1、Issue 3 September 2024The time-value of carbonAn introductory exploration to support better decision making2The time-value of carbon reportEach decision made must now be made with climate change in mind,and the more we learn to measure and assess climate impacts the more nuanced these choices become

2、.”“The time-value of carbon report31.Context2.Arguments3.Approaches4.Adoption5.Application6.SummaryAppendicesDr.Will HawkinsLecturer in Structural Engineering Design,University of BathClimate change mitigation,arguably humanitys greatest and most crucial challenge,is paradoxically both fundamentally

3、 simple and infinitely complex.In essence,we must ensure that atmospheric concentrations of greenhouse gasses rapidly stop rising,and this means keeping more carbon stored elsewhere-in fossil reserves,in soil,in living organisms and in certain materials.We know that burning fossil fuels is the domin

4、ant source of emissions,so avoiding this should be prioritised.However,transitioning away from such deep-rooted aspects of todays world will profoundly impact social,economic and natural systems.Each decision made within these complex spheres must now be made with climate change in mind,and the more

5、 we learn to measure and assess climate impacts the more nuanced these choices become.Building and infrastructure projects are inherently long-term,with the best lasting hundreds or even thousands of years.These are timescales over which both the climate and emissions can change completely.In the la

6、st decade alone,the emissions intensity of the UKs electricity grid has more than halved,whilst global average temperatures have risen by around 0.5C.Intuitively,the timing of emissions feels important.Earlier emissions will cause a warming effect for longer,giving greater cumulative impacts,and the