Abstract

Research Background: The “European Climate Law“ aims at achieving net zero carbon dioxide emissions within the next 27 years. It is based on the findings of the IPCC and its climate outlook for the 21st century. However, there are serious doubts about IPCC computer models and concerns that measures to curb emissions are not balanced by the possible benefits.

Aim: We want to show the economic impact of climate legislation and bring new facts and aspects to the scientific debate that serve as justification. Furthermore, we find that climate science on global scale is not really settled and we designed a suitable experimental setup to clarify this important question

Methods: We reviewed relevant EU legislation, and performed lab and field measurements of infrared back radiation depending on varying CO2 concentrations compared to atmospheric CO2 concentration. To assess the potential economic impacts of current EU legislation, we surveyed with experts from different fields.

Findings & Value added: Our findings corroborate the repeatedly voiced doubts that increased CO2 will lead to dramatic climate effects. We see clear evidence for saturation of IR absorption at current CO2 concentrations in the atmosphere. A qualitative expert survey points at the potentially negative economic impact of present EU climate legislation.

Keywords: European Climate Law, IPCC, EU Green Deal, CO2 saturation, experiment, measurement, economic impact assessment,

JEL classification: O52, O39, K32, C90, Q20, Q54