About this Journal Submit a Manuscript Table of Contents
Economics Research International
Volume 2012 (2012), Article ID 316564, 20 pages
http://dx.doi.org/10.1155/2012/316564
Review Article

The Real Economics of Climate Engineering

The Environment and Natural Resources, Kiel Institute for the World Economy, Hindenburgufer 66, 24105 Kiel, Germany

Received 6 April 2012; Accepted 19 June 2012

Academic Editor: Xie Zhu

Copyright © 2012 Gernot Klepper and Wilfried Rickels. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. UNFCCC, “Outcome of the work of the ad hoc working group on long-term cooperative action under the Convention: draft decision -/CP. 16,” Tech. Rep., 2010, advance unedited version.
  2. IEA, World Energy Outlook, Frankreich, Paris, France, 2010.
  3. M. Meinshausen, N. Meinshausen, W. Hare et al., “Greenhouse-gas emission targets for limiting global warming to 2°C,” Nature, vol. 458, no. 7242, pp. 1158–1162, 2009. View at Publisher · View at Google Scholar · View at Scopus
  4. T. M. Lenton, H. Held, E. Kriegler et al., “Tipping elements in the Earth's climate system,” Proceedings of the National Academy of Sciences of the United States of America, vol. 105, no. 6, pp. 1786–1793, 2008. View at Publisher · View at Google Scholar · View at Scopus
  5. K. Zickfeld, M. G. Morgan, D. J. Frame, and D. W. Keith, “Expert judgments about transient climate response to alternative future trajectories of radiative forcing,” Proceedings of the National Academy of Sciences of the United States of America, vol. 107, no. 28, pp. 12451–12456, 2010. View at Publisher · View at Google Scholar · View at Scopus
  6. Royal Society, “Geoengineering the climate: science, governance and uncertainty,” Policy Doucment 10/09, Royal Society, 2009.
  7. T. C. Schelling, “The economic diplomacy of geoengineering,” Climatic Change, vol. 33, no. 3, pp. 303–307, 1996. View at Scopus
  8. S. Barrett, “The incredible economics of geoengineering,” Environmental and Resource Economics, vol. 39, no. 1, pp. 45–54, 2008. View at Publisher · View at Google Scholar · View at Scopus
  9. J. R. Fleming, Fixing the Sky, Columbia University Press, Chichester, UK, 2010.
  10. M. I. Budyko, Climatic Changes, American Geophysical Society, Washington, DC, USA, 1977.
  11. M. I. Budyko, The Earth's Climate, Past and Future, Academic Press, New York, NY, USA, 1982.
  12. E. Teller, L. Wood, and R. Hyde, “Global warming and ice ages: I. Prospects for physics based modulation of global change,” Rep. No. UCRL-JC-128715; Lawrence Livermore National Laboratory, 1997.
  13. E. Teller, T. Hyde, and L. Wood, “Active climate stabilization: practical physics-based approaches to prevention of climate change,” Tech. Rep. UCRL-JC-148012, National Academy of Engineering Symposium, Washington, DC, USA, 2002.
  14. D. G. Victor, “On the regulation of geoengineering,” Oxford Review of Economic Policy, vol. 24, no. 2, pp. 322–336, 2008. View at Publisher · View at Google Scholar · View at Scopus
  15. C. Kousky, O. Rostapshova, M. Toman, and R. Zeckhauser, “Responding to threats of climate change mega-catastrophes,” Policy Research Working Paper 5127, The World Bank, 2009.
  16. J. Feichter and T. Leisner, “Climate engineering: a critical review of approaches to modify the global energy balance,” European Physical Journal, vol. 176, no. 1, pp. 81–92, 2009. View at Publisher · View at Google Scholar · View at Scopus
  17. J. Heintzenberg, Sondierungsstudie: naturwissenschaftliche und technische aspekte des climate engineering, Under the authority of the Federal Ministry of Education and Research in Germany, 2011.
  18. IPCC, Climate Change 2007: Synthesis Report. Contribution of Working Groups I, II and III To the Fourth Assessment Report of the Intergovernmental Panel on Climate Change, Geneva, Schwitzerland, 2007.
  19. R. D. Cess and S. D. Goldenberg, “The effect of ocean heat capacity upon global warming due to increasing atmospheric carbon dioxide,” Journal of Geophysical Research, vol. 86, no. C1, pp. 498–502, 1981. View at Scopus
  20. R. Knutti and G. C. Hegerl, “The equilibrium sensitivity of the Earth's temperature to radiation changes,” Nature Geoscience, vol. 1, no. 11, pp. 735–743, 2008. View at Publisher · View at Google Scholar · View at Scopus
  21. J. Hansen, L. Nazarenko, R. Ruedy et al., “Climate Change: earth's energy imbalance: confirmation and implications,” Science, vol. 308, no. 5727, pp. 1431–1435, 2005. View at Publisher · View at Google Scholar · View at Scopus
  22. J. C. Stephens and D. W. Keith, “Assessing geochemical carbon management,” Climatic Change, vol. 90, no. 3, pp. 217–242, 2008. View at Publisher · View at Google Scholar · View at Scopus
  23. P. Heckendorn, D. Weisenstein, S. Fueglistaler et al., “The impact of geoengineering aerosols on stratospheric temperature and ozone,” Environmental Research Letters, vol. 4, no. 4, Article ID 045108, 2009. View at Publisher · View at Google Scholar · View at Scopus
  24. J. R. Pierce, D. K. Weisenstein, P. Heckendorn, T. Peter, and D. W. Keith, “Efficient formation of stratospheric aerosol for climate engineering by emission of condensible vapor from aircraft,” Geophysical Research Letters, vol. 37, no. 18, Article ID L18805, pp. 1–5, 2010. View at Publisher · View at Google Scholar · View at Scopus
  25. W. Rickels, G. Klepper, J. Dovern et al., “Large-scale intentional interventions into the climate system? Assessing the climate engineering debate,” Scoping Report Conducted on Behalf of the German Federal Ministry of Education and Research (BMBF), Kiel Earth Institute, 2011.
  26. S. W. -Chisholm and F. M. M. Morel, What Controls Phytoplankton Production in Nutrient-Rich Areas of the Open Sea, vol. 36 of Limnology and Oceanography, 1991.
  27. D. W. R. Wallace, C. S. Law, P. W. Boyd et al., Ocean Fertilization: A Scientific Summary for Policy Makers, Frankreich, Paris, Farnce, 2010.
  28. V. Smetacek and S. W. A. Naqvi, “The next generation of iron fertilization experiments in the Southern Ocean,” Philosophical Transactions of the Royal Society A, vol. 366, no. 1882, pp. 3947–3967, 2008. View at Publisher · View at Google Scholar · View at Scopus
  29. K. L. Ricke, M. G. Morgan, and M. R. Allen, “Regional climate response to solar-radiation management,” Nature Geoscience, vol. 3, no. 8, pp. 537–541, 2010. View at Publisher · View at Google Scholar · View at Scopus
  30. K. E. Trenberth and A. Dai, “Effects of Mount Pinatubo volcanic eruption on the hydrological cycle as an analog of geoengineering,” Geophysical Research Letters, vol. 34, no. 15, Article ID L15702, 2007. View at Publisher · View at Google Scholar · View at Scopus
  31. A. Robock, L. Oman, and G. L. Stenchikov, “Regional climate responses to geoengineering with tropical and Arctic SO2 injections,” Journal of Geophysical Research D, vol. 113, no. 16, Article ID D16101, pp. 1–15, 2008. View at Publisher · View at Google Scholar · View at Scopus
  32. P. J. Rasch, J. Latham, and C. C. Chen, “Geoengineering by cloud seeding: influence on sea ice and climate system,” Environmental Research Letters, vol. 4, no. 4, Article ID 045112, 2009. View at Publisher · View at Google Scholar · View at Scopus
  33. A. Jones, J. Haywood, and O. Boucher, “Climate impacts of geoengineering marine stratocumulus clouds,” Journal of Geophysical Research D, vol. 114, no. 10, Article ID D10106, 2009. View at Publisher · View at Google Scholar · View at Scopus
  34. J. Pongratz, D. B. Lobell, L. Cao, and K. Caldeira, “Crop yields in a geoengineered climate,” Nature Climate Change, vol. 2, pp. 101–105, 2012. View at Publisher · View at Google Scholar
  35. L. M. Mercado, N. Bellouin, S. Sitch et al., “Impact of changes in diffuse radiation on the global land carbon sink,” Nature, vol. 458, no. 7241, pp. 1014–1017, 2009. View at Publisher · View at Google Scholar · View at Scopus
  36. K. Y. Chan, L. van Zwieten, I. Meszaros, A. Downie, and S. Joseph, “Using poultry litter biochars as soil amendments,” Australian Journal of Soil Research, vol. 46, no. 5, pp. 437–444, 2008. View at Publisher · View at Google Scholar · View at Scopus
  37. H. Asai, B. K. Samson, H. M. Stephan et al., “Biochar amendment techniques for upland rice production in Northern Laos. 1. Soil physical properties, leaf SPAD and grain yield,” Field Crops Research, vol. 111, no. 1-2, pp. 81–84, 2009. View at Publisher · View at Google Scholar · View at Scopus
  38. L. van Zwieten, S. Kimber, S. Morris et al., “Effects of biochar from slow pyrolysis of papermill waste on agronomic performance and soil fertility,” Plant and Soil, vol. 327, no. 1, pp. 235–246, 2010. View at Publisher · View at Google Scholar · View at Scopus
  39. B. A. McCarl, C. Peacocke, R. Chrisman, K. Chih-Chun, and R. D. Sands, “Economics of biochar production, utilization and greenhouse gas offsets,” in Biochar For Environmental Management: Science and Technology, J. Lehmann and S. Joseph, Eds., Earthscan, London, UK, 2009.
  40. Washington State University, Use of Biochar from the Pyrolysis of Waste Organic Material as a Soil Amendment, State of Washington, 2009.
  41. D. Woolf, J. E. Amonette, F. A. Street-Perrott, J. Lehmann, and S. Joseph, “Sustainable biochar to mitigate global climate change,” Nature Communications, vol. 1, article 56, 2010. View at Publisher · View at Google Scholar · View at Scopus
  42. K. G. Roberts, B. A. Gloy, S. Joseph, N. R. Scott, and J. Lehmann, “Life cycle assessment of biochar systems: estimating the energetic, economic, and climate change potential,” Environmental Science and Technology, vol. 44, no. 2, pp. 827–833, 2010. View at Publisher · View at Google Scholar · View at Scopus
  43. S. de Gryze, M. Cullen, and L. Durschinger, Evaluation of the Opportunities for Generating Carbon Offsets from Soil Sequestration of Biochar, San Francisco, Calif, USA, 2010.
  44. J. Major, J. Lehmann, M. Rondon, and C. Goodale, “Fate of soil-applied black carbon: downward migration, leaching and soil respiration,” Global Change Biology, vol. 16, no. 4, pp. 1366–1379, 2010. View at Publisher · View at Google Scholar · View at Scopus
  45. H. G. W. de Baar, et al., “Synthesis of iron fertilization experiments: from the iron age in the age of enlightment,” Journal of Geophysical Research, vol. 110, Article ID C09S16, 24 pages, 2005. View at Publisher · View at Google Scholar
  46. R. E. Zeebe and D. Archer, “Feasibility of ocean fertilization and its impact on future atmospheric CO2 levels,” Geophysical Research Letters, vol. 32, no. 9, pp. 1–5, 2005. View at Publisher · View at Google Scholar · View at Scopus
  47. O. Aumont and L. Bopp, “Globalizing results from ocean in situ iron fertilization studies,” Global Biogeochemical Cycles, vol. 20, no. 2, Article ID GB2017, 2006. View at Publisher · View at Google Scholar · View at Scopus
  48. P. W. Boyd, T. Jickells, C. S. Law et al., “Mesoscale iron enrichment experiments 1993–2005: synthesis and future directions,” Science, vol. 315, no. 5812, pp. 612–617, 2007. View at Publisher · View at Google Scholar · View at Scopus
  49. P. W. Boyd, “Introduction and synthesis,” Marine Ecology Progress Series, vol. 364, pp. 213–218, 2008. View at Publisher · View at Google Scholar · View at Scopus
  50. A. Oschlies, M. Pahlow, A. Yool, and R. J. Matear, “Climate engineering by artificial ocean upwelling: channelling the sorcerer's apprentice,” Geophysical Research Letters, vol. 37, no. 4, Article ID L04701, pp. 1–5, 2010. View at Publisher · View at Google Scholar · View at Scopus
  51. W. Rickels, K. Rehdanz, and A. Oschlies, “Methods for greenhouse gas offset accounting: a case study of ocean iron fertilization,” Ecological Economics, vol. 69, no. 12, pp. 2495–2509, 2010. View at Publisher · View at Google Scholar · View at Scopus
  52. J. Ellis, “Forestry projects: permanence, credit accounting and lifetime,” 2001.
  53. B. C. Murray, Forest in a Market Economy, Ch. Economics of Forest Carbon Sequestration, Kluwer Academic Publishers, Dordrecht, The Netherlands, 2003.
  54. G. C. van Kooten and B. Sohngen, “Economics of forest ecosystem carbon sinks: a review,” International Review of Environmental and Resource Economics, vol. 1, no. 3, pp. 237–269, 2007. View at Publisher · View at Google Scholar · View at Scopus
  55. R. D. Schuiling and P. Krijgsman, “Enhanced weathering: an effective and cheap tool to sequester CO2,” Climatic Change, vol. 74, no. 1–3, pp. 349–354, 2006. View at Publisher · View at Google Scholar · View at Scopus
  56. S. J. T. Hangx and C. J. Spiers, “Coastal spreading of olivine to control atmospheric CO2 concentrations: a critical analysis of viability,” International Journal of Greenhouse Gas Control, vol. 3, no. 6, pp. 757–767, 2009. View at Publisher · View at Google Scholar · View at Scopus
  57. P. Köhler, J. Hartmann, and D. A. Wolf-Gladrow, “Geoengineering potential of artificially enhanced silicate weathering of olivine,” Proceedings of the National Academy of Sciences of the United States of America, vol. 107, no. 47, pp. 20228–20233, 2010. View at Publisher · View at Google Scholar · View at Scopus
  58. H. S. Kheshgi, “Sequestering atmospheric carbon dioxide by increasing ocean alkalinity,” Energy, vol. 20, no. 9, pp. 915–922, 1995. View at Publisher · View at Google Scholar · View at Scopus
  59. L. D. D. Harvey, “Mitigating the atmospheric CO2 increase and ocean acidification by adding limestone powder to upwelling regions,” Journal of Geophysical Research C, vol. 113, no. 4, Article ID C04028, 2008. View at Publisher · View at Google Scholar · View at Scopus
  60. Cquestrate, “Detailed description of the idea,” 2008, http://www.cquestrate.com/the-idea/detailed-description-of-the-idea.
  61. R. A. Pielke Jr., “An idealized assessment of the economics of air capture of carbon dioxide in mitigation policy,” Environmental Science and Policy, vol. 12, no. 3, pp. 216–225, 2009. View at Publisher · View at Google Scholar · View at Scopus
  62. D. W. Keith, “Why capture CO2 from the atmosphere?” Science, vol. 325, no. 5948, pp. 1654–1655, 2009. View at Publisher · View at Google Scholar · View at Scopus
  63. K. S. Lackner, “Capture of carbon dioxide from ambient air,” European Physical Journal, vol. 176, no. 1, pp. 93–106, 2009. View at Publisher · View at Google Scholar · View at Scopus
  64. K. S. Lackner, “Washing carbon out of the air,” Scientific American, vol. 302, no. 6, pp. 66–71, 2010. View at Publisher · View at Google Scholar · View at Scopus
  65. J. Dai, A. Singh, K. Heidel, and D. Keith, “Process design and costing of an air-contactor for air-capture,” Energy Procedia, vol. 4, pp. 2861–2868, 2011.
  66. R. H. Socolow, M. Desmond, R. Aines et al., “Direct air capture of CO2 with chemicals,” 2011, http://www.aps.org/policy/reports/assessments/upload/dac2011.pdf.
  67. A. Ridgwell, J. S. Singarayer, A. M. Hetherington, and P. J. Valdes, “Tackling regional climate change by leaf albedo bio-geoengineering,” Current Biology, vol. 19, no. 2, pp. 146–150, 2009. View at Publisher · View at Google Scholar · View at Scopus
  68. J. Latham, P. Rasch, C. C. Chen et al., “Global temperature stabilization via controlled albedo enhancement of low-level maritime clouds,” Philosophical Transactions of the Royal Society A, vol. 366, no. 1882, pp. 3969–3987, 2008. View at Publisher · View at Google Scholar · View at Scopus
  69. S. Salter, G. Sortino, and J. Latham, “Sea-going hardware for the cloud albedo method of reversing global warming,” 2008, http://rsta.royalsocietypublishing.org/content/366/1882/3989.full.
  70. B. M. Sanderson, C. Piani, W. J. Ingram, D. A. Stone, and M. R. Allen, “Towards constraining climate sensitivity by linear analysis of feedback patterns in thousands of perturbed-physics GCM simulations,” Climate Dynamics, vol. 30, no. 2-3, pp. 175–190, 2008. View at Publisher · View at Google Scholar · View at Scopus
  71. D. L. Mitchell and W. Finnegan, “Modification of cirrus clouds to reduce global warming,” Environmental Research Letters, vol. 4, no. 4, Article ID 045102, 2009. View at Publisher · View at Google Scholar · View at Scopus
  72. D. Mitchell, “Cost estimates cirrus cloud modification: email,” 09. 02. 2011.
  73. P. J. Rasch, P. J. Crutzen, and D. B. Coleman, “Exploring the geoengineering of climate using stratospheric sulfate aerosols: the role of particle size,” Geophysical Research Letters, vol. 35, no. 2, Article ID L02809, pp. 1–6, 2008. View at Publisher · View at Google Scholar · View at Scopus
  74. P. J. Rasch, S. Tilmes, R. P. Turco et al., “An overview of geoengineering of climate using stratospheric sulphate aerosols,” Philosophical Transactions of the Royal Society A, vol. 366, no. 1882, pp. 4007–4037, 2008. View at Publisher · View at Google Scholar · View at Scopus
  75. A. Robock, “20 reasons why geoengineering may be a bad idea,” Bulletin of the Atomic Scientists, vol. 64, no. 2, pp. 14–18, 2008. View at Publisher · View at Google Scholar · View at Scopus
  76. S. Tilmes, R. Müller, and R. Salawitch, “The sensitivity of polar ozone depletion to proposed geoengineering schemes,” Science, vol. 320, no. 5880, pp. 1201–1204, 2008. View at Publisher · View at Google Scholar · View at Scopus
  77. A. Robock, A. Marquardt, B. Kravitz, and G. Stenchikov, “Benefits, risks, and costs of stratospheric geoengineering,” Geophysical Research Letters, vol. 36, no. 19, Article ID L19703, pp. 1–9, 2009. View at Publisher · View at Google Scholar · View at Scopus
  78. B. Kravitz, A. Robock, L. Oman, G. Stenchikov, and A. B. Marquardt, “Sulfuric acid deposition from stratospheric geoengineering with sulfate aerosols,” Journal of Geophysical Research D, vol. 114, no. 14, Article ID D14109, pp. 1–7, 2009. View at Publisher · View at Google Scholar · View at Scopus
  79. B. Kravitz, A. Robock, O. Boucher et al., “The Geoengineering Model Intercomparison Project (GeoMIP),” 2010, http://climate.envsci.rutgers.edu/pdf/GeoMIP20.pdf.
  80. D. M. Murphy, “Effect of stratospheric aerosols on direct sunlight and implications for concentrating solar power,” Environmental Science and Technology, vol. 43, no. 8, pp. 2784–2786, 2009. View at Publisher · View at Google Scholar · View at Scopus
  81. D. W. Keith, “Photophoretic levitation of engineered aerosols for geoengineering,” Proceedings of the National Academy of Sciences of the United States of America, vol. 107, no. 38, pp. 16428–16431, 2010. View at Publisher · View at Google Scholar · View at Scopus
  82. J. McClellan, J. Sisco, B. Suarez, and G. Keogh, Geoengineering Cost Analysis: Final Report, Prepared under Contract to the University of Calgary, Cambridge, Mass, USA, 2010.
  83. A. Jones, J. Haywood, O. Boucher, B. Kravitz, and A. Robock, “Geoengineering by stratospheric SO2 injection: results from the Met Office HadGEM2 climate model and comparison with the Goddard Institute for Space Studies ModelE,” Atmospheric Chemistry and Physics Discussions, vol. 10, no. 3, pp. 7421–7434, 2010. View at Scopus
  84. D. W. Keith, “Geoengineering the climate: history and prospect,” Annual Review of Energy and the Environment, vol. 25, pp. 245–284, 2000. View at Publisher · View at Google Scholar · View at Scopus
  85. S. Zhou and P. C. Flynn, “Geoengineering downwelling ocean currents: a cost assessment,” Climatic Change, vol. 71, no. 1-2, pp. 203–220, 2005. View at Publisher · View at Google Scholar · View at Scopus
  86. R. S. Lampitt, E. P. Achterberg, T. R. Anderson et al., “Ocean fertilization: a potential means of geoengineering?” Philosophical Transactions of the Royal Society A, vol. 366, no. 1882, pp. 3919–3945, 2008. View at Publisher · View at Google Scholar · View at Scopus
  87. S. Bathiany, M. Claussen, V. Brovkin, T. Raddatz, and V. Gayler, “Combined biogeophysical and biogeochemical effects of large-scale forest cover changes in the MPI earth system model,” Biogeosciences, vol. 7, no. 5, pp. 1383–1399, 2010. View at Publisher · View at Google Scholar · View at Scopus
  88. R. Seitz, “Bright water: hydrosols, water conservation and climate change,” Climatic Change, vol. 105, no. 3-4, pp. 365–381, 2011. View at Publisher · View at Google Scholar · View at Scopus
  89. J. B. Moreno-Cruz and S. Smulders, “Revisiting the economics of climate change: the role of geoengineering,” 2010, http://works.bepress.com/morenocruz/4.
  90. J. B. Moreno-Cruz, K. Ricke, and D. Keith, “A simple model to account for regional inequalities in the effectiveness of solar radiation management,” Climatic Change, vol. 110, pp. 649–668, 2012.
  91. J. B. Moreno-Cruz and D. Keith, “Climate policy under uncertainty: a case for solar geoengineering,” Climatic Change. In press.
  92. W. D. Nordhaus, A Question of Balance: Weighing the Options on Global Warming Policies, Yale University Press, New Haven, Conn, USA, 2008.
  93. L. M. Brander, K. Rehdanz, R. S. J. Tol, and P. J. H. van Beukering, “The economic impact of ocean acidification on coral reefs,” 2009, http://www.tara.tcd.ie/bitstream/2262/27779/1/WP282.pdf.
  94. K. Gramstad and S. Tjötta, “Climate engineering: Cost benefit andbeyond,” 2010, http://www.uib.no/filearchive/wp-05.10_2.pdf.
  95. M. Goes, N. Tuana, and K. Keller, “The economics (or lack thereof) of aerosol geoengineering,” Climatic Change, vol. 109, no. 3-4, pp. 719–744, 2011. View at Publisher · View at Google Scholar · View at Scopus
  96. H. D. Matthews and K. Caldeira, “Transient climate-carbon simulations of planetary geoengineering,” Proceedings of the National Academy of Sciences of the United States of America, vol. 104, no. 24, pp. 9949–9954, 2007. View at Publisher · View at Google Scholar · View at Scopus
  97. V. Brovkin, V. Petoukhov, M. Claussen, E. Bauer, D. Archer, and C. Jaeger, “Geoengineering climate by stratospheric sulfur injections: earth system vulnerability to technological failure,” Climatic Change, vol. 92, no. 3-4, pp. 243–259, 2009. View at Publisher · View at Google Scholar · View at Scopus
  98. A. Ross and H. Damon Matthews, “Climate engineering and the risk of rapid climate change,” Environmental Research Letters, vol. 4, no. 4, Article ID 045103, 2009. View at Publisher · View at Google Scholar · View at Scopus
  99. J. Bickel and S. Agrawal, “Reexamining the economics of aerosol geoengineering,” Tech. Rep., 2011.
  100. W. Rickels and T. S. Lontzek, “Optimal global carbon management with ocean sequestration,” Oxford Economic Papers, vol. 64, no. 2, pp. 323–349, 2012. View at Publisher · View at Google Scholar
  101. C. Marchetti, “On geoengineering and the CO2 problem,” Climatic Change, vol. 1, no. 1, pp. 59–68, 1977. View at Publisher · View at Google Scholar · View at Scopus
  102. W. Rickels, “The role of sequestration costs with a ceiling on atmospheric carbon concentration,” Working Paper 1702, Kiel Institute for the World Economy, 2011.
  103. UNFCCC, “Kyoto protocol of the United Nations framework convention on climate change: report of the conference of the parties on its third session,” Tech. Rep., Kyoto, Japan, 1997.
  104. M. Leinen, “Building relationships between scientists and business in ocean iron fertilization,” Marine Ecology Progress Series, vol. 364, pp. 251–256, 2008. View at Publisher · View at Google Scholar · View at Scopus
  105. P. Dasgupta, “Discounting climate change,” Journal of Risk and Uncertainty, vol. 37, no. 2-3, pp. 141–169, 2008. View at Publisher · View at Google Scholar · View at Scopus
  106. G. Heal, “Climate economics: a meta-review and some suggestions for future research,” Review of Environmental Economics and Policy, vol. 3, no. 1, pp. 4–21, 2009. View at Publisher · View at Google Scholar · View at Scopus
  107. S. Barrett, Geoengineering's Role in Climate Change Policy, John Hopkins University, School of Advanced International Studies, 2009.
  108. W. Rickels, K. Rehdanz, and A. Oschlies, “Economic prospects of ocean iron fertilization in an international carbon market,” Resource and Energy Economics, vol. 34, no. 1, pp. 129–150, 2012. View at Publisher · View at Google Scholar · View at Scopus
  109. S. Barrett, “Climate treaties and backstop technologies,” CESifo Working Paper 3003, 2010.
  110. J. B. Moreno-Cruz, “Mitigation and the geoengineering threat,” 2010, http://works.bepress.com/morenocruz/3.
  111. J. Horton, “Geoengineering and the myth of unilateralism: pressures and prospects for international cooperation,” in Stanford Journal of Law, Science Policy, vol. 4, pp. 56–69, 2011.
  112. T. Goeschl, D. Heyen, and J. B. Moreno-Cruz, “Long-term environmental problems and strategic intergenerational transfers,” 2010, http://works.bepress.com/cgi/viewcontent.cgi?article=1010&context=morenocruz.
  113. H. W. Sinn, “Public policies against global warming: a supply side approach,” International Tax and Public Finance, vol. 15, no. 4, pp. 360–394, 2008. View at Publisher · View at Google Scholar · View at Scopus
  114. O. Edenhofer and M. Kalkuhl, Diskurs Klimapolitik, vol. 6 of Jahrbuch Ökologische Ökonomie. Metropolis, Ch. Das grüne Paradoxon, 2009, Menetekel oder Prognose.
  115. J. R. Markusen, “International externalities and optimal tax structures,” Journal of International Economics, vol. 5, no. 1, pp. 15–29, 1975. View at Scopus
  116. J. Frankel, “Global environment and trade policy,” in Post-Kyoto International Climate Policy, J. E. Aldy and R. E. Stavins, Eds., Cambridge University Press, Cambridge, UK, 2009.
  117. T. Eichner and R. Pethig, “Carbon leakage, the green paradox and perfect future markets,” International Economic Review, vol. 52, pp. 767–805, 2011.
  118. T. Barker, I. Bashmakov, A. Alharthi et al., “Mitigation from a cross-sectoral perspective,” in Climate Change 2007: Mitigation. Contribution of Working Group III To the Fourth Assessment Report of the Intergovernmental Panel on Climate Change, B. Metz, O. Davidson, P. Bosch, R. Dave, and L. Meyer, Eds., Cambridge University Press, Cambridge, UK, 2007.
  119. P. Quirion, J. Rozenberg, O. Sassi, and A. Vogt-Schilb, “How CO2 Capture and storage can mitigate carbon leakage,” 2011, http://www.feem.it/userfiles/attach/20112101158254NDL2011-015.pdf.
  120. S. Solomon, G. K. Plattner, R. Knutti, and P. Friedlingstein, “Irreversible climate change due to carbon dioxide emissions,” Proceedings of the National Academy of Sciences of the United States of America, vol. 106, no. 6, pp. 1704–1709, 2009. View at Publisher · View at Google Scholar · View at Scopus