Abstract
Abstract. There is a controversy on the role methane (and other short-lived species) should play in climate mitigation policies and no consensus on what an optimal methane CO2-equivalence should be. We revisit this question by discussing the relative merits of physically-based (i.e. Global Warming Potential or GWP and Global Temperature change Potential or GTP) and socio-economically-based climate metrics. To this effect we use a simplified Global Damage Potential (GDP) that was introduced by earlier authors and investigate the uncertainties in the methane CO2-equivalence that arise from physical and socio-economic factors. The median value of the methane GDP comes out very close to the widely used methane 100-year GWP because of various compensating effects. However there is a large spread in possible methane CO2-equivalences (1–99% interval: 10.0–42.5; 5–95% interval: 12.5–38.0) that is essentially due to the choice in some socio-economic parameters (i.e. the damage cost function and the discount rate). The methane 100-year GTP falls outside these ranges. It is legitimate to increase the methane CO2-equivalence in the future as global warming unfolds. While changes in biogeochemical cycles and radiative efficiencies cause some small changes to physically-based metrics, a systematic increase in the methane CO2-equivalence can only be achieved by some ad-hoc shortening of the time horizon. In contrast using a convex damage cost function provides a natural increase in the methane CO2-equivalence for the socio-economically-based metrics. We also show that a methane CO2-equivalence based on a pulse emission is sufficient to inform multi-year climate policies and emissions reductions as long as there is some degree of visibility on CO2 prices and CO2-equivalences.