The Economics of Global Allocations of the Green Climate Fund : An Assessment From Four Scientific Traditions of Modeling Adaptation Strategies

This book provides an incisive and economic assessment of the global warming adaptation policy and programs carved out by the United Nations Framework Convention on Climate Change, the Green Climate Fund (GCF), by relying on the four scientific traditions that have been advanced on the economics of adaptation to climate change in agricultural and natural resource enterprises. Substantially expanding and refocusing on the book __Micro-behavioral Economics of Global Warming: Modeling Adaptation Strategies in Agricultural and Natural Resource Enterprises__ published by Springer in 2015, this book elucidates the theories and summarizes the empirical results and predictions from the four traditions of adaptation modelling: a microbehavioral economic model of adaptation, an agronomic-economic modelling, a statistical model of yield/productivity changes, and an ecosystem model of climate change impacts. The four modeling traditions are freshly analyzed and applied to the assessments of the 93+ GCF-funded projects and programs through the end of 2018. Preface 6 Contents 8 About the Author 11 List of Figures 12 List of Tables 14 Chapter 1: Economics of the Green Climate Fund, Paris Agreements, and Global Funds and Currencies: An Overview 17 1.1 Challenges of the Green Climate Fund 17 1.2 Paris Agreements and the GCF 21 1.3 Voluntary Pledges 24 1.4 Making Decisions on the GCF Allocations 25 1.5 Economics of the Global Green Climate Fund 27 1.6 Evaluating the GCF ́s Allocations 31 1.7 Five Scientific Traditions of Global Warming 34 1.8 Global Funds, Programs, Currencies 39 1.9 Road Map of the Book 43 References 44 Chapter 2: The Green Climate Fund: History, Institution, Pledges, Investment Criteria 50 2.1 Introduction 50 2.2 A Historical Development of the GCF 52 2.3 An Analysis of GCF Pledges 55 2.4 An Analysis of GCF Funding Decisions 57 2.5 An Analysis of Individual GCF Awards by Results Area 61 2.6 GCF Investment Criteria 71 2.7 The Road to Evaluations of the GCF Projects 78 References 79 Chapter 3: The Microbehavioral Economic Models of Adaptation Behaviors to Global Warming 81 3.1 Introduction 81 3.2 A Theory of the Microbehavioral Economics of Adaptation Behaviors 83 3.3 Microbehavioral Data 96 3.4 Adaptation Behaviors 99 3.4.1 Choice of Livestock Species 99 3.4.2 Adoption of Agricultural Systems 100 3.4.3 Adaptation Behaviors to Climate Risk 101 3.4.4 Public Adaptation 104 3.4.5 Natural Resource Intensive Enterprises 105 3.5 Microbehavioral Economics Implications for the GCF Funds Allocations 108 3.6 Additional Insights of the Microbehavioral Economic Models 111 References 112 Chapter 4: Agro-Economic Models for Measuring the Impact of Climate Change on Agriculture 119 4.1 Introduction 119 4.2 Theory 120 4.3 Empirical Results: FACE Versus Agronomic Simulations 123 4.4 Empirical Results: Extrapolations from the Plot Level to the National Level 126 4.5 Empirical Results: National Economic Welfare Changes 128 4.6 Empirical Results: International Applications 131 4.7 Ad Hoc Approach on Adaptations 136 4.8 Applications to the Green Climate Fund ́s Decisions 138 References 139 Chapter 5: Statistical Methods for Estimating Yield Changes Attributable to Climate Change 144 5.1 Introduction 144 5.2 Statistical Methods 146 5.3 Agricultural Census 149 5.4 Empirical Results: Studies in U.S. Agriculture 150 5.5 Applications: International Contexts 153 5.6 Interpretations 156 5.7 Implications for GCF Funding Decisions 159 References 161 Chapter 6: Ecosystem-Based Economic Modelers of Climate Change 164 6.1 Introduction 164 6.2 Global Land Cover Database for Climate Studies 166 6.3 Agro-Ecological Zones 175 6.4 The AEZ Impact Analysis 180 6.5 GCF Grant Allocations into Vulnerable Ecosystems? 185 References 187 Chapter 7: Economics and Evaluations of the Green Climate Fund 191 7.1 Introduction 191 7.2 A Theory of Public Expenditure 194 7.3 A Theory of Ricardo-Pareto Efficiency in Resource Uses 198 7.4 A Theory of Public Adaptation 202 7.5 Evaluation: A Public Adaptation Theory Test 204 7.6 Evaluation: A Samuelson Public Expenditure Test 206 7.7 Evaluation: A Ricardo-Pareto Efficiency Test 212 7.8 Additional Verdicts 225 References 228 Chapter 8: Economics of Global Funds: United Nations Specialized Funds and Other Crypto, Crowdfunding, Green Funds 234 8.1 Introduction 234 8.2 United Nations: Funds, Programs, and Specialized Agencies 240 8.3 Crowdfunding 246 8.3.1 Rewards-Based Crowdfunding 246 8.3.2 Donors ́ Motivations, Risks, and Fraud 248 8.3.3 Other Types of Crowdfunding 250 8.3.4 GoFundMe 250 8.4 Bitcoin and Cryptocurrencies 251 8.4.1 Block Chain: Creation of Bitcoins 253 8.4.2 No Governance, Decentralization, Globalization 254 8.4.3 Bitcoin Exchanges 255 8.4.4 Bitcoin Uses and Users 256 8.4.5 Risk in Bitcoin 258 8.4.6 Bitcoin and the GCF 259 8.5 Green Funds: A CO2 Permit 261 8.6 Guidelines on the Green Climate Fund ́s Investment Decisions 264 References 268 Index 272 Front Matter ....Pages i-xix Economics of the Green Climate Fund, Paris Agreements, and Global Funds and Currencies: An Overview (S. Niggol Seo)....Pages 1-33 The Green Climate Fund: History, Institution, Pledges, Investment Criteria (S. Niggol Seo)....Pages 35-65 The Microbehavioral Economic Models of Adaptation Behaviors to Global Warming (S. Niggol Seo)....Pages 67-104 Agro-Economic Models for Measuring the Impact of Climate Change on Agriculture (S. Niggol Seo)....Pages 105-129 Statistical Methods for Estimating Yield Changes Attributable to Climate Change (S. Niggol Seo)....Pages 131-150 Ecosystem-Based Economic Modelers of Climate Change (S. Niggol Seo)....Pages 151-177 Economics and Evaluations of the Green Climate Fund (S. Niggol Seo)....Pages 179-221 Economics of Global Funds: United Nations Specialized Funds and Other Crypto, Crowdfunding, Green Funds (S. Niggol Seo)....Pages 223-260 Back Matter ....Pages 261-266