Climate Change: The Most Relevant Scientific and Economic Aspects

Abstract

During the last years, global warming has turned into one of the most important scientific, political and economic items. The IPCC (Intergovernmental Panel on Climate Change) affirms that the period between 1995 and 2006 has been one of the warmest since 1850. Climate change is already being observed through rising temperatures, melting glaciers, shifting rain patterns, increased storm intensity and rising sea levels. These factors are the evidence that the world is getting warmer. To slow and limit climate change requires, in the long run, a great international effort. The United Nations Frame on Climate Change has been ratified by 189 countries. But it is also important to implement preventive national measures. Since 1990, industrialized countries, although limited, have made some progress in cutting GHG (greenhouse gases) emissions. During this time the countries have urged the implementation of specific policies, like the use of emission permits, energy and environmental taxes, industrial voluntary measures, regulatory policies and an increasing researching programs related to mitigation. This paper aims to present, in a synthetic way, the scientific and economic actual state of the climate change problem and the alternatives to reduce global warming together with the economic costs. The risk of serious climate change impacts suggests that urgent action is needed to significantly reduce GHG emissions in the coming decades. Political economy and environmental economy must work together in order to fulfil this objective.