The social cost of CO2 from the PAGE09 model
A new version of the PAGE integrated assessment model, PAGE09, is introduced. The most important scientific, impact, emission and adaptation inputs in the latest default version of the model, PAGE09 v1.7 are described. The scientific and economic impact results are presented for a business as usual (BAU) emissions scenario, and for a low emissions scenario which aims to have a 50% chance of keeping the rise in global mean temperatures below 2 degC. Today's mean social cost of CO2 is about $100 per tonne of CO2 in the BAU scenario, and about $50 per tonne in the low emissions scenario. The major influences on the SCCO2 are found to be the transient climate response, the pure time preference rate, the elasticity of the marginal utility of consumption, the feedback response time of the earth and the weight on non-economic impacts. Less than 10% of the mean SCCO2 comes from impacts in annex 1 from annex 1 emissions, while over 45% comes from impacts in the rest of the world (RoW) from RoW emissions. About one third of the mean SCCO2 comes from impacts in the RoW caused by emissions in annex 1, while just over 10% comes from impacts in annex 1 caused by emissions in the RoW.
|Date of creation:||2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 431 8814-1
Fax: +49 431 8814528
Web page: http://www.economics-ejournal.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Anthoff, David & Hepburn, Cameron & Tol, Richard S.J., 2009.
"Equity weighting and the marginal damage costs of climate change,"
Elsevier, vol. 68(3), pages 836-849, January.
- David Anthoff & Cameron Hepburn & Richard S.J. Tol, 2006. "Equity weighting and the marginal damage costs of climate change," Working Papers FNU-121, Research unit Sustainability and Global Change, Hamburg University, revised Dec 2006.
- David Anthoff & Cameron Hepburn & Richard S.J. Tol, 2007. "Equity Weighting and the Marginal Damage Costs of Climate Change," Working Papers 2007.43, Fondazione Eni Enrico Mattei.
- Kelly de Bruin & Rob Dellink & Shardul Agrawala, 2009. "Economic Aspects of Adaptation to Climate Change: Integrated Assessment Modelling of Adaptation Costs and Benefits," OECD Environment Working Papers 6, OECD Publishing.
- Ackerman, Frank & Stanton, Elizabeth A. & Hope, Chris & Alberth, Stephane, 2009. "Did the Stern Review underestimate US and global climate damages?," Energy Policy, Elsevier, vol. 37(7), pages 2717-2721, July.
- Hope, Chris, 2008. "Discount rates, equity weights and the social cost of carbon," Energy Economics, Elsevier, vol. 30(3), pages 1011-1019, May.
- Detlef Vuuren & Jason Lowe & Elke Stehfest & Laila Gohar & Andries Hof & Chris Hope & Rachel Warren & Malte Meinshausen & Gian-Kasper Plattner, 2011. "How well do integrated assessment models simulate climate change?," Climatic Change, Springer, vol. 104(2), pages 255-285, January.
When requesting a correction, please mention this item's handle: RePEc:zbw:ifwedp:201139. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.