The social cost of carbon: valuing inequality, risk, and population for climate policy

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The social cost of carbon: valuing inequality, risk, and population for climate policy

Fleurbaey, Marc; Ferranna, Maddalena; Budolfson, Mark; Dennig, Francis; Mintz-Woo, Kian; Socolow, Robert; Spears, Dean; Zuber, Stéphane
Date: 2018-12-20
Copyright: © The Author(s) 2018. Published by Oxford University Press on behalf of the The Hegeler Institute. This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommon-s.org/licenses/by-nc/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited. For commercial re-use, please contact journals.permissions@oup.com
Copyright information: http://creativecommons.org/licenses/by-nc/4.0/
Related: https://academic.oup.com/monist/article/102/1/84/5255707
Citation: Fleurbaey, M., Ferranna, M., Budolfson, M., Dennig, F., Mintz-Woo, K., Socolow, R., Spears, D. and Zuber, S. (2018) 'The Social Cost of Carbon: Valuing Inequality, Risk, and Population for Climate Policy', The Monist, 102(1), pp. 84-109. doi: 10.1093/monist/ony023
Published Version: 10.1093/monist/ony023

Abstract:

We analyze the role of ethical values in the determination of the social cost of carbon, arguing that the familiar debate about discounting is too narrow. Other ethical issues are equally important to computing the social cost of carbon, and we highlight inequality, risk, and population ethics. Although the usual approach, in the economics of cost-benefit analysis for climate policy, is confined to a utilitarian axiology, the methodology of the social cost of carbon is rather flexible and can be expanded to a broader set of social-welfare approaches.

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© The Author(s) 2018. Published by Oxford University Press on behalf of the The Hegeler Institute. This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommon-s.org/licenses/by-nc/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited. For commercial re-use, please contact journals.permissions@oup.com Except where otherwise noted, this item's license is described as © The Author(s) 2018. Published by Oxford University Press on behalf of the The Hegeler Institute. This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommon-s.org/licenses/by-nc/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited. For commercial re-use, please contact journals.permissions@oup.com
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