The social cost of carbon (SCC), commonly referred to as the carbon price, is the monetized damage from emitting one unit of CO2 to the atmosphere. The SCC is typically obtained from large-scale computational Integrated Assessment Models (IAMs) that consolidate interdisciplinary climate research...

Classical forest economics posits an optimal sequence of constant rotations. Projected variation of discount rate changes optimal rotation through time, as does projected relative price change for multiple products. These factors greatly increase the difficulty of calculating NPV of...

This paper describes an integrated assessment model for the long term evaluation of policy options. When concerned with global warming issues, the assessment of policy options should deal with the interactions between energy, the economy, the environment and climate changes. We developed an...

Taking climate change as an example, this paper provides new insights on the optimal provision of a long-term public good within and across generations. We write the Bowen–Lindhal–Samuelson (BLS) conditions for the optimal provision of the public good in a world divided into N...

The objectives of this study were to carry out a review of mitigation scenarios that have emerged since the Intergovernmental Panel on Climate Change (IPCC) Third Assessment Report (TAR), to update the current Emissions Scenarios Database with these scenarios, and to analyze emissions and...

The realm of literature specifically dealing with the climate change problem has rapidly widened during the past decade. In this paper, we review scenarios aiming at emissions mitigation including stabilization of GHG emissions or concentrations in the atmosphere incorporated in integrated...

Transitioning to a low-carbon economy will require significant investment to transform energy systems, alter the built environment and adapt infrastructure. A strategy to finance this investment is needed if the limit of a 2°C increase in global mean temperatures is to be respected. Also,...

The implementation of mitigation policies will be complicated by several real-world imperfections ("second-best conditions") and constraints typically not included in the more idealized economies assumed in Integrated Assessment Models (IAMs), based on which such policies are derived. But which...

This paper analyzes the results of the climate-energy-economy model, Regionalized Model of Investment and Technological Development (REMIND), to assess the regional costs of climate-change mitigation for reaching the 2°C target with a medium to high likelihood. We assume that the global climate...