In terms of the Paris agreement (2015), for the first time, a global legally binding operational environmental target was achieved. Accordingly, global warming must be limited to 2°C, and, if possible, even to 1.5°C. I will review the rationale of these ‘temperature targets’ and discuss their feasibility from a natural science as well as economic point of view. While temperature targets have become the key goal category of climate politics on UNFCCC level, within climate economics they are seen with reservation. If ‘rational’, forward-looking behavior is combined with an ongoing interplay of uncertainty and anticipated future learning, temperature targets – at least when interpreted ‘naïvely’ – have been shown to be dynamically inconsistent. I will present how the apparent defect in the target concept can be cured and will discuss potential consequences for climate policy advice.
Please note:
This is a VIDEO COLLOQUIUM!
Connection details at https://desy.zoom.us/j/99616528733
Meeting ID: 996 1652 8733
Meeting Password: 733220