Abstract
This paper discusses the economic impacts of climate change, including those on ecosystems. Using the dynamic integrated climate economy (DICE) model, we developed a new model (CEEM) to calculate the optimal path by considering new backstop technologies, such as CO2 capture and storage (CCS). We identify the effects of parameter changes based on the resulting differences in CO2 leakage and sites to analyze the feasibility of new backstop technologies. In addition, we focus on ocean acidification and consider the impact on economic activity. As a result, we find that new backstop technologies can only delay the effects of climate change, but its use is necessary to achieve strict targets, such as a 1.5°C limit.
