Uncertainty and decision in climate change economics

Working paper by Geoffrey Heal, Antony Millner on 1 Mar 2013

Uncertainty is intrinsic to climate change: we know that the climate is changing, but not precisely how fast or in what ways. Nor do we understand fully the social and economic consequences of these changes, or the options that will be available for reducing climate change. Furthermore, the uncertainty about these issues is not readily […]

A UK ‘dash’ for smart gas

Policy publication by Sam Fankhauser, Bob Ward on 1 Mar 2013

Shifting from coal to natural gas for electricity generation can help the UK power sector to decarbonise in the near term. With good planning and investment, natural gas can support the development of a low-carbon power sector by providing essential backup for intermittent renewables, but could only play a bigger role longer-term if fitted with carbon capture and storage (CCS) technology.

However, a new UK ‘dash’ for gas on the assumption of low prices is a risky economic and environmental option. A lower risk option is a ‘dash’ for smart gas; using natural gas in those areas where it offers the greatest value in decarbonising the power sector. read more »