When you fly on an airplane or eat steak or take an Uber Honda Civic to a restaurant, you contribute to the climate change challenge as you use fossil fuels to achieve your goal.
Hi Matthew, thanks for the thought-provoking post. I do have a couple questions - Isn't it true that the social cost of carbon doesn't currently account for most anticipated climate catastrophes, and would therefor likely continue to increase as we add risks such as wildfire, drought, etc. to our SCC calculations?
Furthermore, I get that humans will continue to innovate and compensate for climate change in unpredictable ways, but won't climate change pose unexpected risks that will be damaging to society in the future, and therefor maybe expecting us to innovate ourselves out of a crisis is risky in itself?
"Equation #3; A GNP Damage function such that the world economy becomes poorer as global average temperature increases." The equation ASSUMES a cost of carbon. That has not been established. The benefits of more warmth and more CO2 are routinely ignored. The SCC will be positive in some places and negative in others. I find it just as likely that added CO2 and warmth has a net benefit.
Hi Matthew, thanks for the thought-provoking post. I do have a couple questions - Isn't it true that the social cost of carbon doesn't currently account for most anticipated climate catastrophes, and would therefor likely continue to increase as we add risks such as wildfire, drought, etc. to our SCC calculations?
Furthermore, I get that humans will continue to innovate and compensate for climate change in unpredictable ways, but won't climate change pose unexpected risks that will be damaging to society in the future, and therefor maybe expecting us to innovate ourselves out of a crisis is risky in itself?
Thanks.
"Equation #3; A GNP Damage function such that the world economy becomes poorer as global average temperature increases." The equation ASSUMES a cost of carbon. That has not been established. The benefits of more warmth and more CO2 are routinely ignored. The SCC will be positive in some places and negative in others. I find it just as likely that added CO2 and warmth has a net benefit.