• A review of greenhouse gas emission liabilities as the value of renewable energy for mitigating lawsuits for climate change related damages
    Author: Heidari N and Pearce J M
    Source: Renewable and Sustainable Energy Reviews 55:p.899–908
    Year: 2016
    Author Affiliation: Department of Electrical & Computer Engineering, Michigan Technological University, MI, USA
    Abstract:Anthropogenic global climate change has large and mounting negative economic impacts. Companies and nations responsible for greenhouse gas (GHG) emissions are thus acquiring considerable potential liabilities. If litigation becomes widespread, renewable energy technologies potentially offer emitters reduced liability for climate change. This benefit has been ignored because of lack of knowledge of potential liabilities. To overcome this information deficit, this paper reviews recent literature on the potential for climate change litigation and methods to quantify liability for climate change. Next, the top ten emitters in the US are identified and their potential liability is quantified using standard GHG emission costs. Potential liabilities are explored in depth with a single case study company comparing the results of the fractional liability from only natural disasters within the US for a single year to the sensitivity of the future costs of carbon emissions from other sources of emission-related liability. The results show that net income available to shareholders of large companies could see a significant reduction from the emission liability related to only natural disasters in the US from a single coal-fired power plant. Finally, a rough estimate of the economic risk associated with future scenarios and existing organized international potential litigants is quantified. The results show that potential liability for climate change for the Alliance of Small Island States is over $570 trillion. It is concluded that as emitters begin to be held liable for damages resulting from GHG emissions resulting in climate change, a high value for liability mitigation would provide additional powerful incentives for deployment of renewable energy technologies.

Search :
Browse by:

Search in:

TERI Library     Copyright © 2020 TERI        Disclaimer