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SUMMARY:Climate investments optimized under uncertainty - Held\, H (PIK)
DTSTART:20101209T161000Z
DTEND:20101209T170000Z
UID:TALK28320@talks.cam.ac.uk
CONTACT:Mustapha Amrani
DESCRIPTION:While the EU has been propagating the 2° target over the last
  decade\, now also the Copenhagen Accord (2009) recognizes that 'the incre
 ase in global temperature should be below 2 degrees Celsius' (compared to 
 pre-industrial levels). In recent years\, energy economics have derived we
 lfare-optimal investment streams into low-emission energy mixes and associ
 ated costs. According to our analyses\, auxiliary targets that are in line
  with the 2° target could be achieved at relatively low costs if energy i
 nvestments were triggered rather swiftly.\n\nWhile such analyses assume 'p
 erfect foresight' of a benevolent 'social planner'\, an accompanying suite
  of experiments explicitly acknowledges the rather uncertain nature of key
  responses to human decisions within the climate as well as the technology
  system. We outline first results into that direction and indicate an intr
 insic need for generalisation within target approaches under uncertainty. 
LOCATION:Seminar Room 1\, Newton Institute
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