President Trump threatens to undermine key measure of climate policy success

William Nordhaus is among the best at
dissecting the costs of climate change.

One of the key measures President Barack Obama used to develop climate policy could be under threat under President Donald Trump. The “social cost of carbon”, a dollar measure of how much damage is inflicted by a tonne of carbon dioxide, underpins many US and other energy-related regulations (and in the UK too, for example).

The latest estimates from William Nordhaus, one of the best-known economists dealing with climate change issues (together with Nicholas Stern), put the social cost of carbon in 2015 at a baseline of US$31.20. This rises over time as the impacts of climate change worsen.

Conversely, the social cost of carbon is also the “government’s best estimate of how much society gains over the long haul” by reducing CO₂ emissions.

Nordhaus uses an economic model known as the Dynamic Integrated Climate-Economy (or DICE) model, which he developed in the 1990s. I understand it’s one of the leading models for examining the effects of climate change on the economy. Other researchers have adapted and modified DICE to examine issues associated with the economics of climate change.

Read the thoughts of an Associate Professor from the University of Western Australia, David Hodgkinson, on The Conversation - “President Trump threatens to undermine key measure of climate policy success.”

Communities at the front-line as climate change challenges arise

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ommunity will be the front-line as people stand together to address the unfolding circumstances arising from climate change.

The adage of “United we stand, divided we fall” underlines the importance of community as towns and cities, and their communities, link arms deal with hitherto unknown dilemmas.

Integral to the inherent strength of communities will be how they are designed and structured and with that in mind it was interesting read an observation about this in  Nicholas Stern’s new book: “Why Are We Waiting?: The Logic, Urgency, and Promise ofTackling Climate Change”.

The fellow responsible for the legendary “Stern Report” that considered the economic impacts of climate change and how best to reduce or limit costs wrote:

The design of towns and cities, for example, will be crucial as the world urbanizes. The structure of future towns and cities as the world moves from around half urbanized to three-quarters or more in the next few decades will be crucial (approximately equivalent of three additional billion people in cities). Much of what is likely to be necessary will have a strong community focus: increased public transport options to encourage wider social interactions; encouraging modal shifts like walking or cycling to increase health and decrease local pollution; recycling and reusing to reduce waste; advanced combined heat and power systems; more housing options for increased social inclusion, and so on. The community focus necessary for resource efficiency is likely to have strong further benefits in the form of more cohesive societies.

Global warming doesn't get a look in - in Australia it's the economy, in the U.S. is gay marriage

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enior Australia politicians have argued that the economy is vastly more important than concerning themselves about equity in marriage, meaning gay marriage.

Rick Santorum - he thinks it is more
 important to attend to gay marriage
than climate change.

Such a position is similar, but different from that in the U.S. where Rick Santorum, one of the many climate-denying GOP candidates running for president in 2016, who has argued that gay marriage is more deserving of attention than climate change.

Both are clearly about “business as usual”, growth and maintenance of the status-quo, a dynamic which Nicolas Stern says in his new book “Why Are We Waiting?: The Logic, Urgency, and Promise of Tackling ClimateChange” promise only serious climate disruption.

Soon after the U.S. Supreme Court of judicial overreach with its decision on Friday that effectively made same-sex marriage legal across the country Santorum said: “Instead of doing their proper limited job, they’ve decided to step into the realm of politics.”

Read the EcoWatch story, “Rick Santorum: We Need to Fight Gay Marriage More Than Climate Change”.

Are we seeing stubbornness or stupidity?

Lord Nicholas Stern - combatting
climate change and growth
not incompatible.

Australia’s Prime Minister, Tony Abbott, and his Treasurer, Joe Hockey, have illustrated a stubbornness that could be equated with stupidity.

The pair, facing obvious and overwhelming odds, refused to acknowledge, even when questioned directly that economic growth was inextricably linked to a benign climate, the weakness in their thinking.

Their resistance to the idea and adherence to the belief that the world’s future security and wellbeing was to be found in economic affairs did not even fade when faced with a contrary view from British economist, Lord Nicholas Stern, who in 2006 reviewed the economics of climate change.

Today London’s Financial Times discussed that view in a story headed: “Growth and fighting global climate change not incompatible”.

Nicholas Stern warns of catastrophic climate change



Nicholas Stern.

A five degree increase in global temperatures is becoming increasingly likely according to the British former chief economist for the World Bank, Nicholas Stern.
 

A five degree increase in global temperatures is becoming increasingly likely according to the British former chief economist for the World Bank, Nicholas Stern.
 

Stern, who wrote a 2006 study on climate change, said on Tuesday, April 2, that the world could be headed toward warming even more catastrophic than expected but he voiced hope for political action.
 

He said that without changes to emission trends, the planet had roughly a 50 percent chance that temperatures would soar to five degrees Celsius (nine degrees Fahrenheit) above pre-industrial averages this century.
 

"We haven't been above five degrees Centigrade on this planet for about 30 million years. So you can see that this is radical change way outside human experience," Stern said in an address at the International Monetary Fund.
 

The economist was quoted in an international news story headed: “Economist warns of 'radical' climate change, millions at risk”.