Carbon: trying to put a price on the unpriceable

Schoon, Nicholas
August 2009
ENDS (Environmental Data Services);Aug2009, Issue 415, p32
The article discusses the price being pegged by Great Britain's government on emitted carbon and the resulting economic damage using cost-benefit analysis for policymaking. Although the government has reportedly set the price of carbon at 26.50 British pounds per emitted tonne, it admits that the long term damages of climate change would be difficult to quantify. Also noted are the marginal abatement cost curve (MACC), the government estimated carbon price and the new approach for carbon price based on targets for carbon reduction. INSET: WHY IS IT SO HARD TO PRICE THE DAMAGE DONE BY CARBON?.


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