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Quantifying Climate Change Loss and Damage Consistent with a Social Cost of Greenhouse Gases | NBER

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Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate climate impacts with specific emissions, including in recent international policy discussion of Loss and Damage (L&D). However, no quantitative definition of L&D exists, nor does there exist a framework for linking specific emissions to specific damages. Here we develop such a framework, linking it explicitly to recent efforts to calculate the social cost of carbon dioxide (SC-CO2), and demonstrate its use in a variety of applications. We calculate that future damages from past emissions, one component of L&D, are at least an order of magnitude larger than historical damages from the same emissions, a more commonly discussed component of L&D: 1 ton of CO2 emitted in 1990 causes $4 in global cumulative discounted damages by 2020 and an additional $327 in discounted damages through 2100 (2% discount rate). These estimates of past and future damages from marginal emissions

Quantifying Climate Change Loss and Damage Consistent with a Social Cost of Greenhouse Gases | NBER Skip to main content Quantifying Climate Change Loss and Damage Consistent with a Social Cost of Greenhouse Gases Marshall Burke , Mustafa Zahid , Noah Diffenbaugh & Solomon M. Hsiang Share X LinkedIn Facebook Bluesky Threads Email Link Working Paper 31658 DOI 10.3386/w31658 Issue Date September 2023 Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate climate impacts with specific emissions, including in recent international polic

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