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the first scenario, the countries of the OECD implement a uniform carbon tax such that the net present value (NPV) of the abatement cost equals $2 trillion, the NPV of $250 billion per year for ten years. The discount rate is 5% per year. Costs are discounted to 2009. This is achieved by a carbon tax of $700/tC, starting in 2010 and rising with the
... See moreBjørn Lomborg • Smart Solutions to Climate Change: Comparing Costs and Benefits
Appendix: the FUND Model
Bjørn Lomborg • Smart Solutions to Climate Change: Comparing Costs and Benefits
Prioritizing Development: A Cost Benefit Analysis of the United Nations' Sustainable Development Goals
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Substantial reduction of carbon emissions thus requires a carbon tax of at least $50/tC – which is just barely justifiable at the mean estimate for a pure rate of time preference of 3%.
Bjørn Lomborg • Smart Solutions to Climate Change: Comparing Costs and Benefits
policy-driven adaptation should be planned on the basis of climate change damages net of market adjustments.