How are the benefits of new climate policies weighed against the costs of their implementation? Climate economists and scientists have created a value called the social cost of carbon in order to better understand the cost/benefit relationship of climate policies and regulations.
This value is difficult to quantify, with factors such as future societal wealth and global climate damages (such as species extinction) that are impossible to know.
Find out how the social cost of carbon is calculated, how it should, perhaps, be calculated, and why the effort to quantify this value is necessary despite its imperfections with the help of two climate experts, Dr. Tamma Carleton of UC Santa Barbara and Dr. Bob Kopp of Rutgers University.
Dr. Amine Ouazad speaks with Climate Now about how climate could spark the next financial crisis.
Sea levels are rising, storms are worsening, and flooding is consistently exceeding FEMA’s 100-year floodplain maps. Yet, an increasing percentage of new mortgages are used to purchase homes in at-risk areas. And lenders are selling mortgages in areas hit by hurricanes at higher rates to Fannie Mae and Freddie Mac, who are backed by American taxpayers, according to research done by Dr. Amine Ouazad, Professor of Economics at HEC Montreal.
Dr. Sergey Paltsev, Deputy Director of MIT’s Joint Program on the Science and Policy of Global Change, spoke with Climate Now hosts James Lawler and Katherine Gorman about climate projections and the tools he and his colleagues at MIT use to communicate projected outcomes to policymakers and the public.
Featuring Dr. Ian Bolliger of Rhodium Group and Climate Impact Lab
It’s hard to put a dollar number on the destruction of the great barrier reef. And we don’t know exactly how much it’s going to warm where. But we can take physical estimates and quantify the range of monetary impacts that climate change might cost. In this video, we examine the projected costs of climate change in human health, agriculture, sea level rise and extreme weather, labor and energy, and migration.
Dr. Ian Bolliger, Climate Data Scientist at Rhodium Group and affiliate of the Climate Impact Lab, joins Climate Now podcast hosts Katherine Gorman and James Lawler to explain how we measure the costs of climate change (in dollar terms) across sectors and communities. Putting a number on these costs can help businesses, governments, and communities better allocate funding towards adaptation and prevention.
Professor of Atmospheric Science at MIT
Co-director of the Lorenz Centre
Emissions of greenhouse gases are rising dramatically worldwide, but it can be challenging to grasp just how much we are emitting, and where those emissions come from. Here we break down how much we are emitting in total, by country and region, and by economic sector. We also discuss the relationship between key economic and demographic variables and greenhouse gas emissions.
Director of the Institute of Earth, Ocean,
and Atmospheric Sciences at Rutgers University
Hosts Katherine Gorman and James Lawler interview Dr. Bob Kopp of Rutgers University about sea level rise and how we estimate the costs of climate damages. Dr. Kopp is one of the foremost experts in climate science, and has held positions both in the Department of Energy and in academia. Our conversation spans two of Dr. Kopp’s areas of focus: sea level rise and the social cost of carbon.