Climate Policies Deserve a Negative Discount Rate
We defend a methodology of discounting, for the evaluation of the long-term effects of climate policies, which relies on a social welfare objective, against the view that the market rate of return should be used for that purpose. We also show that in the long run, the discount rate for such policies should focus on the worst-case scenario for the most disadvantaged populations. As a consequence, it is likely that the appropriate discount rate for climate policies should be negative, implying a high priority for the future.
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|Date of creation:||Feb 2013|
|Publication status:||Published in Chicago Journal of International Law, The University of Chicago Law School, 2013, 13 (2), pp.565-595|
|Note:||View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01048583|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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