Assessing Approaches to Updating the Social Cost of Carbon – Public Meeting Nov. 13
The social cost of carbon (SCC) is an estimate, in dollars, of the long-term damage caused by a 1-ton increase in carbon dioxide emissions in a given year. It is intended to be a comprehensive estimate of the costs associated with climate change such as changes in net agricultural productivity, risks to human health, and property damage from increased flood risks. Federal agencies use the SCC to place a value on the carbon dioxide impacts of various regulations, including standards for vehicle emissions and fuel economy, air pollutants from industrial manufacturing, and emissions from power plants and solid waste incineration.
A committee of the National Academies of Sciences, Engineering, and Medicine is reviewing the latest research on modeling the economic aspects of climate change to inform future revisions to the SCC estimates used in regulatory impact analyses. The committee will hold a public meeting consisting of two sessions, the first of which will focus on a review of the damage components for existing integrated assessment models (IAMs) and areas of potential research. Panelists in the second session will discuss the current state of evidence, options for integration into the IAMs, and areas of future research.
The topics covered in this public meeting are part of phase two of the committee's study, which will examine potential approaches, along with their relative advantages and challenges, for a longer-term, comprehensive update to the SCC estimates to ensure they continue to reflect the best available science.
The meeting will be held from noon to 5:45 p.m. EST on Friday, Nov. 13, in the Capitol Room of Venable LLP Conference Center, 575 Seventh St. N.W., Washington, D.C. Reporters who would like to attend or have inquiries should contact the Academies’ news office; tel. 202-334-2138 or e-mail firstname.lastname@example.org. Those who cannot attend in person may watch via webcast. More information on the study – including the meeting agenda, committee roster, and statement of task – is available online.