reaching more ambitious climate targets. Here, we apply recent advances in the theoretical multidimensional measurement of welfare, like the Human Development Index, to the AR6 database. The welfare metric is based on a welfare function approach, simple to apply, and intuitive. We apply a range of specifications of the welfare metric, aiming to derive robust rankings of climate policy targets that perform best in terms of the multidimensional welfare index. Across a large range of weights on welfare-relevant variables, we find that lower temperature is associated with higher welfare in 2100 unless there is a high weight on food supply. [ABSTRACT FROM AUTHOR]

To motivate public participation in climate change mitigation, both "carrot" policies that create positive incentives for mitigated carbon and "stick" policies that create negative incentives for emitted carbon have been widely applied. Given the joint deployment of these measures, a key question is whether they are compatible with each other. Focusing on the Low-Carbon Reward Scheme (LCRS) and carbon taxes, two prominent proposals on China's climate policy agenda, this study evaluates how one incentive policy affects public support for the other. The results of a large survey experiment with Hangzhou residents indicate a two-way crowding-out effect, wherein introducing the LCRS diminished support for the tax, albeit primarily among LCRS proponents, and introducing the tax reduced support for the LCRS. Aligning with the proposed account, crowding out was driven by a decrease in policy effectiveness and fairness perceptions. These findings reveal a contradictory relationship between carrot and stick policies at the citizen level and illuminate the underlying mechanism. • Both carrot and stick policies are applied to motivate climate mitigation behaviors. • We identify a two-way crowding-out effect between these policies in public opinion. • Introducing a stick (carbon tax) reduces support for a carrot (low-carbon reward). • Introducing a carrot reduces support for a stick among people favoring the carrot. • Crowding out is driven by weakened policy effectiveness and fairness perceptions. [ABSTRACT FROM AUTHOR]

Economists agree that carbon taxes are the most effective solution for climate change mitigation. But where do fossil fuel companies stand on carbon taxes? I analyse how the 100 largest oil and gas companies communicate on carbon taxes. Surprisingly, I find that 54% of companies that have a policy on carbon taxes support them (78% for the 50 largest). This is puzzling as an effective carbon tax should reduce the revenues and reserve value of fossil fuel companies. To understand this paradox, I offer non-mutually exclusive reasons why fossil fuel companies might support carbon taxes. Oil and gas companies could use a carbon tax to get rid of the competition from coal, create a level playing field and remove regulatory uncertainty. Or they think that these taxes will not affect them because demand for oil and gas is inelastic or that international coordination will fail and lead to leakages. Finally, it could be that this is simply a communication exercise. A carbon tax helps them shift the responsibility from fossil fuel companies to customers, voters and elected officials. [ABSTRACT FROM AUTHOR]

Climate policy is often described by economists as an intertemporal consumption trade-off: consume all you want today and face climate damages in the future, or sacrifice consumption today to implement costly climate policies that will bring future benefits through avoided climate damages. If one assumes enduring technological progress, a society that is more averse to intertemporal inequalities should postpone climate policies and let future, richer generations pay more. Growing evidence however suggests that the trade-off is more complex: abrupt, extreme, irreversible changes to the climate may cause discontinuities to socio-economic systems, possibly leading to a sharp decline of human population and consumption per capita. In this paper, we show that, when accounting for a very small risk of catastrophic climate change, it is optimal to pursue stringent climate policies to postpone the catastrophe. Our results conform with the well-known conclusion that tight carbon budgets are preferred when aversion towards inequalities between generations is low. However, by contrast with previous studies, we show that stringent policies are also optimal when inequality aversion is high. The non-monotonicity of the influence of inequality aversion is due to the fact that, for a given investment in abatement, a higher inequality aversion gives a smaller weight to avoided future non-catastrophic damages, but a larger weight to the catastrophic outcome. We also explore the role of population ethics, and show that the size of the optimal carbon budget decreases with the social preference for large populations, although this parameter plays almost no role at extreme levels of inequality aversion. Our result demonstrates that views from opposite sides of the ethical spectrum in terms of inequality aversion converge in terms of climate policy recommendations, warranting immediate climate action. [ABSTRACT FROM AUTHOR]

The saltmarsh carbon storage potential is a key topic in blue carbon research and climate policy. Ecosystem service valuations provide valuable information to policymakers for habitat management and climate change mitigation policies. Yet, only few saltmarsh valuation studies have included the carbon storage service in the UK context. This paper investigates how the public values saltmarsh ecosystem services, focussing on the carbon storage service. We used a choice experiment to elicit the willingness to pay (WTP) of a representative sample of the Scottish public to support interventions that would maintain or improve the provision of these services. Furthermore, we tested the effect of information on individuals' preferences and WTP with a split sample approach where one group received a treatment in the form of additional information. We found that (i) all attributes had a significant influence on individuals' choices; (ii) both groups had, on average, a positive marginal WTP for all presented ecosystem services; (iii) the treated sample had, on average, no significantly different marginal WTP for carbon storage than the control group. This paper adds to the limited literature on the saltmarsh carbon storage ecosystem service and demonstrates a developed nation's public's openness to nature-based climate change mitigation solutions. [Display omitted] • The Scottish public on average prefers saltmarsh management over the status quo. • Providing additional information reduced heterogeneity in WTP for carbon storage. • Most respondents preferred an improvement of all saltmarsh ecosystem services. • Therefore management should focus on both climate change mitigation and adaptation. [ABSTRACT FROM AUTHOR]

Abstract Reducing power sector emissions in China is a critical step toward mitigating climate change and lowering health damages from air pollution. We conduct a discrete choice survey (N = 1060) among urban residents from 10 Chinese cities, assessing how individuals compare electricity source, cost, and reduction of emissions related to climate change or air pollution. Using observed air quality data, we also evaluate how pollution levels affect respondents' support for different types of emissions reductions. We find that reductions targeting both climate change and human health benefits have stronger support than those which address only one of the two. Furthermore, respondents in cities with the highest annual concentrations of particulate matter are willing to pay 30% more to clean up the air when compared to individuals living in less polluted cities. The analysis suggests that the public values co-optimizing mitigation policy across climate and health objectives, and that making available information on long-term air quality may encourage sustained support for cleaner energy. [ABSTRACT FROM AUTHOR]

We introduce a methodology to estimate the determinants of the formation of technology diffusion networks from the patterns of technology adoption. We apply this methodology to wind energy, which is one of the key technologies in climate change mitigation. Our results emphasize that, in particular, long-term relationships as measured by economic integration are key determinants of technological diffusion. Specific support measures are less relevant, at least to explain the extensive margin of diffusion. Our results also highlight that the scope of technological diffusion is much broader than what is suggested by the consideration of CDM projects alone, which are particularly focused on China and India. Finally, the network of technological diffusion inferred from our approach highlights the central role of European countries in the diffusion process and the absence of large hubs among developing countries. [ABSTRACT FROM AUTHOR]

The ambitious goals to limit global warming can only be reached with a broad acceptance and participation of the general public. This paper relies on surveys among citizens in China, Germany and the U.S. and investigates the determinants of the acceptance of national and international adaptation and mitigation efforts. The empirical findings indicate that specific beliefs and environmental awareness are important drivers in all three countries, while political attitudes and socio-economic characteristics are the main sources of cross-country heterogeneity. The study thereby points at important starting points and target groups for raising the acceptance of national and international climate policy. [ABSTRACT FROM AUTHOR]

This paper empirically explores the linkage between the economic opportunities and climate adaptation and other antecedents in cities. Our dependent variable includes the economic opportunities identified by the cities; our independent variables are the adaptation plans, adaptation actions, climate change risks, incentive types, and incentivized stakeholders. To explore the effects of climate change risks, adaptation plans, adaptation actions, incentive types, and incentivized stakeholders, we used polychoric factor analysis and logistic regression analysis. The results show that a city's climate change adaptation plan and GDP have significant positive relationships with the economic opportunities present in the cities. Meanwhile, climate change risks also have a positive relationship with economic opportunities. Furthermore, economic opportunities present in cities have a negative relationship with three variables: one group of climate actions and two groups of stakeholders. This paper also further discusses the possible effects of incentives in the case of climate change in cities. [ABSTRACT FROM AUTHOR]

Rephrasing Keynes, we could say we are capable of irreversibly warming the planet because it does not pay a dividend. The aim of this article is to propose a novel policy to decouple the economic system from greenhouse gas emissions by legally redefining the way dividends are computed, thus changing corporations' main objective. The basic idea is to make the pursuit of self-interest by shareholders compatible with the common good, i.e. actual climate change mitigation. In order to distribute income to their shareholders, corporations should curb their greenhouse gas emissions. Such income should be proportional to the companies' achievements, providing a powerful incentive to change production and delivery schemes. Although it implies that the system would no longer revolve around the accumulation of profits, shareholders' income would also depend on economic prosperity and less unequal distribution of resources. Profits would have a secondary role to play, only to the extent of avoiding bankruptcy in the long run. This novel policy, that we propose to call "climatism", as opposed to "capitalism", could be a way to move towards a post-growth or wellbeing economy. [ABSTRACT FROM AUTHOR]

An efficient climate policy is based on cost-benefit analysis (CBA) and equates marginal abatement costs across all forcing agents affecting climate change. In CBA, the agents' contributions to radiative forcing (RF) must be consistently priced (i.e. the social cost of RF, occurring at a specific time, must be the same regardless of the agent causing it). We present a concept that enables doing so. The Social Cost of Forcing (SCF) is the monetary value of the social damage caused by marginal RF at a given instant (Wm − 2 ). Any forcing agent whose temporal decay profile and radiative efficiency are known can be priced based on it. Prices obtained for distinct agents are consistent in CBA, as long as the same SCF and discounting assumptions are applied. Hence, the SCF is a concise way to communicate social cost information: mutually consistent prices for any set of forcing agents can be obtained based on a single Integrated Assessment Model output, the SCF. We explain the theoretical foundations of the concept and illustrate its practical applications with two examples: (1) we derive SCF-based prices for CO 2 and CH 4 , and (2) we estimate the social cost of albedo changes in a boreal forest stand. [ABSTRACT FROM AUTHOR]

The rational choice model of voluntary public good provision predicts that an individual's contribution to climate change mitigation responds negatively to larger contributions by others whereas social norm theory maintains that one's own contribution is positively related to that of others. This paper tests the competing hypotheses empirically using representative data for about 30,000 individuals from 23 European countries. The paper finds that, up to a threshold percentage of others perceived to engage in mitigation, individuals' willingness to engage in mitigation themselves is lower the more other individuals are perceived to engage in such behavior, whereas the relationship is positive when the threshold is passed. Since the actual percentage of others perceived to engage in mitigation is lower than the estimated threshold (30 to 56%) in a number of countries, marginal increases in the percentage of others perceived to behave in a climate-friendly way may backfire by enhancing free-rider behavior. For the social norm to take grip, policy-induced non-marginal increases of perceptions may be required to shift the system past the tipping point. [ABSTRACT FROM AUTHOR]

Activists and scholars increasingly blame neoliberalism for the failure to sharply reduce greenhouse gas emissions, but there is insufficient research that investigates the theoretical link between neoliberalism and climate paralysis. This paper seeks to fill that gap by presenting a coherent account of how neoliberal ideology has constrained policies to address climate change in the United States. As motivation, we first present evidence suggesting more neoliberal countries perform worse in addressing climate change. We then analyze how three tenets of neoliberal ideology—to decentralize democracy, defund public investment, and deregulate the economy—have stymied climate action in the United States. Finally, we discuss the Green New Deal as a decisively anti-neoliberal framework that seeks to wield the power of the federal government to pursue large-scale public investments and binding climate regulations for rapid decarbonization. [ABSTRACT FROM AUTHOR]

• Optimal climate change mitigation mostly focused representative agent framework. • Incomplete insurance markets adds realism and new mechanism for welfare. • Poorer households prefer stronger mitigation policies even absent redistribution. • Redistribution provides extra insurance. • Representative agent framework likely to underestimate welfare impacts of mitigation. Policy makers concerned with setting optimal values for carbon instruments to address climate change externalities often employ integrated assessment models (IAMs). In the past, these tools have relied on representative agent assumptions or other restrictive behaviour and welfare aggregations. However, there is an important trend in the economics of climate change towards including a greater degree of heterogeneity. In the face of global inequality and significant vulnerability of asset poor households, we relax the complete markets assumption and introduce a realistic degree of global household inequality. In contrast to the representative agent framework, we find that a household's position on the global wealth distribution predicts the identity of their most-preferred carbon price. Specifically, poor agents prefer strong public action against climate change to mitigate the risk for which they are implicitly more vulnerable. We find that the carbon tax fills the role of insurance, reducing the volatility of future welfare. It is this role that drives the wedge between rich and poor households' policy preferences, even in the absence of redistribution. Taking into account the risk channel, we derive an optimal tax value four times larger than standard estimates from representative agent models. [ABSTRACT FROM AUTHOR]

This paper discusses the interplay between international trade, regional adaptation to climate change and financial transfers for funding adaptation. It combines insights from a theoretical model of North-to-South transfers with the findings of a calibrated dynamic multi-region multi-sector computable general equilibrium model that takes into account the impacts of climate change and the adaptation to it. Assessing the effects of adaptation funding indicates that funding of adaptation in developing regions can be Pareto-improving. Not only will developing regions, which do not own sufficient resources for adapting optimally, profit from receiving adaptation funding. Terms-of-trade improvements in the high and middle income donor countries can dominate transfer costs and hence lead to a net-welfare gain in almost any developed region except North America. As such our consideration adds a new argument for financially supporting adaptation in the developing world besides the well-known ones such as fairness and incentives for participation in a global climate treaty. [ABSTRACT FROM AUTHOR]

The impacts on biodiversity and ecosystems are among the key reasons for concern about climate change. Integrated assessment models are the main tools used to estimate the global economic benefits of policies that would address climate change, but these models typically include only a partial accounting and idiosyncratic treatment of ecosystem impacts. Here, we review several recent studies of the impacts of climate change on biodiversity and show that the biodiversity value function in the FUND integrated assessment model is insensitive to predicted biodiversity loss, instead depending almost entirely on temperature changes per se. We use quantitative estimates of the influence of global warming on species extinction rates to re-calibrate the biodiversity loss function in FUND, and develop a new global biodiversity nonuse value function calibrated using results from two previous studies of people's willingness to pay to prevent the loss of tropical rainforests and to protect endangered species in the U.S. In contrast to the ecosystem damages function in FUND, our biodiversity value function depends on temperature only indirectly through its influence on biodiversity loss. Finally, we highlight areas where further research is needed for developing more comprehensive and reliable forecasts of ecosystem damages related to climate change. [ABSTRACT FROM AUTHOR]

Intergovernmental organisations have developed into important sites of normative contestation where increasingly non-state actors participate. A common puzzle is however whether engaged non-state actors represent already strong and established interests or if they also bring forth marginalised voices. This concern raises the pertinent question of what views non-state actors actually represent and if this adds to the perspectives voiced by state actors. This paper examines the views held and voiced by state and a range of non-state participants at the United Nation's climate change conferences. Specifically, questions on what types of climate change solutions are favoured and to what extent these solutions are discussed are addressed. Through statistical analyses of questionnaire data and a content analysis of abstracts of side-events to the conferences, we find that while non-state actors help in broadening the discursive space, some perspectives remain marginalised. We conclude that while non-state actors represent a pluralising force, greater non-state actor participation in intergovernmental organisations is on its own unlikely to lead to democratic global governance. [ABSTRACT FROM AUTHOR]

In cost-benefit analysis of climate policy there are two main approaches to discounting, each with implications conflicting with our moral intuitions. Thus, discounted utilitarianism implies that we hardly need to protect future generations against climate change, while classical utilitarianism implies that we should reduce our consumption across the board to benefit future generations. The insolubility of the debate derives from the fact that both classical and discounted utilitarianism permit only a single discount rate for all consequences occurring in the same future year, while our intuitions clearly do distinguish between consequences, depending on whether we cause adverse effects on other people's interests and violate their rights. Most people share the moral intuition that we ought to refrain from harming others, and ought to compensate them if we were unable to prevent harm. To regain a reflective equilibrium between such deontological intuitions and economic theory there is a need to accept different discount rates for different situations: a zero consumption discount rate in the case of cost-benefit analysis of measures to prevent wrongful harm to future generations, and standard discounting in all other cases. Applying a zero consumption discount rate means that future generations are automatically largely compensated for climate damage that remains unmitigated. [ABSTRACT FROM AUTHOR]

Words matter when talking about climate change. They influence thinking and ultimately behaviors. We contend that certain kinds of words frequently used in climate change communication, namely euphemisms, can undermine the objectives of raising climate change awareness and changing behaviors to reduce emissions. We characterize euphemisms related to climate change issues and show how they are often manipulated to serve vested interests opposing climate change action. In particular, we highlight euphemistic names of astroturfing organizations that aim to persuade consumers or citizens. We conclude by suggesting some practical ways to prevent or avoid detrimental consequences associated with euphemisms and draw several policy implications. [ABSTRACT FROM AUTHOR]

The uptake of actions to mitigate climate change at the household level might crowd out subsequent policy at the national level, which is problematic because national policy often has a larger mitigation potential than individual household measures. This study analyses crowding out between the uptake of low-cost actions and the support for national climate change policy in the agricultural sector. In the experimental set-up, survey respondents were primed to think about the implementation of low-cost mitigation practices and subsequently asked to express support for national mitigation policy. The results show a crowding-out effect between individual mitigation measures and support for national policy. Individuals with high levels of worry show a stronger crowding out effect. This study contributes to building understanding of when and why crowding out occurs in order to help frame and communicate future climate change policy. • Individual mitigation measures crowd out support for national climate change policy. • Crowding out is stronger within the climate change domain than biodiversity domain. • Individuals with high levels of worry show a stronger crowding out effect. [ABSTRACT FROM AUTHOR]

Farmers' adoption of climate change mitigation measures is key to successfully reduce agricultural greenhouse gas emissions. This article investigates the role of non-cognitive skills, namely self-efficacy and locus of control, in farmers' uptake of mitigation measures. The study is based on a combination of survey and census data from 105 farmers in Switzerland. Almost all farmers in our sample already adopt some of the considered measures to reduce greenhouse gases on their farm. On average, 37% of the mitigation measures available to the specific farm type are adopted. We find that a one standard deviation increase in non-cognitive skills is associated with a 20 to 40% higher share of adopted mitigation measures. This relationship is robust to the inclusion of a comprehensive vector of controls, inspired both from the agricultural economics and the psychology literature. Additionally, we find that omitted variable bias would need to be implausibly large to refute our findings. Finally, we explore potential mechanisms. The suggested pathway through which non-cognitive skills are associated with the adoption of climate change mitigation measures is the innovativeness of the farmers. Fostering farmers' non-cognitive skills could be an effective policy lever to accelerate the diffusion of climate change mitigation measures. • Understanding farmers' climate change mitigation behavior is key for reducing agricultural greenhouse gas emissions. • Non-cognitive skills are positively associated with adoption of mitigation measures adoption. • Innovativeness is the suggested mechanism towards the uptake of greenhouse gas mitigation measures. [ABSTRACT FROM AUTHOR]

This study explored whether EU's new Farm to Fork strategy (F2F)—which aims to tackle climate change, protect the environment and preserve biodiversity in the pursuit of more sustainable food practices—moves in a direction that matches consumer concerns about global issues. A key point is that the traditional differences between the policy approaches related to climate change mitigation and to biodiversity protection, respectively, correspond to differences between environment-based and nature-based attitudes at an individual level. Data from Eurobarometer 92.4 (2019) provided a set of environmental concerns and two food-related pro-environmental actions (buying local products and making a diet change to more sustainable food). Consumer responses to the latter option were assumed to indicate steps in parallel with F2F. Two multinomial regression analyses were carried out separately in Northwestern European countries, and in Eastern and Southern European countries. In both analyses, climate change and species decline were distinct sources of consumer concern, which were—independent of one another—more strongly related to reporting both options than to one option only. It was concluded that the F2F policy is in line with consumer concerns about environment and nature and that this may create important new perspectives for policymakers, businesses and consumers. • This study addresses EU consumer concerns about climate change vs.species decline. • The theoretical part explains that these concerns may involve different attitudes. • Regression analysis focuses on reported diet changes to more sustainable food. • Both concerns are independently related to reported diet change. • The discussion clarifies the relevance of the results to the EU Farm to Fork strategy. [ABSTRACT FROM AUTHOR]

Climatic changes will affect the dynamics of a forest ecosystem. Consequently, carbon sequestration costs can only be estimated correctly if changes in climatic conditions are considered. This article determines the changes in mitigation costs of an optimal forest management regime in the presence of climatic changes and varying prices, and takes account of substitution processes between timber production and carbon sequestration at the stand level. The study demonstrates that in the presence of climate change the sequestration costs per ton of carbon increase with higher amounts of carbon sequestered per hectare. This finding can be used to identify a threshold for the amount of sequestered carbon per hectare below which the costs of carbon sequestration are hardly influenced by climate change. [Copyright &y& Elsevier]

Abstract: Plural values contribute to multiple arrays of expressed preferences. Conventionally, preference convergence toward consensus among initially disagreeing decision makers is understood in terms of diminishing value differences. A cogent account of consensual decision that respects non-diminishing value plurality is lacking. Instead there is a theoretic expectation for categorical consistency between subjective values and expressed preferences. Valuing agents in social interaction are expected to indicate identical preference orderings only if they hold correspondingly identical categories of values. This expectation precludes meaningful conceptualization of preference convergence under divisive normative dispositions. An alternative framework is proposed and illustrated by results from a designed deliberative forum on Australia''s climate change policy. Data were analyzed based on Q methodology. Results show that small-group deliberations enabled effective communication between distinctive subjective positions and broadened understandings between individuals. While a consensual decision gained progress, no identified value discourse diminished below a significant degree. Observed changes in values did not run parallel to the converging preferences, suggesting a decline in value-preference consistency. These changes nonetheless are amenable to the principle of value pluralism. An alternative rationality concept is needed to account for this moral ideal within economics. [Copyright &y& Elsevier]

Abstract: This paper describes a new model, Climate and Regional Economics of Development (CRED), which is designed to analyze the economics of climate and development choices. Its principal innovations are the treatment of global equity, calculation of the optimum interregional flows of resources, and use of McKinsey marginal abatement cost curves to project the cost of mitigation. The unconstrained, optimal climate policy in CRED involves very large capital flows from high-income to developing countries, to an extent that might be considered politically unrealistic. Under more realistic constraints, climate outcomes are generally worse; climate stabilization requires either moderate capital flows to developing countries, or a very low discount rate. In CRED, more equitable scenarios have better climate outcomes; the challenge of climate policy is to persuade high-income countries to accept the need for both international equity and climate protection. The paper ends with an agenda for further model development. A technical appendix describes the model relationships and parameters in greater detail. [Copyright &y& Elsevier]

Abstract: Climate change is changing not only our physical world, but also our intellectual, social, and moral worlds. We are realizing that our situation is profoundly unsafe, interdependent, and uncertain. What, then, does climate change demand of economists, as human beings and as professionals? A discipline of economics based on Enlightenment notions of mechanism and disembodied rationality is not suited to present problems. This essay suggests three major requirements: first, that we take action; second, that we work together; and third, that we focus on avoiding the worst, rather than obtaining the optimal. The essay concludes with suggestions of specific steps that economists should take as researchers, teachers, and in our other roles. [Copyright &y& Elsevier]

This action-research project aimed to test a participatory mapping methodology using Google Earth to develop shared understandings among participants about sustainability and climate change. The process focused on improving knowledge uptake and enabling dialogue among participants in order to develop adaptation strategies for Rottnest Island, off the Western Australian coast. Project results indicate increased levels of knowledge and commitment to active involvement in sustainability and climate change issues. Common threads came together in a coherent set of recommendations that will contribute to ongoing climate change and sustainability planning by the Rottnest Island Authority. Major conclusions drawn include: the usefulness of Google Earth for participatory planning for climate adaptation and sustainability; the methodology enables social, economic, ecological and cultural layers to be considered without any having primacy; care must be taken to ensure knowledge and power differential are managed effectively; and, the methodology brought together stakeholders and scientists to co-produce knowledge and decisions. [Copyright &y& Elsevier]

International transfers in climate policy channeled from the industrialized to the developing world either support the mitigation of climate change or the adaptation to global warming. From a purely allocative point of view, transfers supporting mitigation tend to be Pareto-improving whereas this is not very likely in the case of adaptation support. We illustrate this by regarding transfer schemes currently applied under the UN Framework Convention on Climate Change (UNFCCC) and the Kyoto framework. However, if we enrich the analysis by integrating distributional aspects, we find that international adaptation funding may help both the developing and developed world. Interestingly this is not due to altruistic incentives, but due to follow-up effects on international negotiations on climate change mitigation. We argue that the lack of fairness perceived by developing countries in the international climate policy arena can be reduced by the support of adaptation in these countries. As we show – taking into account different fairness concepts – this might raise the prospects of success in international negotiations on climate change. Yet, we find that the influence of transfers may induce different fairness effects on climate change mitigation negotiations to run counter. We discuss whether current transfer schemes under the UNFCCC and the Kyoto framework adequately serve the distributive and allocative objectives pursued in international climate policy. [Copyright &y& Elsevier]

Reducing Emissions from Deforestation and forest Degradation (REDD+) is critical in efforts to mitigate the effects of anthropogenic climate change. Despite uncertainty about the exact form of a future, international REDD+ system, REDD+ carbon property rights would need to be created and allocated with liability assigned for the potential loss of climate benefits in the event of carbon reversal from deforestation. This commentary explores the links between forest property rights and liability, to different REDD+ policy options and their implications for permanence. Should national governments retain liability for permanence then project-level activities that have individually-assigned REDD+ carbon rights may have a higher risk of carbon reversal than policies where rights are assigned to the state. Knowledge of pre-existing forest rights is necessary for some policies implemented with government-assigned REDD+ rights in order to compensate for potential income losses from policy implementation. [Copyright &y& Elsevier]

We use behavioral and experimental economics to study a particular aspect of the economics of climate change: the potential trade-off between countries'' investments in mitigation versus adaptation. While mitigation of greenhouse gases can be viewed as a public good, adaptation to climate change is a private good, benefiting only the country or the individual that invests in adaptation. We use a one-shot public-goods game that deviates from the standard public-goods game by introducing a stochastic term to account for probabilistic destruction in a climate-change setting, where the probability density function is mapped to within-group levels of mitigation. We compare low-vulnerability and high-vulnerability treatments by varying the magnitude of disaster across treatments. Our results show that there is no significant difference in the level of mitigation across these treatments. Further, our results emphasize the role of trust in enhancing cooperation. [Copyright &y& Elsevier]

Abstract: Slowing tropical deforestation can reduce global carbon emissions and prevent climate change. This article estimates the costs of preserving the carbon sequestration and storage services of tropical forests in the Philippines, and compares the costs of this approach to mitigating climate change with the costs of alternative abatement options in the developed world. Unlike most previous studies, the analysis estimates costs based on opportunity costs and includes non-market activities such as subsistence agriculture. The analysis finds that while the opportunity costs for the Philippines are significant, countries like the U.S. may find paying the Philippines for forest conservation to be a cost-efficient alternative to reducing emissions within their own borders. [Copyright &y& Elsevier]

This paper explores the epistemological basis for economic prognostications of climate change activists arising from, arguably, the most important scientific problem confronting modern society: the facts, beliefs and theories associated with the measurement, causes, impact and mitigation of climate change. This facilitates identification of the role that rhetoric plays in activist claims associated with the economics of global warming and climate change. Following a rudimentary discussion of ancient views on rhetoric, the connection of rhetoric with anti-foundational epistemology and language is identified. Criteria for determining when language is rhetorical are specified. Exploiting this philosophical background, mitigation proposals of climate change activists derived from models of climate change economics are critiqued. • Clarifies the role of rhetoric in climate change mitigation proposals. • Provides background on the historical development of rhetoric that is absent for available literature in ecological economics. • Critiques prognostications of economic models for climate change mitigation proposals. • Explores the connection between rhetoric, epistemology and language in the context of climate change activism. [ABSTRACT FROM AUTHOR]

In this study, we examine whether Willingness To Pay (WTP) for green energy is related to hope and several attitudes towards climate change, namely, denial, worry and level of understanding. Using cross-sectional data comprising answers from 905 respondents from the Netherlands, we find that people who are more generally hopeful are willing to pay more for green energy, but only if this hope is not based on denial of the severity of the issue. In addition, we find that WTP is associated with understanding and worry, and that these attitudes are even more closely related to WTP if they are accompanied by hope. Hope based on denial however strengthens the negative relation of a lack of worry and understanding with WTP. These findings highlight the importance of fostering realistic hopes regarding climate change to encourage sustainable behaviour, and could help to frame sustainability policies and measures in a way that maximizes people's willingness to support and contribute to investments in climate change mitigation. [ABSTRACT FROM AUTHOR]

The long-term management of natural capital is essential for the stable and resilient flow of ecosystem services for future generations facing climatic uncertainty. Understanding its resilience to extreme natural events, using biological principles, and integrating them into more holistic systems-wide modelling techniques is crucial to evaluate and design the wider economic impacts from alternative management interventions. Here we developed a probabilistic and system-wide bio-economic model to measure extreme economic impacts from natural events using the financial concept of Value at Risk. We have applied the new extreme economic impact metric to measure the economy-wide impact from the disruption of mountain-biking recreational services in the Whakarewarewa peri-urban forest in Rotorua, New Zealand from a potential windthrow event. We identified that extreme natural events, such as windthrows, could exert a substantial impact on the urban forest-dependent regional economy. This impact could potentially be intensified by the CO 2 forest fertilization effects predicted under future climate scenarios and by adopting low-intensity silvicultural regimes currently rewarded by national climate change mitigation policies. Some of the insights from this study could be the precursors to develop robust adaptation strategies using robust decision-making techniques considering inclusive environmental-economic accounting frameworks. • Natural capital management is essential for services' resilience under climate change • Bio-economic model measuring impacts from extreme natural events using value-at-risk • Case of disrupted mountain-biking activities in urban forest from windthrow event • Climate change effects on forests will have wider impacts through ecosystem services • Managing forests to sequester carbon could have wide, unintended economic consequences [ABSTRACT FROM AUTHOR]

Economic theory has invoked moral motivation as an explanation for the voluntary provision of public goods but is vague with regard to the specific moral concerns involved. Focusing on climate change as a case study, this paper relates morally-motivated public good provision to the six moral foundations (MFs) identified by moral psychologists: Care, Fairness and Liberty (individual-focused), and Loyalty, Authority and Sanctity (group-focused). Using data from the European Social Surveys it is found that using the MFs in addition to standard explanatory variables improves the explanation of climate-friendly behaviors and endorsement of climate-friendly regulations. While the Fairness and Care foundations are strong and robust predictors of the dependent variables, the Loyalty foundation contributes positively only when neglecting the nature of climate change mitigation as a global public good. More generally, in contrast to the individual-focused MFs (that apply to all individuals), the group-focused MFs are of little direct relevance to climate change mitigation – consistent with the benefit from mitigation extending beyond the in-group (family, neighborhood, region, or nation) to which these MFs refer. Group-focused MFs are only of indirect relevance as their endorsement fosters general environmental concern. • Voluntary public good provision is frequently explained by moral motivation, • Moral psychologists have identified six fundamental moral concerns potentially relevant to public good provision. • Using the six moral foundations (MFs) improves the explanation of climate-friendly behaviors. • Individual-focused (universalist) MFs, not group-focused MFs, are positively related to climate-friendly behavior. [ABSTRACT FROM AUTHOR]

We study at the individual level the connection between actions to reduce energy consumption and beliefs about the personal responsibility for climate change mitigation. Also examined is the role of human values and differences between countries in shaping beliefs and actions. Using data from 23 (mostly) European countries, we find large heterogeneity in both beliefs and actions, with wealthy countries more likely to be concerned about the environment. Personal responsibility and efforts to save energy are positively but weakly related. Regarding human values, self-transcendence and openness are positively associated with responsibility, while self-enhancement and conservation are negatively correlated. Values are less connected to energy saving, with a relationship that is positive with conservation and negative with self-enhancement. • We compare energy reduction behaviour with perceived responsibility on climate change. • We study human values and country differences in shaping perceptions and behaviours. • We find large heterogeneity in the 23 (mostly) European countries considered. • Responsibility and energy reduction positively correlate, but the correlation is small. • Human values are more highly correlated with responsibility than with energy saving. [ABSTRACT FROM AUTHOR]