Full Title: A Social Cost of Carbon Consistent with a Net-Zero Climate Goal
Author(s): Nicholas Stern, Joseph Stiglitz, Kristina Karlsson, Charlotte Taylor
Publisher(s): Roosevelt Institute
Publication Date: January 26, 2022
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The Biden administration has pledged to put the US on the path to net-zero greenhouse gas emissions by 2050 and to limit warming to well below 2°C in line with the Paris Agreement. In order to meet these goals, it is crucial that the price of carbon used by the federal government to design climate policy is consistent with that pledge.
This publication presents an alternative approach to determining the SCC that takes as given the objectives of the Paris Agreement and the Biden administration’s commitment to the US reaching net-zero emissions by 2050, and derives an SCC necessary to reach those goals.