Economics and Management of Climate Change Risks, Mitigation and Ada

Climate change is one of the biggest challenges for mankind. Although there is increasing evidence that climate change is already occurring, there is neither sufficient knowledge as to what extent climate change poses risks to societies and companies, nor

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Bernd Hansj¨urgens · Ralf Antes Editors

Economics and Management of Climate Change Risks, Mitigation and Adaptation

sponsored by

Stiftungsfonds Dresdner Bank im Stifterverband für die Deutsche Wissenschaft

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Editors Bernd Hansj¨urgens Helmholtz Center for Environmental Research - UFZ Leipzig, Germany [email protected]

ISBN: 978-0-387-77352-0

Ralf Antes Carl von Ossietzky University Oldenburg, Germany [email protected]

e-ISBN: 978-0-387-77353-7

Library of Congress Control Number: 2008930110 c 2008 Springer Science+Business Media, LLC 

All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Printed on acid-free paper 9 8 7 6 5 4 3 2 1 springer.com

Preface and acknowledgements

This is the third book of our common project on Corporate Sustainability, funded by the Dresdner Bank Stiftungsfonds im Stifterverband für die Deutsche Wissenschaft. The first two books1 focused on aspects of Emissions Trading at the interface of economics and business administration. This book takes a broader perspective and focuses on climate change, risks, and responses of society and business. As is well-known, climate change is one of the biggest challenges for mankind. Although there is increasing evidence that climate change is already occurring, there is neither sufficient knowledge to what extent climate change poses risks to societies and companies, nor about adequate strategies to cope with these risks. Bringing together scholars from environmental economics, political science, and business management, this book describes, analyses and evaluates climate change risks and responses of societies and companies. The book contributes to the question of how climate change can be mitigated by discussing efficient and effective design of mitigation measures, in particular emissions trading and clean development mechanism. Placing special emphasis on the impact of climate change risks on business, the book investigates in what way selected sectors of the economy are affected and what measures they can undertake to adapt to climate change risks. The book is based on a workshop held at the Leucorea, the former University of Halle-Wittenberg, Germany, from 28th to 30th November 2005. This workshop brought together young and established scholars from different disciplines and from different countries to discuss topics of climate change, risks, mitigation