The Worth of an Ice Sheet
The Stern Review of the Economics of Climate Change received a lot of attention. But Stern dismissed stringent stabilization targets, or any sort of peak and decline trajectory that would have a high probability of keeping temperature increase below 2C.
In this analysis, EcoEquity’s Paul Baer takes a close look at Sterns treatment of potential catastrophic risks (like the l of the Greenland ice sheet) and demonstrates that Sterns treatment of these risks is clearly inadequate. And he draws the obvious conclusion: Those who claim that Stern has shown that emissions pathways consistent with the 2C target are not economically justified are simply wrong.