Arbeitspapier
Checking the price tag on catastrophe: The social cost of carbon under non-linear climate response
Research into the social cost of carbon emissions - the marginal social damage from a tonne of emitted carbon - has tended to focus on best guess scenarios. Such scenarios generally ignore the potential for low-probability, high-damage events, which are critically important to determining optimal climate policy. This paper uses the FUND integrated assessment model to investigate the influence of three types of low-probability, high-impact climate responses on the social cost of carbon: the collapse of the Atlantic Ocean Meridional Overturning Circulation; large scale dissociation of oceanic methane hydrates; and climate sensitivities above best guess levels. We find that incorporating these events can increase the social cost of carbon by a factor of over 3.
- Sprache
-
Englisch
- Erschienen in
-
Series: ESRI Working Paper ; No. 392
- Klassifikation
-
Wirtschaft
- Thema
-
climate change
catastrophe
non-linearity
impacts
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ceronsky, Megan
Anthoff, David
Hepburn, Cameron
Tol, Richard S. J.
- Ereignis
-
Veröffentlichung
- (wer)
-
The Economic and Social Research Institute (ESRI)
- (wo)
-
Dublin
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Ceronsky, Megan
- Anthoff, David
- Hepburn, Cameron
- Tol, Richard S. J.
- The Economic and Social Research Institute (ESRI)
Entstanden
- 2011
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