Report Recommends New Framework for Estimating the Social Cost of Carbon

To estimate the social cost of carbon dioxide for use in regulatory impact analyses, the federal government should use a new framework that would strengthen the scientific basis, provide greater transparency, and improve characterization of the uncertainties of the estimates, says a new report by the National Academies of Sciences, Engineering, and Medicine. The report, which was put together by a committee that included Nicholas Institute faculty fellow Billy Pizer, also identifies a number of near- and longer-term improvements that should be made for calculating the social cost of carbon.

Read the Full Article