This paper aims to introduce the role of forests in mitigating climate change and summarise some of the key issues and research covered in Palmer and Engel (2009). Section 2 presents the climate change problem, the role of forests and the policy debate so far. Section 3 focuses on research to...

The estimated values to society from long-term public projects, including climate change mitigation and infrastructure construction, are highly sensitive to the social discount rate (SDR) employed. Governmental guidance on social discounting has predominantly been based on input from expert...

A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...