The social cost of carbon dioxide under climate-economy feedbacks and temperature variability

  title={The social cost of carbon dioxide under climate-economy feedbacks and temperature variability},
  author={Jarmo S. Kikstra and Paul Waidelich and James A. Rising and Dmitry Yumashev and Chris Hope and Chris M. Brierley},
  journal={Environmental Research Letters},
A key statistic describing climate change impacts is the ‘social cost of carbon dioxide’ (SCCO2), the projected cost to society of releasing an additional tonne of CO2. Cost-benefit integrated assessment models that estimate the SCCO2 lack robust representations of climate feedbacks, economy feedbacks, and climate extremes. We compare the PAGE-ICE model with the decade older PAGE09 and find that PAGE-ICE yields SCCO2 values about two times higher, because of its climate and economic updates… 

Climate Impacts on Natural Capital: Consequences for the Social Cost of Carbon

The effects of climate change on natural systems will be substantial, widespread, and likely irreversible. Warmer temperatures and changing precipitation patterns have already contributed to forest

Estimates of the social cost of carbon have increased over time

A meta-analysis of published estimates shows that the social cost of carbon has increased as knowledge about climate change accumulates. Correcting for inflation and emission year and controlling for

The Social Cost of Carbon: Advances in Long-Term Probabilistic Projections of Population, GDP, Emissions, and Discount Rates

The social cost of carbon (SCC) is a crucial metric for informing climate policy, most notably for guiding climate regulations issued by the US government. Characterization of uncertainty and

A Meta-Analysis of the Total Economic Impact of Climate Change

  • R. Tol
  • Economics
    SSRN Electronic Journal
  • 2022
Earlier meta-analyses of the economic impact of climate change are updated with more data, with three new results: (1) The central estimate of the economic impact of global warming is always

Persistent effect of temperature on GDP identified from lower frequency temperature variability

It is well established that temperature variability affects a range of outcomes relevant to human welfare, including health, emotion and mood, and productivity across a number of economic sectors.

The effect of rainfall changes on economic production

A global assessment of subnational economic output for 1,554 regions worldwide over the past 40 years shows that increases in the number of wet days and extreme daily rainfall adversely affect economic growth, particularly in high-income nations and via the services and manufacturing sectors.

Climate-Society Feedback Effects: Be Wary of Unidentified Connections

Feedbacks within the climate-economy system are complex. The research analyzing the relationship between human activities and the climate is considerable, with particular focus on intra-system

Integrated perspective on translating biophysical to economic impacts of climate change

Estimates of climate change’s economic impacts vary widely, depending on the applied methodology. This uncertainty is a barrier for policymakers seeking to quantify the benefits of mitigation. In

What are the Linkages between Climate and Economy? Bibliometric Analysis

Abstract Climate change poses a major challenge to capitalist-oriented societies to restructure their economies and adapt to low-carbon measures that, at first glance, may not be the most

Sustainability after COVID-19: pillars for a just transition

The vulnerability of the global economy has been starkly exposed by the COVID-19 pandemic. Longer term thinking and new approaches to development and prosperity are urgently required. In this paper,



Climate Impacts on Economic Growth as Drivers of Uncertainty in the Social Cost of Carbon

We reexamine estimates of the social cost of carbon (SCC) used by agencies as the price of carbon emissions in cost-benefit analysis, focusing on those by the federal Interagency Working Group on SCC

Climate system properties determining the social cost of carbon

The choice of an appropriate scientific target to guide global mitigation efforts is complicated by uncertainties in the temperature response to greenhouse gas emissions. Much climate policy

The Social Cost of Carbon Revisited

  • R. Pindyck
  • Economics
    Journal of Environmental Economics and Management
  • 2019
An estimate of the social cost of carbon (SCC) is key to climate policy. But how should we estimate the SCC? A common approach is to use an integrated assessment model (IAM) to simulate time paths


The social cost of carbon (SCC) is a monetary estimate of global climate change damages to society from an additional unit of carbon dioxide (CO2) emissions. SCCs are used to estimate the benefits of

Country-level social cost of carbon

The social cost of carbon (SCC) is a commonly employed metric of the expected economic damages from carbon dioxide (CO2) emissions. Although useful in an optimal policy context, a world-level

Revisiting the social cost of carbon

  • W. Nordhaus
  • Economics
    Proceedings of the National Academy of Sciences
  • 2017
Significance The most important single economic concept in the economics of climate change is the social cost of carbon (SCC). At present, regulations with more than $1 trillion of benefits have been

Valuing the Global Mortality Consequences of Climate Change Accounting for Adaptation Costs and Benefits

This paper develops the first globally comprehensive and empirically grounded estimates of mortality risk due to future temperature increases caused by climate change. Using 40 countries' subnational

Temperatures and cyclones strongly associated with economic production in the Caribbean and Central America

  • S. Hsiang
  • Economics, Environmental Science
    Proceedings of the National Academy of Sciences
  • 2010
The results suggest that current models of future climate change that focus on agricultural impacts but omit the response of workers to thermal stress may underestimate the global economic costs of climate change.

The Economic Impacts of Climate Change

  • R. Tol
  • Economics
    Review of Environmental Economics and Policy
  • 2018
This article reviews the economic impacts of climate change and the policy implications of the results. Current estimates indicate that climate change will likely have a limited impact on the economy