The Biden Administration Increases the Social Cost of Carbon
A feature story in Undark, later published in Quartz and WIRED, includes RFF scholar Kevin Rennert's insights about the new interim value for the social cost of carbon.
"Another ongoing debate centers on how society values future costs and benefits, which is determined by what economists call the discount rate. 'In all economic analysis, there are tradeoffs between money you have now, or damages you feel now, and those you might feel later,' said Kevin Rennert, director of the Social Cost of Carbon Initiative at Resources for the Future, a nonpartisan, nonprofit research institution in Washington, D.C. 'And that applies to climate change as well.'"
