At What Price? Quantifying the Social Cost of Carbon

Venue: Theatre 2, Level 2, Business and Economics Building

Presenters: Associate Professor Antony Millner

Since the early 1990s economists and energy modelers have used Integrated Assessment Models to estimate the social cost of carbon (SCC), the most important number in climate economics. The SCC measures the global welfare cost of a unit of greenhouse gas emissions, and thus summarises how "big" the climate problem is in dollar terms. Until recently the SSC has largely been of academic interest, but quantitative estimates of its value are increasingly finding their way into regulations that have the potential to affect billions of dollars of investments globally. This seminar will examine recent debates on the scientific status of these quantitative estimates and look at potential impacts if their incorporation into regulation frameworks continues to grow. Are integrated assessment models up to the task of providing policy-relevant estimates?

from
https://events.unimelb.edu.au/events/8495-at-what-price-quantifying-the-social-cost-of-carbon