Modern climate-economic models and climate policies

Abstract

The problem of climate change is one of the most discussed problems nowadays. The global warming has an unquestionable influence on the economic growth of the different countries, and, consequently, on the whole world economics. The climate economics thus is an actual topic to study. Moreover, it is important to predict how the climate will change over the next century and which resulting outcomes are possible. Climate is changing both because of the natural effects and because of the human activity. Emissions of the greenhouse gases, especially the dioxide of carbon (CO2), are considered as the main cause of climate change. The emissions, obviously, cannot be absolutely stopped right in the moment, because it will stop the economic growth as well. The main goal of this thesis is to analyze the ways and costs of emission reduction, concepts of the Integrated Assessment Models (IAMs) and damage functions, which are crucial for creating the future emission scenarios. In this thesis we will also explore the modern climate policies and targets of those.