Zero Carbon Science to Zero Carbon Response 
Cost of carbon
Research News

​​Mar 2015 New models
​yield clearer picture of emissions' true costs

​​Jan 2015 Social cost of carbon is not $37, but $220.

​​June 2014 Grantham Inst. Endogenous growth, convexity of damages
and climate risk

June 2014 World Bank Climate-smart
​ development
: adding up the benefits of actions that help build prosperity, end poverty and combat
​ climate change​​

​April 2014
IPCC climate change report: averting catastrophe
is cheap. replace The cheapest and least risky route to dealing with global warming is to abandon all dirty fossil fuels

​April 2014 Science
Carbon Storage
in Basalt
The cost of carbon capture and storage is dominated by capture and gas separation, which costs $55-$112/ton CO2’. J Matter

2014 Stanford Counting the Costs of Climate Change  K. Arrow et al Department of Economics, Stanford University
The Cost of Carbon Pollution website The Cost of Carbon Project is a joint project of Environmental Defense Fund, the Institute for Policy Integrity, and Natural Resources Defense Council.

Carbon Tax Center website
April 2014 Nature Costs of carbon emissions are being underestimated, but current estimates are still valuable for setting mitigation policy, say Richard L. Revesz and colleagues. warming: Improve economic models of climate change Richard L. Revesz,
  • Fossil fuel energy has huge economic costs 
  • Mitigation of climate change has huge economic benefits -
    ​NOT A COST !​
The surest fastest way to de-carbonize
​is to terminate fossil fuel subsidies and
​charge ​large polluters the full ​cost of pollution, 

​a (carbon price or tax).

UNEP in 2015 reports (4th report The Coming Financial Climate) that the world financial system must be overhauled ​​in order to mitigate global climate chage and make the switch to sustainable development. (Climate News Net Article on the report)

​​In its 2015 energy subsidy review the IMF calculated world energy subsidies at over US$5 Trillion a year. In 2013 ​the IMF estimated world fossil fuel subsidies at US$1.9 Trillion a year, calling this an underestimate.  

2014 World Bank Smart Policies Deliver
​Economic, Health and Climate Benefits
​The large economic benefit.

​​​In 2014 the World Bank published a ground breaking report on climate smart economic development report, which found with careful design, development projects that improve communities, save lives, and increase GDP can also fight climate change.

The Grantham Economic Institute's 2014 economic study ​​Endogenous growth, convexity of damages and climate risk found that the current climate economic models result in 'gross under-assessment of the risks of unmanaged climate change'. This research finds that for the 2.0C limit in 2015 the carbon price would be $32-103 t.CO2 and increases in 2 decades to $82-260 t.CO2.

​The socio-environmental cost of carbon is at least ten times the estimates of governments and the IPCC AR5."We estimate that the social cost of carbon is not $37, as previously estimated, but $220," Moore and Diaz Stanford's School of Earth Sciences Jan 2015 Nature.

​PRICING CARBON VIDEO  The Wesleyan Conference November 2010

An excellent over view of the complicated way that our standard economics treats climate change The Economics of Global Climate Change 2009 
Global Development And Environment Institute Tufts University

2010 Stockholm Environment Institute, USA Social cost of carbon by Frank Ackerman and Elizabeth A. Stanton. ​Good background here and a good critique of the how computer models by experts greatly underestimate the cost and lowball carbon pricing. 

The 2006 UK government's commissioned Stern Commission Economics of Climate Change ​​remains is a leading published case for putting a price on carbon and the application of ethics in doing so. 
The Economic Imperative to Act An August 2015 a Citibank report show that mitigating climate change is the only economic option that makes sense.

The cost of  progressing to a low carbon economy at $190.2 trillion is cheaper than an ‘Inaction’ fossil fuel scenario at $192 trillion. Climate damage costs of  1.5°C by 2100 and our heading today of 4.5°C warming scenarios are $50 trillion. Even a 2.5°C warming costs $30 trillion less than a business-as-usual high global warming scenario.

​The IPCC 2014 AR5 has documented that global climate change will be extremely costly in economic terms.  Climate change will result in net costs into the future, aggregated across the globe and discounted to today; these costs will grow over time  They run from US$-10 to US$+350 per tonne of carbon. Peer-reviewed estimates have a mean value of US$43 per tonne of carbon with a standard deviation of US$83 per tonne IPCC AR4 WG2 

Even so IPCC AR5 misrepresented the cost benefit estimates badly. First the AR5 ignores the enormous economic benefit of rebuilding the world for zero carbon and it other benefits. It makes mitigation a cost and one that increases with time. This is economic nonsense. 

'​​...mitigation scenarios that reach atmospheric concentrations of about 450 ppm CO2eq by 2100 entail losses in global consumption—not including benefits of reduced climate change as well as co-benefits of 1 % to 4 % (median: 1.7 %) in 2030, 2 % to 6 % (median: 3.4 %) in 2050, and 3 % to 11 % (median: 4.8 %) in 2100 relative to consumption in baseline scenarios that grows anywhere from 300 % to more than 900 % over the century.' (IPCC AR5 WG3 SPM p. 15)

In ​​
2009 Canada's National Round Table on Environment and Economy issued a study ACHIEVING 2050:
finding that  research suggests that economy-wide carbon prices  will need to rise to $108 per tonne of CO2e by 2020 and upward of $300 per tonne of CO2e by 2050 to drive the behavioural change and technology deployment underlying the achievement of deep reductions.