Climate changeIn common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to Earth's climate. The current rise in global average temperature is more rapid than previous changes, and is primarily caused by humans burning fossil fuels. Fossil fuel use, deforestation, and some agricultural and industrial practices increase greenhouse gases, notably carbon dioxide and methane.
Carbon taxA carbon tax is a tax levied on the carbon emissions required to produce goods and services. Carbon taxes are intended to make visible the "hidden" social costs of carbon emissions, which are otherwise felt only in indirect ways like more severe weather events. In this way, they are designed to reduce greenhouse gas emissions by increasing prices of the fossil fuels that emit them when burned. This both decreases demand for goods and services that produce high emissions and incentivizes making them less carbon-intensive.
Climate modelNumerical climate models use quantitative methods to simulate the interactions of the important drivers of climate, including atmosphere, oceans, land surface and ice. They are used for a variety of purposes from study of the dynamics of the climate system to projections of future climate. Climate models may also be qualitative (i.e. not numerical) models and also narratives, largely descriptive, of possible futures.
Carbon priceCarbon pricing (or pricing) is a method for nations to address climate change. The cost is applied to greenhouse gas emissions in order to encourage polluters to reduce the combustion of coal, oil and gas – the main driver of climate change. The method is widely agreed and considered to be efficient. Carbon pricing seeks to address the economic problem that emissions of and other greenhouse gases (GHG) are a negative externality – a detrimental product that is not charged for by any market.
Climate change denialClimate change denial or global warming denial is dismissal or unwarranted doubt that contradicts the scientific consensus on climate change. Those promoting denial commonly use rhetorical tactics to give the appearance of a scientific controversy where there is none. Climate change denial includes doubts to the extent of how much climate change is caused by humans, its effects on nature and human society, and the potential of adaptation to global warming by human actions.
General circulation modelA general circulation model (GCM) is a type of climate model. It employs a mathematical model of the general circulation of a planetary atmosphere or ocean. It uses the Navier–Stokes equations on a rotating sphere with thermodynamic terms for various energy sources (radiation, latent heat). These equations are the basis for computer programs used to simulate the Earth's atmosphere or oceans. Atmospheric and oceanic GCMs (AGCM and OGCM) are key components along with sea ice and land-surface components.
Politics of climate changeThe politics of climate change results from different perspectives on how to respond to climate change. Global warming is driven largely by the emissions of greenhouse gases due to human economic activity, especially the burning of fossil fuels, certain industries like cement and steel production, and land use for agriculture and forestry. Since the Industrial Revolution, fossil fuels have provided the main source of energy for economic and technological development.
Biodiversity lossBiodiversity loss includes the worldwide extinction of different species, as well as the local reduction or loss of species in a certain habitat, resulting in a loss of biological diversity. The latter phenomenon can be temporary or permanent, depending on whether the environmental degradation that leads to the loss is reversible through ecological restoration/ecological resilience or effectively permanent (e.g. through land loss).
ClimateClimate is the long-term weather pattern in a region, typically averaged over 30 years. More rigorously, it is the mean and variability of meteorological variables over a time spanning from months to millions of years. Some of the meteorological variables that are commonly measured are temperature, humidity, atmospheric pressure, wind, and precipitation. In a broader sense, climate is the state of the components of the climate system, including the atmosphere, hydrosphere, cryosphere, lithosphere and biosphere and the interactions between them.
Carbon fee and dividendA carbon fee and dividend or climate income is a system to reduce greenhouse gas emissions and address climate change. The system imposes a carbon tax on the sale of fossil fuels, and then distributes the revenue of this tax over the entire population (equally, on a per-person basis) as a monthly income or regular payment. Since the adoption of the system in Canada and Switzerland, it has gained increased interest worldwide as a cross-sector and socially just approach to reducing emissions and tackling climate change.
Integrated assessment modellingIntegrated assessment modelling (IAM) or integrated modelling (IM) is a term used for a type of scientific modelling that tries to link main features of society and economy with the biosphere and atmosphere into one modelling framework. The goal of integrated assessment modelling is to accommodate informed policy-making, usually in the context of climate change though also in other areas of human and social development.
BiodiversityBiodiversity or biological diversity is the variety and variability of life on Earth. Biodiversity is a measure of variation at the genetic (genetic variability), species (species diversity), and ecosystem (ecosystem diversity) level. Biodiversity is not distributed evenly on Earth; it is usually greater in the tropics as a result of the warm climate and high primary productivity in the region near the equator. Tropical forest ecosystems cover less than 10% of earth's surface and contain about 90% of the world's species.
DiscountingIn finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee. Essentially, the party that owes money in the present purchases the right to delay the payment until some future date. This transaction is based on the fact that most people prefer current interest to delayed interest because of mortality effects, impatience effects, and salience effects.
Climate change adaptationClimate change adaptation is the process of adjusting to the effects of climate change. These can be both current or expected impacts. Adaptation aims to moderate or avoid harm for people. It also aims to exploit opportunities. Humans may also intervene to help adjustment for natural systems. There are many adaptation strategies or options.They can help manage impacts and risks to people and nature. We can classify adaptation actions in four ways. These are infrastructural and technological; institutional; behavioural and cultural; and nature-based options.
Carbon emission tradingEmission trading (ETS) for carbon dioxide (CO2) and other greenhouse gases (GHG) is a form of carbon pricing; also known as cap and trade (CAT) or carbon pricing. It is an approach to limit climate change by creating a market with limited allowances for emissions. This can lower competitiveness of fossil fuels and accelerate investments into low carbon sources of energy such as wind power and photovoltaics. Fossil fuels are the main driver for climate change. They account for 89% of all CO2 emissions and 68% of all GHG emissions.
Biodiversity bankingBiodiversity banking, also known as biodiversity trading or conservation banking, biodiversity mitigation banks, compensatory habitat, set-asides, biodiversity offsets, are conservation activities that compensate for the loss of biodiversity with the goal of biodiversity maintenance through a framework which allows biodiversity to be reliably measured, and market based solutions applied to improving biodiversity. Biodiversity banking provides a means to place a monetary value on ecosystem services.
Effects of climate changeClimate change affects the physical environment, ecosystems and human societies. Changes in the climate system include an overall warming trend, more extreme weather and rising sea levels. These in turn impact nature and wildlife, as well as human settlements and societies. The effects of human-caused climate change are broad and far-reaching, especially if significant climate action is not taken. The projected and observed negative impacts of climate change are sometimes referred to as the climate crisis.
Media coverage of climate changeMedia coverage of climate change has had effects on public opinion on climate change, as it conveys the scientific consensus on climate change that the global temperature has increased in recent decades and that the trend is caused by human-induced emissions of greenhouse gases. Climate change communication research shows that coverage has grown and become more accurate. Some researchers and journalists believe that media coverage of politics of climate change is adequate and fair, while a few feel that it is biased.
Coupled Model Intercomparison ProjectIn climatology, the Coupled Model Intercomparison Project (CMIP) is a collaborative framework designed to improve knowledge of climate change. It was organized in 1995 by the Working Group on Coupled Modelling (WGCM) of the World Climate Research Programme (WCRP). It is developed in phases to foster the climate model improvements but also to support national and international assessments of climate change. A related project is the Atmospheric Model Intercomparison Project (AMIP) for global coupled ocean-atmosphere general circulation models (GCMs).
Discounted cash flowThe discounted cash flow (DCF) analysis, in finance, is a method used to value a security, project, company, or asset, that incorporates the time value of money. Discounted cash flow analysis is widely used in investment finance, real estate development, corporate financial management, and patent valuation. Used in industry as early as the 1700s or 1800s, it was widely discussed in financial economics in the 1960s, and U.S. courts began employing the concept in the 1980s and 1990s.
