Benefit–cost analysis is not enough

tropical deforestation

An article written by Jonathan Koomey revealing the limitation of benefit–cost approach in climate change issues. Is there any revised approach yet?

Koomey then highlight “alternative way of thinking” in relation to analysis of the cost effectiveness of achieving a normatively defined warming target

According to Koomey, this approach yields important insights, showing that delaying action is costly, required emissions reductions are rapid, and most proved reserves of fossil fuels will need to stay in the ground if we’re to stabilize the climate.

“I call this method ‘working forward toward a goal’, and it is one that will see wide application in the years ahead, ” says Koomey.

Read the article at Environmental Research Letters Volume 8 Number 4, “Moving beyond benefit–cost analysis of climate change”.

Access here for complete article:
http://iopscience.iop.org/1748-9326/8/4/041005