In all three of its Working Group reports, the recent IPCC Fifth Assessment framed the challenge of climate change as one of risk management. Working Group 1 addressed the relationship between human activities and their biophysical climate-change consequences, with probabilistic specifications of associated risks. Working Group 2 focused on the risks of climate-change impacts on human health, agricultural production, urban and transport systems, ecosystems and ecosystem services, and more. Working group 3 dealt with mitigation options through transformation of energy, transport, urban and agricultural production systems, also with associated costs and risks.
Part of the challenge of framing climate change in risk management terms is to characterise sufficiently broad-based costs and benefits of alternative pathways, recognising that many costs and benefits involve aspects of wellbeing beyond those addressed by most economic framings.
This Colloquium examined the broad-based costs and benefits of climate impacts, adaptation and mitigation. Topics include the strengths and weaknesses of current estimates of costs, at global and regional scales; how sufficiently holistic "costs" and "benefits" can be defined and measured; and the implications and limitations of a cost-benefit perspective on the challenge of managing climate risk.
This event took place on Monday, 21 July 2014.
Associate Professor Frank Jotzo, Director of the Centre for Climate Economics and Policy, Australian National University
Dr Mark Stafford Smith, Science Director, Climate Adaptation Flagship, CSIRO and Chair of the Future Earth Science Committee
Mr Howard Bamsey, Adjunct Professor at the Regulatory Institutions Network (RegNet), Australian National University
Chair: Professor Michael Raupach, Director of the Climate Change Institute