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CLIMATE CHANGE (LIVING STANDARDS (flooding damage (productivity lost),…
CLIMATE CHANGE
LIVING STANDARDS
Cost of damage due to wild weather
Poor most vulnerable.
Government repair cost
flooding damage
productivity lost
Adjustment to new climate costs
Industry forced to change
Cost of investment of renewables
Benefit of lower heating bills
Future generations
CAUSES
Natural causes
Negtaive externalities
Missing market for air
Market imperfections
Market failure
Easily avaiable fossil fuels
Renewable energy is expensive
POLICIES
Price floor
Higher energy cost
uncomeptitive industry
Legislation
Needs policing
carbon tax
Pigouvian
Uncompetitive industry
Pollution permits
EU cap and trade
cheaper route to cuts
Subsidies for renewables
Higher PSNB
Long term reduced imports
COP international treaty
MACRO
damaged capital
GDP may fall
Employment shifts
Less jobs in fossil fuels
Short run costs may rise
Inflation
Environmental tax take
strict green policies
Exports fall
current account deficit
International tension over different policies