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

38 Pages Posted: 10 Nov 2011 Last revised: 12 May 2013

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; CMCC - Euro Mediterranean Centre for Climate Change (Climate Policy Division); IPCC; Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute); Centre for European Policy Studies, Brussels; Green Growth Knowledge Platform; International Center for Climate Governance

Enrica De Cian

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

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Date Written: November 10, 2011

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.

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

JEL Classification: Q54, Q56, Q43

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: https://ssrn.com/abstract=1957537 or http://dx.doi.org/10.2139/ssrn.1957537

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 )

Isola di San Giorgio Maggiore 8
Venezia, 30124
Italy
+39 04 12700460 (Phone)
+39 04 12700412 (Fax)

Ca' Foscari University of Venice ( email )

Cannaregio 873
Venice, 30121
Italy
+39 04 1234 9166 (Phone)
+39 04 1234 9176 (Fax)

HOME PAGE: http://www.carlocarraro.org/

CMCC - Euro Mediterranean Centre for Climate Change (Climate Policy Division) ( email )

Via Augusto Imperatore 16
Lecce, 73100
Italy
+39 0832 288650 (Phone)
+39 0832 277603 (Fax)

IPCC ( email )

C/O World Meteorological Organization
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Switzerland
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+41-22-730-8025/13 (Fax)

Centre for Economic Policy Research (CEPR)

77 Bastwick Street
London, EC1V 3PZ
United Kingdom

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Centre for European Policy Studies, Brussels

1 Place du Congres
B-1000 Brussels, 1000
Belgium
+32 2 229 3911 (Phone)
+32 2 219 4151 (Fax)

Green Growth Knowledge Platform ( email )

International Environment House
11-13 chemin des Anemones
Geneva, 1219
Switzerland

HOME PAGE: http://www.greengrowthknowledge.org/

International Center for Climate Governance ( email )

Island of San Giorgio Maggiore 8
Venice, I-30124
Italy

HOME PAGE: http://www.iccgov.org/

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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