New Report Finds Near-Term Update to Social Cost of Carbon Unwarranted

There would not be sufficient benefit to updating estimates of the social cost of carbon (SCC) within a year based only on the revision of a specific climate parameter in the existing framework used by the government's interagency group to measure the SCC, says a new interim report from the National Academies of Sciences, Engineering, and Medicine. The committee, which includes Billy Pizer, a faculty fellow of the Nicholas Institute and professor in the Sanford School, recommended ways to change federal technical support documents on the SCC to enhance the characterization of uncertainties associated with the estimates, including when used in regulatory impact analyses.

Read Full Article