POLITICO/E&E News: “4 Things to Know about EPA‘s New Climate Damage Metric”
An article in E&E News and POLITICO‘s Power Switch newsletter quote RFF Fellow Brian Prest.
“Higher social cost values are likely to help the Biden administration make the case that stricter climate rules are justified, even if they come at some cost to regulated industry.
‘If you use a de minimis number, it’s very hard to compellingly argue that ambitious regulations are cost-benefit justified,’ noted Brian Prest, a fellow at Resources for the Future.
A higher carbon value can also help tip the scales in favor of a stronger regulatory option that delivers greater net benefits, he said.”
“Agencies will also be able to use new, higher estimates for the so-called social cost of greenhouse gases in rules, budgets, project assessments and other actions. EPA finalized the metrics last month, and the White House has given other agencies the green light to adopt it.
‘I think it would be quite big if it were used for lease sales and in procurement,’ said Brian Prest, a fellow at Resources for the Future. ‘But I think that depends on to what degree these finalized estimates for the EPA are then picked up by other agencies.’”
Media Highlight — Jan 12, 2024
New York Times: “The Price of Carbon Emissions Plunged in 2022, and That‘s Not Good”
A column about new data on carbon prices references important RFF research on the social cost of carbon and quotes former board member Robert Litterman.
Resources Magazine — Jan 11, 2024
How Much Will the Inflation Reduction Act Reduce Emissions?
Maya Domeshek and Nicholas Roy discuss projected reductions in carbon emissions that the Inflation Reduction Act could achieve for the energy sector.
In Focus — Dec 19, 2023
In Focus: The US Environmental Protection Agency’s New Social Cost of Carbon
This video shares insights about the new estimate of the social cost of carbon that was recently published by the US Environmental Protection Agency, with RFF Fellow Brian C. Prest.