11 Mar '16, 2pm

Government of Canada increases social cost of carbon estimates by about 30%:

Canada's interdepartmental working group recommended the adoption of the U.S. values in 2011, with a few minor adjustments. Instead of four different values, the group recommended two estimates using the same discount rate. The 3% discount rate selected is the central rate used in the U.S. and reflects the 3% social discount rate recommended by Canada's Treasury Board Secretariat Analysis Guide. The first estimate is the average central tendency estimate of the three models considered in U.S. SCC estimation (FUND, PAGE and DICE). The second estimate reflects lower probability, high-cost climate change impacts and is referred to as the 95th percentile of the SCC probability distribution. With the second estimate, the interdepartmental group recommended the exclusion of one of the models from the calculation, given that it does not include low-probability, high-cost impacts....

Full article: http://www.ec.gc.ca/cc/default.asp?lang=En&n=BE705779-1

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