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Finnish study on climate change shows procrastination over mitigation measures could prove costly http://apocadocs.com/s.pl?1378603511
According to Ekholm's calculations, curbing climate change to two degrees would require worldwide emissions trading and a price of approximately EUR 20 per one tonne of CO2 in 2020. Current emissions trading systems are regional, and the price in the EU system, for example, has at times been as low as EUR 2-3 per tonne.
"By the end of the century, we should be looking at prices well in excess of EUR 100", Ekholm says.
Ekholm portrays the setting as a question of risk management: Mitigation measures are likely to end up costing less if they are instigated straight away. If the sensitivity of climate change turns out to be lower than the consensus forecast, the intensity of measures can be pulled back. If, however, the sensitivity proves to be higher than anticipated, the cost of the then inevitable cuts to emissions may rise to intolerable levels in the short term.
"In the worst case scenario, the price of one tonne of CO2 could rise to levels as high as EUR 1,000. The probability of this scenario is in the region of a few per cent. The risk is not huge but not marginal either."
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'Doc Jim says:
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I take a "wait and see" attitude about the perils of procrastination.
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