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Economic global warming potentials
Author(s) -
Wallis Max K.,
Lucas Nigel J. D.
Publication year - 1994
Publication title -
international journal of energy research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.808
H-Index - 95
eISSN - 1099-114X
pISSN - 0363-907X
DOI - 10.1002/er.4440180106
Subject(s) - discounting , greenhouse gas , global warming , equivalence (formal languages) , economics , forcing (mathematics) , greenhouse effect , investment (military) , global warming potential , environmental science , climate change , climatology , econometrics , natural resource economics , atmospheric sciences , mathematics , physics , political science , ecology , finance , discrete mathematics , politics , law , biology , geology
A reformulation of global warming potentials is propounded, that combines the time‐horizon and discounting definitions, and covers both ordinary atmospheric forcing (via greenhouse gases) and its rate‐of‐change. Insofar as GWPs are used to guide investment and socioeconomic choices, there is merit in adopting cost‐benefit techniques. The parametric equivalence of the two definitions applies for the ordinary atmospheric forcing; but for its rat‐of‐change, only the discounting definition gives realistic results, as shown in application to methane, a short‐lived greenhouse gas.