By William C. Whitesell
This e-book presents an intensive grounding within the technological know-how and economics of weather coverage concerns and attracts key classes from the longer reports of primary banks in grappling with similar demanding situations. Findings and controversies of weather historical past and the consequences of human actions on weather are reviewed. the writer describes similarities in probability administration techniques for weather and financial coverage. total targets and frameworks for addressing weather switch hazards are assessed. Command-and-control and market-based strategies are in comparison (including functionality criteria, taxes, and cap-and-trade). Market-based methods occasionally require a decision among costs and amounts as coverage tools. notwithstanding, the writer discusses how suggestions of crucial financial institution rate of interest administration could be tailored in a hybrid weather coverage method of in achieving environmental targets whereas making carbon costs predictable and in addition making sure well-functioning carbon markets. Key classes are provided for bettering latest and destiny nationwide and overseas weather coverage architectures.
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Additional resources for Climate Policy Foundations: Science and Economics with Lessons from Monetary Regulation
An Ice Age refers to a shorter interval when ice sheets covered much of North America and northern Eurasia. 75 million years, we have been in an Ice Age. 75 Mya and 1 Mya, northern ice sheets tended to expand gradually for twenty to twenty-five millennia, then retreat for nearly as long a period. Since about 1 Mya, however, the swings in the climate have been larger and less symmetrical. Northern glaciation has been more prolonged, persisting for around 100 millennia or so. By contrast, the intervals between these Ice Ages, called “interglacials,” have been less frequent and more abrupt, lasting only about 10 millennia.
As sea ice melts and as land ice begins to give way to expanding tundra, more sunlight is absorbed. The planet’s albedo falls, and the initial regional warming in the north begins to spread around the world. The rise in temperature is amplified with little delay by an increase in water vapor. The warmth spreads from the atmosphere to the upper ocean within a few years. With the rising temperature, the ocean surface releases some of its CO2 into the air. In addition, CO2 and methane are vented from the soils and permafrost as they warm, raising GHG levels further.
However, other forces may be needed to bring the climate close to a turning point so that those changes in solar radiation (with amplifying feedbacks), or other causative factors, can push the climate into an Ice Age or interglacial period. The forces that bring the climate close to a tipping point may themselves vary from one Ice Age cycle to another. t wo Human and Climate Interactions The last interglacial prior to our current period occurred around 120,000 years ago. At that time, natural forces brought about a much higher sea level than today.