2018 Departmental Lectures
Why Do We Need a Social Cost of Carbon?
Maureen Cropper, Distinguished Professor and Chair of Economics, University of Maryland
11:30 am - 12:30 pm, Tuesday, February 27
Stahr Auditorium, Stager Hall
One approach to climate policy is to specify a maximum allowable increase in mean global temperature and then determine a path of carbon emissions that will satisfy that target. This approach, adopted by the High-Level Commission on Carbon Prices, suggests that carbon should be priced to achieve a temperature-based emissions target. In the United States emphasis has been put on estimating the Social Cost of Carbon - the damages associated with emitting an additional ton of carbon dioxide. Dr. Cropper's talk will focus on why we should calculate a Social Cost of Carbon (SCC), on the role it should play in clamate policy, and on recent progress in estimating the SCC.