Regulating Geoengineering: International Competition and Cooperation
Geoeng Info
Regulating Geoengineering: International Competition and Cooperation
- Soheil Shayegh,
- Garth Heutel,
- Juan Moreno-Cruz
Abstract
We study international cooperation regarding climate policy when solar geoengineering is a policy option available to nations. Employing an analytical theoretical model, we show how the equilibrium levels of emissions abatement and geoengineering are affected by the level of cooperation between countries, with more cooperation leading to lower emissions and more geoengineering. To quantify these results, we modify a numerical integrated assessment model, DICE, to include solar geoengineering and cooperation among nations. The simulation results show that the effect of cooperation on policy depends crucially on whether damages from geoengineering are local or global. With local damages, more cooperation leads to more geoengineering, but the opposite is true for global damages.