It is widely accepted that climate change will have substantial impacts on both human society and the natural world. The resulting pressure to design and implement legislation regarding energy policy and carbon mitigation confronts governments, regional authorities, companies, and even private citizens as such decisions will aggregate trillions of dollars.
Given that no plausible policy will avoid all consequences, decision makers are also increasingly aware of the need to plan for a world with changed climate. Existing policy analysis tools to aid in decision-making are far from optimal, in particular in their treatment of the many uncertain factors regarding both the climate and the economy that make definitive projections impossible.
Recognizing this challenge, The University of Chicago, in partnership with several universities and national laboratories, has established the Center for Robust Decision Making on Climate and Energy Policy (the RDCEP Center). The Center has brought together experts in economics, physical sciences, energy technologies, law, computational mathematics, statistics, and computer science and we are currently working on a series of tightly connected research programs. Ultimately this research aims to improve the computational models needed to evaluate climate and energy policies, and to make robust decisions based on outcomes.