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The time scales of the climate-economy feedback and the climatic cost of growth

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  • Stéphane Hallegatte

    (CIRED - centre international de recherche sur l'environnement et le développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper is based on the perception that the inertia of climate and socio-economic systems are key parameters in the climate change issue. In a first part, it develops and implements a new approach based on a simple integrated model with a particular focus on an innovative transient impact and adaptation modelling. In a second part, a climate-economy feedback is defined and characterized. It is found that: (i) it has a 70-year characteristic time, which is long when compared to the system's other time-scales, and it cannot act as a natural damping process of climate change; (ii) mitigation has to be anticipated since the feedback of an emission reduction on the economy is significant only after a 20-year delay and really efficient after a one-century delay; (iii) the IPCC methodology, that neglects the feedback from impacts to emissions, is acceptable up to 2100, whatever is the level of impacts. This analysis allows also to define a climatic cost of growth as the additional climate change damages due to the additional emissions linked to economic growth. Usefully, this metric for climate change damages is particularly independent of the baseline scenario.

Suggested Citation

  • Stéphane Hallegatte, 2005. "The time scales of the climate-economy feedback and the climatic cost of growth," Post-Print hal-00716720, HAL.
    • Handle: RePEc:hal:journl:hal-00716720
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    Cited by:

    1. Stéphane Hallegatte & Jean Charles Hourcade, 2006. "Why economic growth dynamics matter inassessing climate change damages: illustrationon extreme events," Working Papers halshs-00009339, HAL.
    2. Marco Letta & Richard S. J. Tol, 2019. "Weather, Climate and Total Factor Productivity," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(1), pages 283-305, May.
    3. Robert Lempert & Shawn McKay, 2011. "Some thoughts on the role of robust control theory in climate-related decision support," Climatic Change, Springer, vol. 107(3), pages 241-246, August.
    4. Tol, Richard S. J., 2011. "Poverty Traps and Climate Change," Papers WP413, Economic and Social Research Institute (ESRI).
    5. Richard S J Tol, 2018. "The Economic Impacts of Climate Change," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 12(1), pages 4-25.
    6. Patrice Dumas & Minh Ha-Duong, 2013. "Optimal growth with adaptation to climate change," Climatic Change, Springer, vol. 117(4), pages 691-710, April.
    7. Richard S. J. Tol & Francisco Estrada & Carlos Gay-García, 2012. "The persistence of shocks in GDP and the estimation of the potential economic costs of climate change," Working Paper Series 4312, Department of Economics, University of Sussex Business School.

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