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Assessing Economic Impacts of Greenhouse Gas Mitigation: Summary of a Workshop
particularly for examining international impacts. For example, if countries delay or stagger mitigation measures, this has important ramifications for global crop production. EPPA is also modeling interactions among land-use change, terrestrial carbon emissions, and related factors, which is critical in analyzing interactions between mitigation and adaptation: EPPA and other IAMs reflect not only economic impacts, but also longer-term impacts on natural systems, which in turn help estimate potential damage, or impacts avoided (Figure 3). Dallas Burtraw pointed out that there is a need for a better understanding and incorporation of temperature changes in models’ baseline scenarios, to analyze the effects on changes in electricity demand. Beyond the interactions of physical or natural systems, Peter Evans remarked that there is a need for more information on and understanding of the relationships between governments and markets. Evans discussed what he called “green industrial policy” through which governments are beginning to intervene in the market, in the name of climate change, and this will have important ramifications going forward.
FIGURE 3. Interaction of mitigation and adaptation through land/biofuels. SOURCE: John Reilly, Massachusetts Institute of Technology, presentation given at the Workshop on Assessing Economic Impacts of Greenhouse Gas Mitigation, National Academies, Washington, D.C., October 2-3, 2008.