The social cost of carbon and inequality
The social cost of carbon is a monetary metric for the damage caused by the emission of an additional tonne of CO2. Previous literature has shown that accounting for inequality between countries significantly influences the social cost of carbon, but mostly omits heterogeneity below the national level. Using a model that features heterogeneity both between and within countries, this column demonstrates that climate and distributional policy can generally not be separated. In particular, it shows that a higher social cost of carbon may be called for globally under realistic expectations of existing inequality.
Deploying Digital Tools to Withstand Climate Change in Low-Income Countries
Although climate change is sometimes viewed as an abstract and future risk, its catastrophic impacts have already been felt in numerous areas, from coastal cities pummeled by stronger storms, to harvests blighted by locusts, droughts and floods.
U.S. seeks to polish tarnished reputation with new climate change pledges ahead of Earth Day
WASHINGTON/BRUSSELS (Reuters) -The United States hopes to restore its shattered credibility when it hosts a climate change summit next week by pledging to cut its greenhouse emissions by at least half and securing agreements from allies for faster reductions, according to two sources familiar with the matter.
Big business seeks unified, market-based approaches ahead of climate summit
(Reuters) – Corporate executives and investors say they want world leaders at next week’s climate summit to embrace a unified and market-based approach to slashing their carbon emissions.
China has a grand carbon neutrality target but where is the plan?
China’s new long-term targets, to reach peak emissions before 2030 and achieve carbon neutrality by 2060, are yet to be matched with a consistent short-term action plan.
It’s time for a green social contract
The green transformation will have far-reaching socio-economic implications. Action is needed to ensure domestic and international social equity and fairness.
