Abstract

http://ssrn.com/abstract=1957537
 
 

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Adaptation Can Help Mitigation: An Integrated Approach to Post-2012 Climate Policy


Francesco Bosello


Fondazione Eni Enrico Mattei (FEEM); University of Milan - Department of Economics, Business and Statistics; Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC)

Carlo Carraro


Fondazione Eni Enrico Mattei (FEEM); Ca Foscari University of Venice - Department of Economics; Centre for Economic Policy Research (CEPR); CMCC - Euro Mediterranean Centre for Climate Change (Climate Policy Division); IPCC Working Group III

Enrica De Cian


Fondazione Eni Enrico Mattei (FEEM); Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC)

November 10, 2011

FEEM Working Paper No. 69.2011
CMCC Research Paper No. 112

Abstract:     
The latest round of international negotiations in Copenhagen led to a set of commitments on emission reductions which are unlikely to stabilise global warming below or around 2°C. As a consequence, in the absence of additional ambitious policy measures, adaptation will be needed to address climate-related damages. What is the role of adaptation in this setting? How is it optimally allocated across regions and time? To address these questions, this paper analyses the optimal mix of adaptation and mitigation expenditures in a cost-effective setting in which countries cooperate to achieve a long-term stabilisation target (550 CO2-eq). It uses an Integrated Assessment Model (AD-WITCH) that describes the relationships between different adaptation modes (reactive and anticipatory), mitigation, and capacity-building to analyse the optimal portfolio of adaptation measures. Results show the optimal intertemporal distribution of climate policy measures is characterised by early investments in mitigation followed by large adaptation expenditures a few decades later. Hence, the possibility to adapt does not justify postponing mitigation, although it reduces its costs. Mitigation and adaptation are thus shown to be complements rather than substitutes.

Number of Pages in PDF File: 38

Keywords: Climate Change Impacts, Mitigation, Adaptation, Integrated Assessment Model

JEL Classification: Q54, Q56, Q43

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Date posted: November 10, 2011 ; Last revised: May 12, 2013

Suggested Citation

Bosello, Francesco and Carraro, Carlo and De Cian, Enrica, Adaptation Can Help Mitigation: An Integrated Approach to Post-2012 Climate Policy (November 10, 2011). FEEM Working Paper No. 69.2011; CMCC Research Paper No. 112. Available at SSRN: http://ssrn.com/abstract=1957537 or http://dx.doi.org/10.2139/ssrn.1957537

Contact Information

Francesco Bosello
Fondazione Eni Enrico Mattei (FEEM) ( email )
Campo S. M. Formosa, Castello 5252
Venezia, 30122
Italy
+39 041 271 1459 (Phone)
+39 041 271 1461 (Fax)
University of Milan - Department of Economics, Business and Statistics
Via Festa del Perdono, 7
Milan, 20122
Italy
Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC)
Viale Gallipoli, 49
Lecce, 73100
Italy
Carlo Carraro (Contact Author)
Fondazione Eni Enrico Mattei (FEEM) ( email )
Campo S. M. Formosa, Castello 5252
Venezia, 30122
Italy
+39 04 1271 1453 (Phone)
+39 04 1271 1461 (Fax)
Ca Foscari University of Venice - Department of Economics ( email )
Cannaregio 873
Venice, 30121
Italy
+39 04 1234 9166 (Phone)
+39 04 1234 9176 (Fax)
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
CMCC - Euro Mediterranean Centre for Climate Change (Climate Policy Division)
73100 Lecce
Italy
Intergovernmental Panel on Climate Change (IPCC)
A. van Leeuwenhoeklaan 9
P.O. Box 1
BA Bilthoven 3720
Netherlands
+31 30 274 4281 (Phone)
+31 30 274 4464 (Fax)
Enrica De Cian
Fondazione Eni Enrico Mattei (FEEM) ( email )
Campo S. M. Formosa, Castello 5252
Venice, 30122
Italy
Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC) ( email )
Viale Gallipoli, 49
Lecce, 73100
Italy
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