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...

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...

The global food system is an important contributor to greenhouse gas emissions that lead to climate change. Animal agriculture is responsible for a large share of the food-system emissions, both directly and through the production of animal feed. Limiting global warming to the goals set forth by...

Current policies directed at mitigating global warming appear unlikely to prevent temperatures from rising to levels that would trigger a precipitous increase in the costs of climate change. Various attempts at international cooperation to avoid this outcome have failed. Why is this problem so...

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 develops a theoretical foundation for the social cost of carbon (SCC). The model highlights the source of debate over whether countries should use the global or domestic SCC for regulatory impact analysis. I identify conditions under which a country's decision to internalize the...