September 16th, 2014
Climate change is expected to make wildfires more frequent and intense, with new areas facing wildfire risk. This could take a serious toll on the U.S. economy by expanding the area that wildfires burn 50 percent by 2050—and raising projected damages by tens of billions of dollars a year. This report surveys the scientific and economic literature on wildfires and climate change, and provides the first estimate of the future economic costs of wildfires that will be magnified by climate change. Currently these costs are omitted from the government’s social cost of carbon estimate. Flammable Planet lays the groundwork for the future inclusion of wildfire costs in the models that underlie the social cost of carbon.
March 13th, 2014
Fires, flooding, and infectious diseases are some of the risks of a warming climate, and they would cost trillions of dollars to deal with. When carbon-reducing regulations are considered, $37 per ton is used to account for the public costs of rising temperatures. But too many serious risks of climate change have not yet been included in the government’s estimate. Omitted Damages: What’s Missing from the Social Cost of Carbon reviews cutting edge scientific and economic research to determine which serious climate effects are not properly incorporated into the “social cost of carbon” estimates.