Abstract
Except for a few loonies, most agree that there is an imperative not to let the atmospheric load of CO2 grow indefinitely. “Doing nothing implies that risks are negligible. That position implies an absurd degree of certainty” [Wolf, Financial Times (27 Oct 2015)]. As some like to say, there is no planet B. The economics of climate change is far, far behind its science. Given the important role of uncertainty in climate change policy and the debilitating limitations of alternatives such as NPV or the “neoclassical” approach, i.e., the “integrated assessment models,” when it comes to uncertainty, the detour of ROA is unavoidable. The interface between ROA and climate change turns out to be rather explosive and reveals how deep the need for a response to climate change goes.
What does culture want? To make infinity comprehensible,
Umberto Eco (https://www.brainyquote.com/quotes/umberto_eco_457208)
I cannot help it. In spite of myself, infinity torments me,
Alfred de Musset (https://www.brainyquote.com/quotes/alfred_de_musset_169890)
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Morel, B. (2020). Global CO2 Emission Mitigation Through the Looking Glass of ROA. In: Real Option Analysis and Climate Change. Springer Climate. Springer, Cham. https://doi.org/10.1007/978-3-030-12061-0_5
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