Economics, ethics and climate policy

摘要

Are the costs of greenhouse gas emissions abatement justified by the perceived benefits of sustained climate stability. Do people of the present generation have a moral right to impose climate risks on their descendants in generations to come. This report examines these questions in light of the emergent facts of climate science and their socioeconomic implications. We consider alternative normative criteria for social decision-making with particular emphasis on cost-benefit analysis and the principle of sustainable development. While each framework yields important insights, we argue that the gross uncertainties associated with climate change and the distribution of impacts between present and future generations constrain the usefulness of cost-benefit criteria in evaluating climate policy. If one accepts the ethical proposition that it is morally wrong to impose catastrophic risks on unborn generations when reducing those risks would not noticeably diminish the quality of life of existing persons, a case can be made for concerted policy action to reduce greenhouse gas emissions. (118 refs., 3 figs., 4 tabs.)