Cost-Risk Trade-off of Solar Radiation Management and Mitigation under Long-Tailed Climate Sensitivity Probability Density Distributions
Abstract
Solar radiation management (SRM) might be able to reduce the anthropogenic global mean temperature rise but unable to do so for other climate variables such as precipitation, particularly with respect to regional disparities due to changes in planetary energy budget. We apply cost-risk analysis (CRA), which is a decision analytic framework that trades off the expected welfare-loss from climate policies costs against the climate risks from exceeding an environmental target. Here, in both global- and `Giorgi'-regional-scale analyses, we study the optimal mix of SRM and mitigation under probabilistic knowledge about climate sensitivity, in our numerics ranging from 1.01°C to 7.17°C. To do so, we generalize CRA for the sake of including temperature risk, global and regional precipitation risks. Social welfare is maximized in three scenarios, considering a convex combination of climate risks: temperature-risk-only, precipitation-risk-only, and equally weighted both-risks. Our global results represent 100%, 65%, and 90% compliance with 2°C-temperature target and simultaneously 0%, 100%, and 100% compliance with 2°C-compatible-precipitation corridor respectively in temperature-risk-only, precipitation-risk-only, and both-risks scenarios. On the other hand, our regional results emphasize that SRM would alleviate the global mean temperature to be complied with 2°C-temperature target for about 100%, 95%, and 95% of climate sensitivities in temperature-risk-only, precipitation-risk-only, and both-risks scenarios, respectively. However, half of the regions suffer a very high precipitation risks when the society only cares about global temperature reduction in temperature-risk-only scenario. Our results indicate that although SRM might almost substitute for mitigation in the global analysis, it only saves about a half of the welfare-loss in a purely mitigation-based analysis (from economic costs and climate risks, in terms of BGE) when considering regional precipitation risks.
- Publication:
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AGU Fall Meeting Abstracts
- Pub Date:
- December 2016
- Bibcode:
- 2016AGUFMGC33B1231R
- Keywords:
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- 3305 Climate change and variability;
- ATMOSPHERIC PROCESSESDE: 1622 Earth system modeling;
- GLOBAL CHANGEDE: 1630 Impacts of global change;
- GLOBAL CHANGEDE: 6304 Benefit-cost analysis;
- POLICY SCIENCES