Economic Impacts of Climate Change

Paper Summary:

In this article, the writer discusses that with the advent of globalization has come the realization that many of the issues traditionally viewed as national concerns have their international implications. The writer notes that climate change has been an enduring issue of concern since the discovery of the ozone layer depletion and its subsequent effects to ecosystems in the early 20th century. The writer discusses the economic impacts of climate change that affects individuals and industries and concludes that there is a realization that climate change has an impact directly and indirectly to the state of economics, policies and social development nationally and internationally.

From the Paper:

"One of the best illustrations of climate change related tradeoffs and marginal choices is the Kyoto Protocol. The agreement recognizes that industries have their environmental costs and gives incentives to countries that will be able to function below the CO2 and CH4 production allocations. Though the effort has been seen to be one of the most cohesive global efforts to reduce emissions, some have pointed out that measures only motivate countries to falsehoods on their CO2 and CH4 production. Bohan believes that though these measures control industries' impact to the climate, they do not aid in addressing existing climate problems. Considering the cumulative impact individual environmental issue to climate change, there is concern that marginal efforts to alleviate climate change do not impact climate conditions. Coupled with other economic issues, some analysts believe that existing measures are not able to deter the impact of climate-related issues regardless of the perspectives used to evaluate the issue."

Sample of Sources Used:

• Australian Government Productivity Commission (2003). Industries, Land Use and Water Quality in the Great Barrier Reef Catchment - Key Points. Retrieved on December 6, 2006 from http://www.pc.gov.au/study/gbr/finalreport/keypoints.html
• Australian Greenhouse Office (2004). Economic Issues Relevant to Costing Climate Change Impacts. Retrieved on February 3, 2008, from http://www.greenhouse.gov.au/impacts/publications/pubs/costing.pdf
• Bohan, Caren (2007). Bush: Kyoto approach on climate is "bad policy". Reuters, October 15. Retrieved on February 3, 2008, from http://www.reuters.com/article/politicsNews/idUSN1537871920071015
• Calvin, William H. (1998). Thinking Ahead About Climate Change. Retrieved on February 3, 2008, from http://www.williamcalvin.com/bookshelf/climate.htm
• Castro, Peter and Huber, Michael (2000). Marine Biology. 3rd ed. Boston: McGraw-Hill.

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