Authors : Rahul Arya, Rishabh Bhardwaj, Reetu Pundir, Rajdeep Saharawat and Girendra Kumar Gautam
DOI : 10.3808/jeil.202000044
Volume : 1
Issue : 1
Year : 2021
Page No : 20-26
The accumulation of so-called “greenhouse gases” in the atmosphere – particularly CO2 is adversely affecting the global climate. This paper briefly reviews current expectations regarding physical and biological impacts, their potential costs to society, and the potential costs of mitigation. For the “worst case” scenario, it is impossible, from an economic point of view, to assess the full range of possible non-linear synergistic effects. In the "most favorable" (though not necessarily "likely") case (of slow climate change), however, it seems that the impacts are within the "affordable" range, at least in the world's industrialized countries. In the "Third World" the notion of affordability is of questionable relevance, making the problem of quantitative assessment almost impossible.