Valuing Climate Damages

The Institute for Policy Integrity is a non-partisan think tank dedicated to improving the quality of governmental decisionmaking. We produce original scholarly research in the fields of economics, law, and regulatory policy. We also advocate for reform before courts, legislatures, and executive agencies.

Institute for Policy Integrity at NYU School of Law

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<H3>On September 13, the <A HREF="http://policyintegrity.org/" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Institute for Policy Integrity</A> will host a panel discussion in San Francisco that will look at how countries, states, and companies are using climate damage estimates to inform their decisionmaking. Decisionmakers from all of these sectors will discuss the lessons they have learned from using various climate damage estimates, and their plans for how to carry these estimates forward into the future.</H3>
<H3><STRONG>*****Lunch will be provided.*****</STRONG></H3>
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<H2>---PANELISTS---</H2>
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<H3><STRONG>Karine Hertzberg</STRONG>, Counselor for Climate and Environment at Norway’s Embassy to the United States</H3>
<H3><STRONG>Trevor Houser</STRONG>, Partner, Rhodium Group and Co-Director, Climate Impact Lab</H3>
<H3><STRONG>Kevin Rennert, </STRONG>Fellow and Director, Social Cost of Carbon Initiative at Resources for the Future</H3>
<H3><STRONG>Emily Wimberger</STRONG>, Chief Economist, California Air Resources Board</H3>
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<H3 CLASS="MsoNormal">This panel is a <A HREF="https://globalclimateactionsummit.org/about-the-summit/" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Global Climate Action Summit</A> affiliate event.</H3>
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<H2>Background</H2>
<H3>Scientists, economists, and government officials have worked together to develop estimates of the costs to society of each additional ton of greenhouse gas emissions. Decisionmakers have, in turn, used these estimates to craft rules and policies, value the benefits of clean energy resources, and assess the environmental effects of proposed actions. Notably, between 2009 and 2016, the U.S. federal government’s Interagency Working Group on the Social Cost of Greenhouse Gases developed standardized estimates for use across federal government agencies. These estimates have been applied not only by the U.S. government, but also by Canada, Mexico, and a variety of state and local government agencies.</H3>
<H3>The Trump administration has created a new “interim” estimate that obscures the vast majority of these climate damages, and has used this value to justify deregulatory actions. As the U.S. federal government turns away from the science and economics underlying climate change, the baton has been passed to states and municipalities, businesses, and other groups that can help ensure that climate impact estimates continue to reflect the best available science and economics.</H3>
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Valuing Climate Damages

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