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<html>
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<title>What are the Most Cost-Effective Ways to Fight Climate Change?</title>
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<a href="Interventions.html">Evidence on Interventions</a>
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<h1 class="title toc-ignore">What are the Most Cost-Effective Ways to Fight Climate Change?</h1>
</div>
<p>Climate change is one of the most pressing issues facing mankind. In order to fight climate change, we have to find the most cost-effective ways to curb the emission of GreenHouse Gases (GHGs). A lot of different actions can be taken to combat climate change. Among them are interventions on:</p>
<ul>
<li>Buildings (weatherization)</li>
<li>Transportation (taxes, norms)</li>
<li>Land use (<a href="ForestPES.html">forest</a> and <a href="GrasslandPES.html">grassland subsidies</a>)</li>
<li>Power generation (taxes and markets for polluting rights)</li>
</ul>
<p>Allocating the amount of public and private money to the most effective uses requires an estimate of the cost-effectiveness of the various options: how much do they cost per ton of C02 saved from the atmosphere? This monetary estimate is called the abatement cost of the option.</p>
Below is a graph comparing the estimated abatement costs of the various options with the <a href="SCC.html">social cost of carbon</a>:
<div class="figure" style="text-align: center">
<img src="CC_files/figure-html/CE.CC-1.png" alt="Abatement Cost of Various Options to Fight Climate Change (in Euros/tonC02)" width="672" />
<p class="caption">
Abatement Cost of Various Options to Fight Climate Change (in Euros/tonC02)
</p>
</div>
<p>It appears that the French Grassland Conservation Program is currently not a cost-effective way to fight climate change: its abatement cost is largely above the social cost of carbon.</p>
</div>
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