This note considers the treatment of risk and uncertainty in the recently established "social cost of carbon" (SCC) for analysis of federal regulations in the United States. It argues that the analysis of the US Interagency Working Group on Social Cost of Carbon did not go far enough into the...

This note considers the treatment of risk and uncertainty in the recently established "social cost of carbon" (SCC) for analysis of federal regulations in the United States. It argues that the analysis of the US Interagency Working Group on Social Cost of Carbon did not go far enough into the...

The global climate is changing, and will continue to do so even if greenhouse gas emissions are dramatically curbed. Economies are therefore faced with the challenge of adapting to climate change. This challenge is particularly important in developing countries, which, due to a combination of...

In October 2010, a group of leading thinkers on environmental policy met at the Sustainable Consumption Institute at the University of Manchester for a conference in honour of Nobel Laureate Tom Schelling. This column presents a 10-point guideline for climate change policy co-authored by 26...

The Stern Review on the Economics of Climate Change concluded that there can be "no doubt" the economic risks of business-as-usual climate change are "very severe" (Stern, 2006, p188). The total cost of climate change was estimated to be equivalent to a one-off, permanent 5-20% loss in global...

Launched on 30 October last year, the Stern Review on the Economics of Climate Change has received attention in academic, political, and popular circles worldwide, possibly unprecedented for a government report of its kind. The Review was set up to provide the U.K. prime minister and chancellor...