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Congress is rushing to enact what could be the most significant energy policy reversal in decades. The US Senate has begun work on an enormous budget reconciliation bill...
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Join Powerless author and CGEP Co-Director of the Energy Opportunity Lab Diana Hernández and CGEP Founding Director Jason Bordoff for a special conversation co-hosted by CGEP and Resources for the Future (RFF) on the book's major findings.
External Publications by Noah Kaufman & Peter Marsters • August 17, 2020
The social cost of carbon (SCC) is commonly described and used as the optimal CO2 price. However, the wide range of SCC estimates provides limited practical assistance to policymakers setting specific CO2 prices. Here we describe an alternate near-term to net zero (NT2NZ) approach, estimating CO2 prices needed in the near term for consistency with a net-zero CO2 emissions target. This approach dovetails with the emissions-target-focused approach that frames climate policy discussions around the world, avoids uncertainties in estimates of climate damages and long-term decarbonization costs, offers transparency about sensitivities and enables the consideration of CO2 prices alongside a portfolio of policies. We estimate illustrative NT2NZ CO2 prices for the United States; for a 2050 net-zero CO2 emission target, prices are US$34 to US$64 per metric ton in 2025 and US$77 to US$124 in 2030. These results are most influenced by assumptions about complementary policies and oil prices.
The Climate Finance (CliF) Vulnerability Index is designed to provide a comprehensive understanding of climate vulnerability for nation states in order to improve the targeting and provision of climate change adaptation financing.
Energy abundance isn't a climate strategy—it delays clean energy progress, harms global cooperation, and repeats past policy mistakes.
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External Publications by Noah Kaufman & Peter Marsters • August 17, 2020