Climate forecasting has emerged as an adaptation option for agriculture to better cope with climate variability. We use a coupled climate-crop-economy modeling system to analyze the value of climate information (VOI) in Spain for the domestic agricultural sector and for international...

We highlight that uncertainty about climate damages and the fact that damages will be distributed heterogeneously across the global population can jointly be an argument for substantially stricter climate policy even if uncertainty and heterogeneity in isolation are not. The reason is that a...

Cost-Effectiveness Analysis (CEA) determines climate policies that reach a given climate target at minimum welfare losses. However, when applied to temperature targets under climate sensitivity uncertainty, decision-makers might be confronted with normatively unappealing negative expected values...

We present projections of winter storm-induced insured losses in the German residential building sector for the 21st century. With this aim, two structurally most independent downscaling methods and one hybrid downscaling method are applied to a 3-member ensemble of ECHAM5/MPI-OM1 A1B scenario...

There is an emerging planetary consensus: Climate protection is necessary. Preventing global mean temperature from rising more than 2°C above pre-industrial levels is a common goal of climate protection. In essence, it requires a stabilization of carbon dioxide emissions within the next two...

This article explores efficient climate policies in terms of investment streams into fossil and renewable energy technologies. The investment decisions maximise social welfare while observing a probabilistic guardrail for global mean temperature rise under uncertain technology and climate...

We investigate the importance of explicitly accounting for uncertainty in the determination of optimal global climate policy. We demonstrate that the marginal risk premium determines the importance of adapting the optimal policy to uncertainty. Common integrated assessment models (IAM) of...