3 years ago
Estimating the economic impact of climate change from weather
We do not know how much climate change will cost us. Yet that cost is the ‘externality’ missing from fossil fuel prices (Gollier 2021), which needs to be incorporated by either taxing or capping carbon emissions (as in the EU Emission Trading System). Plausible assumptions about that cost could justify carbon prices anywhere from a few dollars to hundreds of dollars per tonne.
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