Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:07:17pm CEST (Norway)
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Egg-timer sessions: Macroeconomics Location: Auditorium J: Aina Uhde Session Chair: Rintaro Yamaguchi, National Institute for Environmental Studies | |
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Dasgupta meets Nordhaus: Optimal Climate and Conservation Policy under Ecosystem Capital Dynamics Leipzig University, Germany Interactions of human economic development with the climate system and ecosystems in the biosphere caused the twin crisis of climate change and biodiversity loss. In this paper, we contribute to addressing the challenge of evaluating socially optimal climate policy in a world with atmosphere-biosphere interactions by combining the work of two influential economists: Partha Dasgupta and Bill Nordhaus. Specifically, we include non-linear ecosystem capital dynamics inspired by the Dasgupta Review on the Economics of Biodiversity in a recently updated DICE model to study the effects on the optimal level of ecosystem capital, economic growth, the social cost of carbon, and the social value of nature. Our results, which are robust to changes in key parameter specifications, indicate the need for more ambitious climate policy in order to limit damages to ecosystem capital. We also highlight the role of reducing natural resource use and waste in order to let ecosystems regenerate and foster the creation of co-benefits for climate mitigation through nature-based carbon removal. | |