Preliminary Analysis of Climate Change Damage in Korea Using the PAGE Model
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초록
This study aims to estimate potential climate change damage in Korea using the PAGE model. This study reviewed previous a reasearch to compare relative sensitivity to climate change in Korea and other regions to generate climate change damage function. It was found that sensitivity to climate change in Korea is similar to other Organization for Economic Cooperation and Development (OECD) countries. This study estimated climate change impact for three scenarios. If no action is taken, climate change damage cost in Korea could reach US$ 12,928 ~ 57,900 M. Cumulative Net Present Value (NPV)of climate change impact from 1990 to 2100 would be between US$ 143,226 ~ 921,701 Mdepending on emission scenarios. However, this result should be interpreted with caution as it draws its damage function based on only a few available references. Results also showed that an adaptation policy could decrease the degree of climate change impact significantly. If an adaptation policy is implemented, climate change impact will be decreased by US$ 11,355 million dollars in Korea in 2100.
Abstract
This study aims to estimate potential climate change damage in Korea using the PAGE model. This study reviewed previous a reasearch to compare relative sensitivity to climate change in Korea and other regions to generate climate change damage function. It was found that sensitivity to climate change in Korea is similar to other Organization for Economic Cooperation and Development (OECD) countries. This study estimated climate change impact for three scenarios. If no action is taken, climate change damage cost in Korea could reach US$ 12,928 ~ 57,900 M. Cumulative Net Present Value (NPV)of climate change impact from 1990 to 2100 would be between US$ 143,226 ~ 921,701 Mdepending on emission scenarios. However, this result should be interpreted with caution as it draws its damage function based on only a few available references. Results also showed that an adaptation policy could decrease the degree of climate change impact significantly. If an adaptation policy is implemented, climate change impact will be decreased by US$ 11,355 million dollars in Korea in 2100.
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