Economics of climate change mitigation

The economics of climate change mitigation is a contentious part of climate change mitigation – action aimed to limit the dangerous socio-economic and environmental consequences of climate change.^[3]

Climate change mitigation centres on two main strategies: the reduction of greenhouse gas (GHG) emissions and the preservation and expansion of sinks which absorb greenhouse gases, including the sea and forests.

The economics of climate change mitigation are a central point of contention whose considerations significantly affect the level of climate action at every level from local to global.

For example, higher interest rates are slowing solar panel installation in developing countries.^[4]

^ Annual data: "Billion-Dollar Weather and Climate Disasters / United States Billion-Dollar Disaster Events 1980- (CPI-Adjusted)". National Centers for Environmental Information (NCEI), part of the National Oceanic and Atmospheric Administration (NOAA). Archived from the original on 13 January 2024. Click "Access data".
^ Smith, Adam B.; NOAA National Centers For Environmental Information (December 2020). "Billion-Dollar Weather and Climate Disasters: Overview / 2020 in Progress". NCDC.NOAA. National Centers for Environmental Information (NCDC, part of NOAA). doi:10.25921/stkw-7w73. Archived from the original on 10 December 2020. Retrieved 11 December 2020. and "Contiguous U.S. ranked fifth warmest during 2020; Alaska experienced its coldest year since 2012 / 2020 Billion Dollar Disasters and Other Notable Extremes". NCEI.NOAA.gov. NOAA. January 2021. Archived from the original on 8 January 2021. For 2021 data: "Calculating the Cost of Weather and Climate Disasters / Seven things to know about NCEI's U.S. billion-dollar disasters data". ncei.noaa.gov. 6 October 2017. Archived from the original on 11 January 2022.
^ Fisher, B.S.; et al. (2007). "Issues related to mitigation in the long term context.". In B. Metz; et al. (eds.). Climate Change 2007: Mitigation. Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change. Cambridge University Press. Archived from the original on 16 November 2018. Retrieved 20 May 2009.
^ "The global backlash against climate policies has begun". The Economist. ISSN 0013-0613. Retrieved 11 November 2023.

[BillionDollarDisastersNOAA_2023-1] Annual data: "Billion-Dollar Weather and Climate Disasters / United States Billion-Dollar Disaster Events 1980- (CPI-Adjusted)". National Centers for Environmental Information (NCEI), part of the National Oceanic and Atmospheric Administration (NOAA). Archived from the original on 13 January 2024. Click "Access data".

[NCEI_thru202009-2] Smith, Adam B.; NOAA National Centers For Environmental Information (December 2020). "Billion-Dollar Weather and Climate Disasters: Overview / 2020 in Progress". NCDC.NOAA. National Centers for Environmental Information (NCDC, part of NOAA). doi:10.25921/stkw-7w73. Archived from the original on 10 December 2020. Retrieved 11 December 2020. and "Contiguous U.S. ranked fifth warmest during 2020; Alaska experienced its coldest year since 2012 / 2020 Billion Dollar Disasters and Other Notable Extremes". NCEI.NOAA.gov. NOAA. January 2021. Archived from the original on 8 January 2021. For 2021 data: "Calculating the Cost of Weather and Climate Disasters / Seven things to know about NCEI's U.S. billion-dollar disasters data". ncei.noaa.gov. 6 October 2017. Archived from the original on 11 January 2022.

[fisher-3] Fisher, B.S.; et al. (2007). "Issues related to mitigation in the long term context.". In B. Metz; et al. (eds.). Climate Change 2007: Mitigation. Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change. Cambridge University Press. Archived from the original on 16 November 2018. Retrieved 20 May 2009.

[4] "The global backlash against climate policies has begun". The Economist. ISSN 0013-0613. Retrieved 11 November 2023.

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