Climate Shock by Gernot Wagner
You would take the required precautions if there was a 10% possibility that you would be in a fatal car accident. You would reassess your assets if you knew that there was a 10% probability that your finances might suffer a significant loss. Therefore, why aren’t we addressing climate change more immediately if we are aware that the planet is warming and that there is a 10% possibility that this could eventually result in a calamity beyond our ability to imagine? Why not insure our planet the same way we do our lives against an uncertain future?
In Climate Shock, Gernot Wagner and Martin Weitzman draw on and build upon previously unattainable research to discuss in vibrant, understandable terms the likely effects of a hotter globe.
They demonstrate that the longer we put off taking action, the more likely it is that an extreme catastrophe will occur. A city may submerge. Geoengineering might be used by a rebellious nation to cool the planet’s climate by launching particles into the atmosphere. The authors examine how economic factors that make it difficult to implement rational climate policies also increase the likelihood of radical proposed solutions like geoengineering. By focusing on the unknown severe hazards that may yet overwhelm all others. Our current understanding of climate change is already concerning. The high threats that we are unaware of may be much more hazardous. Wagner and Weitzman educate readers on the necessity to view climate change as a risk management issue, similar to how we view insurance problems.
Climate Shock by Gernot Wagner
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They demonstrate that the longer we put off taking action, the more likely it is that an extreme catastrophe will occur. A city may submerge. Geoengineering might be used by a rebellious nation to cool the planet’s climate by launching particles into the atmosphere. The authors examine how economic factors that make it difficult to implement rational climate policies also increase the likelihood of radical proposed solutions like geoengineering. By focusing on the unknown severe hazards that may yet overwhelm all others. Our current understanding of climate change is already concerning. The high threats that we are unaware of may be much more hazardous. Wagner and Weitzman educate readers on the necessity to view climate change as a risk management issue, similar to how we view insurance problems.
The writers take a hard look at the consequences of human-caused climate change and think about the options it gives us as a species. They take into account which approaches might have the best possibility of succeeding as well as what has to change politically and otherwise in order for those approaches to be put into practice. Along with mitigation (cutting greenhouse gas emissions) and adaptation (coping with it), they also take into account geoengineering, while conceding that it’s nearly probably a very bad idea, and explaining why it might still occur. They debate like economists and present their arguments as such, but they write in plain language that is quite readable. Additionally, they consciously and purposefully steer clear of some of the conventional wisdom that frequently leads their field to consistently undervalue the environment…
