In 2024, a grim record was set: it was the hottest year ever recorded on Earth. The signs of climate upheaval are now visible to all, as global warming manifests itself in a rapid rise in extreme weather events. In theory, the solution is straightforward: we must stop burning fossil fuels. In practice, phasing out energy sources so firmly entrenched in contemporary societies is an immense challenge. To reduce CO₂ emissions, economists — trained in cost–benefit analysis — can help policymakers design strategies that are both effective and socially acceptable.
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A Clear Objective: Net Zero
Awareness of climate change has grown rapidly since the establishment of the IPCC (Intergovernmental Panel on Climate Change) in 1988. Over the years, this has led to increasingly ambitious targets.
Greenhouse Gases and Global Warming
The Earth is surrounded by an atmosphere that traps part of the Sun’s radiation. Thanks to this natural greenhouse effect, the average surface temperature of our planet is around +15 °C rather than -18 °C. This effect is caused by clouds, water vapour, and so-called greenhouse gases (GHGs), chiefly carbon dioxide (CO₂).
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économiques is a digital journal published by the Aix-Marseille School of Economics (AMU, CNRS, EHESS, Centrale Méditerranée). A gateway between academic research and society, Dialogues économiques provides all citizens with the keys to economic reasoning. Articles are published every two weeks.
Since the Industrial Revolution, humanity has burned vast quantities of carbon-based fuels - oil, coal, and gas. The concentration of CO₂ in the atmosphere has risen by more than 40%, driving an average temperature increase of about 1.1 °C compared with pre-industrial levels.
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Article originally published in Dialogues Économiques on December 5, 2025.
Reference: Fanny Henriet, L’économie peut-elle sauver le climat ? Presses universitaires de France (PUF) / Humensis, 2025
Fanny Henriet, Nicolas Maggiar, Katheline Schubert, 2016, "La France peut-elle atteindre l’objectif du Facteur 4 ? Une évaluation à l’aide d’un modèle stylisé énergie-économie", Economie et Prévision,n° 208-209 (1), pp.1.
Fanny Henriet, Nicolas Maggiar, and Katheline Schubert, 2014, "A Stylized Applied Energy-Economy Model for France," The Energy Journal, International Association for Energy Economics, vol. 0 (Number 4).
Photo credit: NASA
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