Energy security, air pollution, and climate change: an integrated cost-benefit approach

A combined cost-benefit analysis on energy security, local air pollution and global climate change - three closely related problems, as they are driven by fossil energy - shows that integrated policies can generate net welfare benefits. Furthermore, the CO2 emission reductions in Europe for the medium term can be significant. This finding demonstrates the mutual relevance of, and interaction between, policies designed to, simultaneously, address energy security, local air pollution, and global climate change.