¿How much and for how long could the annual cost of atmospheric greenhouse gas (CO2e) abatement between 1960-2020 through carbon pricing be estimated?

Abstract

Abstract This document presents the estimated cost and timing of climate change mitigation through carbon pricing based on the anthropogenic greenhouse gas emissions for the period 1960 to 2020. This was done by constructing a matrix of prices using public databases comparing reported emissions (Andrew, 2021; Friedlingstein et al., 2020), and then formulating the greenhouse gas storage scenarios that were formed based on the cost-effective prices (Griscom et al., 2017). This allowed the range of feasible prices to be determined according to the COP Chair's estimates of annual investment capacity and the Stern Review on the Economics of Climate Change (Stern, 2006). Consequently, as a contribution to the knowledge of the carbon market prices, the annual cost scenarios for climate change management were formulated on the basis of historical emissions and a financial model that compensates investments including absorption and storage of the greenhouse gases \(CO2e\) in terms of time in a range of 13 to 63 years and a cost of 50 billion to 1.2 trillion dollars. In conclusion, it is possible to use carbon markets to mitigate climate change based on the constraints outlined above by means of the natural climate solutions.