Envecon 176 Final PDF

envecon 176 final Study online at https://quizlet.com/_g9wcfq 1. dynamic vulnera- a change in the system that is affected by climate change bility and will change damage estimates from climate change changes in system are not caused by climate change,...

envecon 176 final Study online at https://quizlet.com/_g9wcfq 1. dynamic vulnera- a change in the system that is affected by climate change bility and will change damage estimates from climate change changes in system are not caused by climate change, reaction to a change in climate 2. agricultural dy- market share of goods namic vulnerabil- ity technological progress might change how sensitive crops react to climate change. 3. decay time of About 50% of a CO2 increase will be removed from the CO2 atmosphere within 30 years, and a further 30% will be removed within a few centuries. The remaining 20% may stay in the atmosphere for many thousands of years. 50-200 years? 4. decay time of 9-12years methane in at- mosphere 5. net damages D(T,A) = GD(T) - BA(T,A) + CA(A) function 6. discount rate table 7. incoming solar 1368 W/m^2 radiation am- nount 8. how much so- 168 lar radiation is absorbed by the 1 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq surface (short wave) 9. how much solar 67 radiation is ab- sorbed by the at- mosphere 10. how much solar 492 radiation is radi- ated by the sur- face 11. how much solar 324 reradiation ab- sorbed by the surface 12. amount of outgo- 195 ing long wave ra- diation from at- mosphere and clouds 13. % effect of GHG's 60% - water vapor 26% - co2 2 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq 8% - ozone 4.4% - methane 1.5% - N20 14. radiative forcing amount of energy that enters the atmosphere that is dif- ferent than the amount of energy that leaves it 15. GHG ranked by 1) CO2 radiative forcing 2) Methane levels 3) halocarbons 4) N20 5) CO 16. indirect and di- direct: reflect/absorb sunlight rect effect of aerosols indirect: make more and smaller cloud droplets which increases reflection but decreases rain 17. climate sensitivi- how much warming would we see in equilibrium for a ty doubling of c02 concentrations from pre industrial times 18. equilibrium cli- 3Ù C mate sensitivity 1.5-4.5Ù is very likely unlikely to be higher than 6Ù 19. transient climate the surface temperature response for the hypothetical sce- sensitivity nario in which c02 increases at 1% per year from pre-in- dustrial to the time of a doubling of co2 concentrations increasing at 1% per year = doubling of co2 after 70 years 20. PCC TCR amount 1.8ÙC (CÙ) 21. climate sensitivi- change in T = lamba x change in F ty equation lambda= 0.8x c/W/m^2 3 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq 22. climate data temperature, satellites, ice, tree rings, carbon dating, pre- sources cipitation, atmospheric composition, volcanic activity 23. Transient vs. Transient: the warming at the time of CO2 doubling (i.e. af- equilibrium cli- ter 70 years) in a 1% per year increasing CO2 experiment mate sensitivity (AKA if we look at what will happen if we increase CO2 by 1% every year and look at the warming after 70 years, that is the transient warming) (temps increase even after CO2 inputs stop because of delayed ocean buffering). Equilibrium: the temperature after many centuries 24. Major feedbacks Water Vapor Feedback:Increased temperatures lead to that are account- more atmospheric water vapor, which is a potent green- ed for in climate house gas, amplifying warming. sensitivity Cloud Feedback:Changes in cloud cover, type, and al- titude can either amplify (positive feedback) or dampen (negative feedback) warming. Albedo Feedback:Melting ice and snow reduce Earth's reflectivity (albedo), causing more solar energy to be ab- sorbed, which accelerates warming. Lapse Rate Feedback:Changes in the vertical tempera- ture profile of the atmosphere affect how efficiently heat escapes to space, often interacting with water vapor feed- back. 25. difference be- Detection: Identifies significant climate changes or trends tween detection without explaining causes. and attribution of climate trends, Attribution: Determines the causes of changes, distin- how we go about guishing human influences from natural factors using attribution models, data, and statistical methods. 26. what range of SRES Scenarios (2000s): emissions, con- Emissions: ~20-120 Gt CO‚/year by 2100. centrations, and Concentrations: 490 ppm (B1) to 970 ppm (A1FI). temperatures the Temperatures: ~1.1°C (B1) to 6.4°C (A1FI) above pre-in- 4 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq SRES and newer dustrial by 2100. scenarios span Newer Scenarios (RCPs & SSPs): Emissions: ~10-130 Gt CO‚/year by 2100. Concentrations: 420 ppm (RCP2.6) to 1370 ppm (RCP8.5). Temperatures: ~1.6°C (RCP2.6) to 4.3°C (RCP8.5). Overall Range: Emissions: ~10-130 Gt CO‚/year. Concentrations: 420-1370 ppm. Temperatures: ~1.1°C-6.4°C above pre-industrial. 27. projected sea Low Emissions (RCP2.6): ~0.3-0.6 m (12-24 inches). level rise at the end of the centu- Intermediate (RCP4.5): ~0.4-0.8 m (16-32 inches). ry High Emissions (RCP8.5): ~0.6-1.1 m (24-43 inches), with risk >2 m if ice melt accelerates. 28. projected tem- Global Temperature Projections (relative to pre-industrial peratures at the levels): end of the centu- ry Low Emission Scenarios: ~1.5°C-2°C. Intermediate Scenarios: ~2.4°C-3.2°C. Assumes moderate mitigation efforts. High Emission Scenarios: ~4°C-5°C. Represents continued reliance on fossil fuels and high emissions. 29. major emitting 1) China countries and -10.6Gt their magnitudes -30% 2)USA 5.2 Gt 14% 5 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq 3)EU 3.5Gt 10% 4)India 2.5Gt 7% 5)Germany 0.8Gt 2% 30. GHG emission % 73% for energy by sector 18.4% for agriculture 5.2% for industry 3.2% for waste 31. kaya identity GHG emissions = population(income/pop) x (energy/in- come) x (emissions/energy) emissions = population (percapita income)(energy inten- sity)(carbon intensity) 32. trends of kaya co2, GDP, Population all increasing identity elements carbon intensity, energy intensity decreasing 33. SRES Scenarios A1: Rapid economic growth; divided into:A1FI: Fossil fuel-intensive.A1T: Non-fossil energy.A1B: Balanced ener- gy sources. A2: Regionally oriented growth with slow economic and technological development. B1: Sustainable development with global solutions and low emissions. 6 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq B2: Localized solutions with moderate growth and environ- mental focus. 34. MAC marginal abatement cost 35. effect of high- Higher Targets (e.g., 550 ppm): er/lower concen- Lower Costs: Less aggressive reductions needed, allow- tration targets on ing gradual transition. abatement cost Trade-offs: Greater climate impacts (e.g., warming, sea level rise). Lower Targets (e.g., 450 ppm): Higher Costs: Requires rapid emissions cuts, advanced technologies, and significant investment. Benefits: Reduced long-term climate risks and damages. 36. overshoot vs Overshoot Scenario: a not-to-exceed Concentrations/temperatures temporarily exceed the tar- scenario get (e.g., 1.5°C or 450 ppm) before being reduced with mitigation and negative emissions. Relies on future technologies like carbon capture. Not-to-Exceed Scenario: Concentrations/temperatures are kept strictly below the target at all times. Requires immediate, stringent emission reductions. Key Difference: Overshoot: Temporary exceedance with later correction. Not-to-Exceed: No exceedance allowed. 37. Delaying action on emissions increases the overall cost of achieving climate targets. 7 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq What the defect of delay is on Key Effects: abatement costs Higher cumulative emissions require steeper reductions later. Rapid transitions increase costs for industries and infra- structure. Greater reliance on costly negative emissions technolo- gies. Amplified climate impacts raise adaptation and mitigation expenses. Key Idea: Early action reduces total costs; delays make targets more expensive and harder to achieve. 4o 38. Orders of Magni- Low-Cost Options:Energy efficiency, some renewables: tude of Marginal Abatement Costs Moderate-Cost Options:Electrification, CCS: High-Cost Options:Advanced negative emissions (e.g., DAC): 39. what makes consumer peference is ignored differences in abatement principal agent problems information problems transaction costs 40. Understand Where Flexibility: where, what, Allows emissions reductions to occur in different locations when, flexibility globally, leveraging cost-effective opportunities (e.g., car- bon markets, offsets). What Flexibility: 8 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq Enables reductions through various methods or sectors (e.g., energy, transportation, land use) rather than focus- ing on a single approach. When Flexibility: Permits phased timing of reductions, balancing near-term and long-term actions while aiming for cumulative targets. Key Idea: Flexibility lowers costs and increases feasibility of achieving climate goals. 41. what kinds of Climate Impacts, impacts are ac- counted for in Economic Impacts, IAM Energy System Impacts, Land Use Impacts, Social Impacts, Policy Impacts 42. what impacts non-market impacts have been stud- ied but are not tipping points part of IAMs extreme events equity psychological and social costs indirect feedbacks 43. different compo- Use Value: nents of econom- Direct benefits from using a resource (e.g., food, water, ic value energy). 9 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq Non-Use Value: Value derived without direct use, including: - Existence Value: Knowing a resource exists (e.g., biodi- versity). - Bequest Value: Preserving for future generations. - Option Value: Potential future use of a resource. Indirect Value: Benefits from ecosystem services (e.g., climate regula- tion, water purification). Market Value: Goods and services traded in markets. Non-Market Value: Benefits not captured in markets (e.g., cultural, recreation- al). 44. different Contingent Valuation (CV): non-market Uses surveys to ask people their willingness to pay (WTP) valuation or accept (WTA) for environmental goods or services. methods Hedonic Pricing: Estimates value based on market prices of related goods, like how property values reflect environmental quality (e.g., clean air, scenic views). Travel Cost Method: Calculates value based on how much people spend to visit a site (e.g., parks, beaches), including travel, time, and expenses. Replacement Cost Method: Values ecosystem services by the cost of replacing them with human-made alternatives (e.g., building levees to replace flood protection from wetlands). Benefit Transfer: Adapts existing valuation studies from one context to es- 10 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq timate values in another, reducing costs. Choice Modeling: Uses surveys to evaluate preferences among alternative scenarios or trade-offs (e.g., conserving wetlands vs. de- veloping land). 45. Order of magni- Global GDP Loss (Current Warming ~1.1°C): tudes of current Estimated losses: ~1-2% of global GDP. economic dam- age estimates Projected Damages (2°C Warming): (but also remem- Losses: ~2-5% of global GDP. ber these esti- mates are VERY Projected Damages (3°C Warming): uncertain) Losses: ~5-10% of global GDP. Extreme Warming (4°C+): Losses: 10%+ of global GDP, with risks of catastrophic and non-linear impact 46. adaptation deci- very local and often smaller methods sions largely benefit sole/few individuals (community) risk assessments, cost-benefit analysis, equity, flexibility long term planning 47. Net damage func- How It Embeds Adaptation Decisions: tion equation and Adaptation Reduces Damages: how that embeds R(A) reflects how much adaptation lowers gross damages adaptation deci- D0(T) sions Trade-offs: Balances adaptation costs with reduced net damages. Dynamic Decisions: Adaptation evolves with changing risks and technology. 11 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq Flexibility: Enables tailored responses as impacts and knowledge change. Key Idea: Adaptation modifies damages, allowing for cost-effective and dynamic climate responses. 48. Example of adap- Building sea walls to protect against rising sea levels. tation Effect: Reduces flood risk and economic damages in coastal areas. 49. Example of dy- A growing coastal city increases flood exposure due to namic vulnerabil- urban expansion. ity Impact: Higher vulnerability unless adaptation (e.g., im- proved drainage systems) evolves with urban growth. 50. Understand what Cost-Benefit Analysis (CBA): a change in Higher Discount Rate:Future benefits/damages are val- the discount rate ued less.Favors short-term projects, making long-term cli- means in terms mate investments less appealing. of a CBA or SCC Lower Discount Rate:Future benefits/damages are valued more.Justifies higher upfront costs for long-term benefits. Social Cost of Carbon (SCC): Higher Discount Rate:Lowers the SCC by devaluing fu- ture climate damages.Reduces justification for stringent climate policies. Lower Discount Rate:Increases the SCC by giving more weight to future damages.Encourages stronger climate action. 51. Equity CBA Equity CBA incorporates distributional impacts by weight- ing costs and benefits based on income or social factors. 12 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq 52. weitzman de- clining discount schedule 53. how to use de- clining discount schedule 54. certain equiva- a prospect or dollar value the decision maker finds indif- lent ferent to a given deal When you are willing to pay a little bit more to avoid risk. This only occurs in risk aversion. 55. risk averison The tendency to prefer a sure gain of a moderate amount over a riskier outcome, even if the riskier outcome might have a higher expected payoff. 56. risk premium the excess return required from an investment in a risky asset over that required from a risk-free investment 57. why the corre- the Capital Asset Pricing Model (CAPM) relates an as- lation of dam- set's risk to its returns. Similarly, in climate models, the ages with con- correlation between climate damages and consumption sumption is rele- determines how climate risks affect economic outcomes. vant to CAPM like model we looked High Correlation: Damages worsen in low consumption at periods (e.g., recessions), increasing risk and justifying lower discount rates. Low Correlation: Damages occur in high consumption pe- riods, reducing urgency and leading to higher discount rates. Key Idea: High correlation means climate risks amplify economic downturns, emphasizing the importance of ear- ly mitigation. 13 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq 58. difference be- Efficiency: Focuses on maximizing overall welfare. tween efficiency Cost-Effectiveness: Focuses on achieving goals at the and cost-effec- lowest cost. tiveness 59. Explain how a Definition: A system that sets a cap on total greenhouse cap and trade gas emissions and allows emitters to trade permits to emit. works Key Mechanism: Cap: A limit on total emissions is set, and permits (al- lowances) are issued. Trade: Companies can buy/sell permits, incentivizing cost-effective reductions. Reduction: The cap lowers over time, reducing overall emissions. permits are given by the government and are auctioned and given out for free despite initial allocation, always end up with cost effective reductions initial distribution determines winners and losers regulator doesn't know actual cost 60. Explain how a Definition: A carbon tax sets a price on greenhouse carbon tax works gas emissions, charging emitters a fee per ton of CO2CO_2CO2 emitted. Key Mechanism: Incentive: Encourages businesses and individuals to re- duce emissions by making fossil fuel use more expensive. Revenue Use: Funds can be reinvested in clean energy, distributed as rebates, or used for other public purposes. 14 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq Key Idea: A carbon tax internalizes the cost of emissions, driving behavioral and technological shifts toward low-car- bon alternatives. 61. NPV net present value amount of money today that would leave you indifferent to future payment 62. discount factor Present value of a $1 future payment (DF) 1/(1+r)^t (multiply w/ future payments to get NPV) 63. discount rate rate at which the DF falls per year (DR) x= future payment x 1/1+r x 1/1+r x=NPV 64. Social cost of economic cost of damages resulting from each ton of carbon carbon dioxide we emit 65. ramsey discount The Ramsey discount factor balances intergenerational factor equity (Áand ·)with economic growth (g), determining how future climate damages are valued today. 66. command and Command-and-Control Regulation: control vs market Definition: Direct government rules requiring specific ac- based regulation tions or technologies to limit emissions. Examples: Emission standards, technology mandates (e.g., catalytic converters). 15 / 16  envecon 176 final Study online at https://quizlet.com/_g9wcfq Pros: Clear and enforceable; ensures compliance. Cons: Less flexible; higher costs if technology is inefficient. 2. Market-Based Regulation: Definition: Incentives that use market mechanisms to re- duce emissions cost-effectively. Examples: Carbon taxes, cap-and-trade systems. Pros: Flexible; encourages innovation; cost-efficient. Cons: Requires robust monitoring and enforcement; price uncertainty in cap-and-trade. Key Idea:Command-and-control mandates specific ac- tions, while market-based approaches use economic in- centives to drive reductions. 67. climate change impact projec- tions(SRES?) just graphs from slides 68. RFF socioeco- nomic projec- tions (graphs from slides) 16 / 16