18 January 2021 0 7K Report

General circulation models (GCMs) represent the physical 'climate' systems. Integrated assessment models (IAMs) incorporate interactions with social systems. Some carbon economists suggest that the social cost of carbon can be negative, meaning that carbon emissions are beneficial. This seems to contrary to thoughts on carbon emissions reduction but could be valid in some anthropocentric economic models. What modeling approach with pros and cons would you suggest to evaluate the social cost of carbon?

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