ABSTRACT
There is a broad consensus on the key elements of climate change science and agreement that near-term actions are needed to prevent dangerous anthropogenic interference with the climate system. However, there is little agreement on the costs and benefits of climate policy. Any policy will result in an irreversible but environment-improving investment in alternative technologies; this change will generate immediately realized costs but significantly delayed benefits. Hence, a critical element in policy selection is the inherent uncertainty in the climate and economy that can be expected over time.
