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Distinguishing morale hazard from moral hazard in geoengineering

Lockley, AJ; Coffman, DD; (2016) Distinguishing morale hazard from moral hazard in geoengineering. Environmental Law Review , 18 (3) pp. 194-204. 10.1177/1461452916659830. Green open access

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Abstract

Geoengineering is the deliberate modification of the climate system. It has been discussed as a technique to counteract changes expected as a result of Anthropogenic Global Warming (AGW) . Speculation has occurred that the possibility of geoengineering will reduce or delay efforts to mitigate AGW. This possible delay or reduction in mitigation has been described as ‘moral hazard’ by various authors. We investigate the definitions and use of the term ‘moral hazard’, and the related (but significantly different) concept of ‘morale hazard,’ in relevant law, economic and insurance literatures. We find that ‘moral hazard’ has been generally misapplied in discussions of geoengineering, which perhaps explains unexpected difficulties in detecting expected effects experimentally . We clarify relevant usage of the terms, identifying scenarios that can properly be described as moral hazard (malfeasance), and morale hazard (incaution, or recklessness). We note generally the importance of correctly applying this distinction when discussing geoengineering. In conclusion, we note that a proper consideration of the risks of both moral and morale hazards allows us to easily segment framings for geoengineering advocacy; and the advocates groups who rely on these framings. We suggest mnemonics for groups vulnerable to moral hazard (Business as Usuals), and morale hazard (Chicken Littles), and suggest development of an experimental methodology for validating the distinction thus drawn.

Type: Article
Title: Distinguishing morale hazard from moral hazard in geoengineering
Open access status: An open access version is available from UCL Discovery
DOI: 10.1177/1461452916659830
Publisher version: http://doi.org/10.1177/1461452916659830
Language: English
Additional information: © The Author(s) 2016
Keywords: Geoengineering, Moral Hazard, Moral Hazard, Carbon Dioxide Removal, Greenhouse Gas Removal, Negative Emissions Technology
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett Sch of Const and Proj Mgt
URI: https://discovery.ucl.ac.uk/id/eprint/1497219
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