OECD Expert workshop on Economic Modelling of Climate and Related Tipping Points
Emerging evidence highlights the increasing risks of systemic changes caused by climate change. These include large-scale tipping points in the Earth’s climate as well as climate change-induced impacts that could cause abrupt changes to the economic system. Models that underpin most economic analyses of climate change rarely include the possibility of abrupt changes to the climate or economic systems. Nevertheless, such changes – climate and related tipping points – are a major determinant of the optimal levels of policy effort.
The workshop convened leading experts in the field of environmental-economic modelling and climate science to discuss the current state of scientific understanding surrounding abrupt changes to the climate and economic systems due to climate change and climate-related policies.
The workshop was articulated in four sessions distributed over two days. The first session set the scene by providing an overview of our understanding of tipping points. The following two sessions focused on state-of-the-art economic modelling of climate and related tipping points. Finally, a panel discussion provided a reflection on the broader implications for research advancement. Each session was chaired by an expert who introduced the speakers and fostered a discussion on modelling approaches.