The Economics of 350:
The Benefits and Costs of Climate Stabilization
Frank Ackerman, Elizabeth A. Stanton, Stephen J. DeCanio, Eban Goodstein,
Richard B. Howarth, Richard B. Norgaard, Catherine S. Norman, Kristen A. Sheeran
October 2009
Economics for Equity and Environment
www.e3network.org
Economics for
Equity and the Environment
www.e3network.org
Economics for Equity and the Environment Network is a national network of economists who are developing and applying
economic arguments for active protection of human health and the natural environment.
E3 Network is an affiliate of Ecotrust.
Contact:
Kristen Sheeran, Director
Economics for Equity and the Environment Network
503.467.0811
director@e3network.org
This report was produced in partnership with Ecotrust and SEI-US
Frank Ackerman
Stockholm Environment Institute - U.S. Center, Tufts University
Elizabeth A. Stanton
Stockholm Environment Institute - U.S. Center, Tufts University
Stephen J. DeCanio
University of California, Santa Barbara
Eban Goodstein
Bard Center for Environmental Policy, Bard College
Richard B. Howarth
Dartmouth College
Richard B. Norgaard
University of California, Berkeley
Catherine S. Norman
Johns Hopkins University
Kristen A. Sheeran
Economics for Equity and the Environment Network
Institutions listed for identification only.
www.sei-us.org
www.ecotrust.org
The Economics of 350: The Benefits and Costs of Climate Stabilization
2
Executive Summary
Stopping global warming and protecting the earth’s climate is a daunting challenge. To prevent a climate crisis
we have to move quickly to transform the ways in which we create and use energy, develop petroleum-free
transportation, and much more. These changes will not be free; there is already resistance to paying for the first
steps along this road. Some think that reaching for more ambitious mitigation targets, and quicker reductions
in emissions, would mean economic disaster. Some economists have become known for advocating only slow
and modest responses to climate change,