climate-scenario-2

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Scenario 2: Exploring Policies With FUND

The Climate Framework for Uncertainty, Negotiation and Distribution (FUND) is an Integrated Assessment Model (IAM). Extract the 50 equations from FUND 3.9. Also extract the tables of parameters from the FUND Table Document. The FUND source code (written in Julia) can be found here.

1. Starting in 1970, calculate the trajectory of $M$ in Equation CO2.1, for a 50-year duration. Sum over any 4 of the 16 regions present in the FUND data.
2. Add a carbon tax of $5/tC (policy number 1) and $10/tC (policy number 2), and recalculate the trajectory of $M$. Do this by setting these prices in $\tau$ (see Equations CO2.2 and CO2.3, and several other equations). How does implementing these two policies impact $M$’s trajectory, compared to the result of Question 2?
3. Next, let’s enact a policy that reduces space heating and cooling (Equations E.1 and E.2). Only in these equations, reduce the change in global mean temperature ($T_t$) to only 1 degree, to indirectly simulate less heating and cooling of indoor temperatures. Recalculate the trajectory of $M$ - how does the result compare with the output from Question 2?
4. Now enact both a carbon tax ($10/tC) and reduction in heating and cooling. What is the combined effect of both policies now?
5. The global mean temperature is defined by Equation C.4. Optimize FUND so that the mean temperature increase does not surpass 3° C over the course of the next 100 years, starting in 2020. Optimize only over the following 5 parameters (and for all other required parameters, find relevant values from the literature). Start with the default values listed for each parameter as written in the documentation.
   • $B_{max}$ - total stock of potential emissions (Equation DB.1)
   • $\alpha$ - fraction of emissions $E$ (Equation C.2b with values in text)
   • $\epsilon$ - income elasticity of the share of agriculture in the economy (Equation A.5 with value range in text)
   • $\beta$ - income elasticity of wetland value (Equation SLR.11 with value range in text)
   • $\eta$ - degree of non-linearity of the response of diarrhea mortality to regional warming (Equation HD.1 with value and error given in text)

Please note that the links and specific equation details need to be filled in as per the actual FUND documentation and source code.