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Last week's summit between US President Trump and Chinese President Xi was the second meeting between the two leaders since the US and Israel attacked Iran.
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Global gas markets, especially in Europe, are approaching winter under serious pressure. With storage inventories lagging behind historical averages and shipping disruptions from the Middle East threatening key...
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Apply to Register The Center on Global Energy Policy at Columbia University SIPA’s Women in Energy initiative invites Columbia University students to a roundtable discussion with Pam Brown,...
External Publication 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 Nepal flood that has left 1,000 people dead and close to 4,000 people missing, as of September 1, has also damaged hydropower plants that the country relies on.
Why U.S. economic models must account for climate change and the clean energy transition to improve policymaking, forecasting, and public investment decisions.
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External Publication by Noah Kaufman & Peter Marsters • August 17, 2020