Unfortunately this seminar has been cancelled.
Abstract
We detail the potential economic damages from global warming in a unique and large-dimensional computational trade and climate model for 140 countries and up to 60 different commodity sectors. Economic losses, even with limited damage functions, are considerable, with results showing the marked heterogeneity of these damages across countries. Focusing on average global damages from climate change thus misses the full picture and the extent of the distribution of these damages worldwide. Next, we indicate the required emissions reduction pathways needed to meet a Paris target and the necessary transition from fossil fuels to renewables for both 2030 and 2050 targets. Results show that the move to renewables must be both rapid and considerable to meet these required targets. Finally, we compare the cost of emissions reduction to the avoided damages from global warming to form benefit-cost measures for reducing emissions in each country.
Although an economist, Tom will not go into economic detail; instead, aiming to suit people from a diverse range of disciplines.
When: Tuesday 2nd August, 4:00 pm
Where: In person, Harvard Lecture Theatre 1, UTAS, Sandy Bay.
Online via zoom, email CMS.admin@utas.edu.au for details.
About the Speaker
Tom Kompas is a Professor of Environmental Economics and Biosecurity in the School of Biosciences and the School of Ecosystem and Forest Sciences at the University of Melbourne. He is also the Foundation Director of the Australian Centre for Biosecurity and Environmental Economics (ACBEE) at the Australian National University (ANU), one of three Chief Investigator’s in the Centre of Excellence for Biosecurity Risk Analysis (CEBRA) and Group Director of the Centre for Environmental and Economic Research (CEER) at the University of Melbourne. He has dedicated much of his recent time and work to public policy in Australia.
Tom’s research specialises in large-dimensional economic modelling for trade and climate change, cost-benefit analysis and natural resource and environmental economics.
