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Figure 11.7: Year 2030 estimated carbon prices and gross-world-product (GDP) costs of various pathways to stabilization targets
Notes: Figure 11.7 shows, for 2030, the carbon price, CO2 abatement relative to the baseline, and global GDP differences from baseline for five different sets of stabilization studies: EMF21 radiative forcing at 4.5 W/m2 (multigas); IMCP at 550 and 450ppm (CO2-only with induced technological change); EMF19 at 550ppm (CO2-only with induced technological change) and 6 studies in category III included in Figure 3.24. The results as shown exclude incomplete sets (i.e. data have to be available for all three variables shown). The EMF21 results exclude studies unsuitable for near-term analysis (e.g. substantial effects for a past year). The IMCP results exclude those from two experimental/partial studies. The breakdown into Category III and IV scenarios treats CO2-only studies as if they also allow for cost-effective non-CO2 multigas GHG mitigation (see Table 3.14). Note that prices and outputs are based on various definitions, so the figures are indicative only. The price bases in the original studies vary and have been converted to 2000 US$.
Sources: Weyant, 2004; Masui et al., 2005; Edenhofer et al., 2006b, Weyant et al., 2006 and Chapter 3.