abatement costs

Climate Change Actions for Sustainable Development. International Journal of Innovation and Sustainable Development

This paper presents the dimensions of the climate change problem and its economic effects. Climate change is a global externality resulting to market failure as pollution sources, in most of the cases, do not take into consideration the full cost (including the associated social costs) imposed by their actions to others. The damage cost estimates and various other issues related to climate change and concerning the significance of uncertainty and risk aversion are discussed.