Delaying Climate Policy Would Triple Short-Term Mitigation Costs

http://www.sciencedaily.com/releases/2013/09/130912111820.htm

Sep. 12, 2013 — Higher costs would in turn increase the threshold for decision-makers to start the transition to a low-carbon economy. Thus, to keep climate targets within reach it seems to be most relevant to not further postpone mitigation, the researchers conclude.

"The transitional economic repercussions that would result if the switch towards a climate-friendly economy is delayed, are comparable to the costs of the financial crisis the world just experienced," lead-author Gunnar Luderer says. The later climate policy implementation starts, the faster -- hence the more expensive -- emissions have to be reduced if states world-wide want to achieve the internationally agreed target of limiting global warming to 2 degrees above pre-industrial levels. A binding global agreement to implement the emissions reductions required to reach this target is currently still under negotiation, while global emissions have continued to rise.

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