SOME ESTIMATES OF THE INSURANCE VALUE AGAINST CLIMATE-CHANGE FROM REDUCING GREENHOUSE-GAS EMISSIONS

Estimates of the value of reduced risk from marginal reductions in cur rent greenhouse gas emissions are presented, using Nordhaus's results and predictions from the scientific models. Only under extreme scenari os for climate change, or when future utility is discounted at an unus ually low rate, does the insurance value seem likely to be significant relative to the costs of cutting emissions.