volume 24, issue 2, P259-279 2008
DOI: 10.1093/oxrep/grn020
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C. Hepburn, N. Stern

Abstract: A global target of stabilizing greenhouse-gas concentrations at between 450 and 550 parts per million carbon-dioxide equivalent (ppm CO 2 e) has proven robust to recent developments in the science and economics of climate change. Retrospective analysis of the Stern Review (2007) suggests that the risks were underestimated, indicating a stabilization target closer to 450 ppm CO 2 e. Climate policy at the international level is now moving rapidly towards agreeing an emissions pathway, and distributing responsibi…

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