We quantify the U.S. corporate sector's carbon externality by computing the sector's "carbon burden"--the present value of social costs of its future carbon emissions. Our baseline estimate of the carbon burden is 131% of total corporate equity value. Among individual firms, 77% have carbon...

Firms' perceived cost of green capital has decreased since the rise of sustainable investing. Green and brown firms perceived their cost of capital to be the same before 2016, but after the post-2016 surge in sustainable investing, green firms perceived their cost of capital to be on average 1...

This paper provides stated preference (SP) estimates of the average social cost of carbon (ASCC) for use in evaluation of the benefits and costs of climate policy. Based on a U.S. nationally representative survey, we find an average individual willingness-to-pay (WTP) of $1,116 per year to keep...

Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate climate impacts with specific emissions, including in recent international policy discussion of Loss and Damage (L&D). However, no quantitative definition of L&D exists, nor does...

This paper shows that unilateral decarbonization pays for itself in large economies. We estimate economic damages from global temperature shocks and combine them with a climate-economy model to construct Domestic Costs of Carbon: $226 per ton for the United States and $216 per ton for the...

Estimating the cost to society from a ton of carbon dioxide (CO2) released into the atmosphere requires connecting a model of the climate system with a representation of the economic and social effects of changes in climate, as well as the valuation and aggregation of diverse, uncertain impacts...

Increased temperature-related mortality is predicted to be one of the largest contributors to future economic damages from climate change globally, with declines in cold-related deaths in some regions outweighed by increases in heat-related deaths in others. Changes in temperature could also...

Wildfire activity has increased in the US and is projected to accelerate under future climate change. However, our understanding of the impacts of climate change on wildfire smoke and health remains highly uncertain. We quantify the past and future mortality burden in the US due to wildfire...

There is a rapidly advancing literature on the macroeconomics of climate change. This review focuses on developments in the construction and solution of structural integrated assessment models (IAMs), highlighting the marriage of state-of-the-art natural science with general equilibrium theory....

Human-induced climate change has increased wildfire risks, associated air pollution, and health damages in North America. Despite its large potential for damage, climate-induced wildfire smoke is rarely incorporated in estimates of the societal costs of climate change. We develop an integrated...