The social cost of carbon (SCC) is a crucial tool for economic analysis of climate policies. The SCC estimates the dollar value of reduced climate change damages associated with a one-metric-ton reduction in carbon dioxide (CO2) emissions. Although the conceptual basis, challenges, and merits of the SCC are well established, its use in government cost-benefit analysis (CBA) is relatively new. In light of challenges in constructing the SCC, its newness in government regulation, and the importance of updating, we propose an institutional process for regular SCC review and revision when used in government policy-making and suggest how scientists might contribute to improved SCC estimates.
Using and Improving the Social Cost of Carbon
Journal Article by William Pizer, Matthew Adler, Joseph E. Aldy, David Anthoff, Maureen L. Cropper, Kenneth Gillingham, Michael Greenstone, Brian Murray, Richard Newell, R. Richels, A. Rowell, S. Waldhoff, and Jonathan Wiener — Feb. 4, 2014View Journal Article
William A. Pizer
Joseph E. Aldy
Maureen L. Cropper
Richard G. Newell
President and CEO, Resources for the Future
Jonathan B. Wiener
Testimony and Public Comments — Nov 20, 2019
Comments on EPA’s Proposed Rule, “Oil and Natural Gas Sector: Emission Standards for New, Reconstructed, and Modified Sources Review”
These comments were submitted to the Environmental Protection Agency in response to a request for comments.
Media Highlight — Nov 15, 2019
"This new ‘battery’ aims to spark a carbon capture revolution"
Richard Newell is quoted in PBS NewsHour article on carbon capture technology.
Conferences & Panels — Oct 30, 2019
Clean Energy Standards Capitol Hill Briefing
A lunchtime discussion on the effects of and policy considerations for Clean Energy Standards