Climate – Carbon

According to the University Corporation for Atmospheric Research (UCAR), "a gradual increase in carbon dioxide concentrations in Earth's atmosphere is helping to drive global warming, threatening to disrupt our planet's climate as average global temperatures gradually rise." Gradual but irrefutable; and ominous. As of 2020, a temperature rise of 1.02 degrees Celsius represented two-thirds of a journey toward the irreversible tipping point threshold of 1.5 degrees Celsius.

"The United States should establish a price on carbon. It must be fair, economy-wide, and effective in reducing emissions consistent with the Paris Agreement. This is the single most important step to manage climate risk and drive the appropriate allocation of capital." Managing Climate Risk in the U.S. Financial System

"Recommendations by those many people who take the economics of climate change seriously, that the global tax on greenhouse gas emissions should be in the range of US$40-80 per tonne, is in all probability a serious underestimate.  But when that is contrasted with the maximum tax rate of US$40 per tonne to be found anywhere, we see how far governments are from taking the economics of the biosphere seriously." - Annex 5.1 of The Economics of Biodiversity: The Dasgupta Review.

"The social cost of carbon is far higher than the US$20-40 per tonne of carbon dioxide implied by DICE (Dynamic Integrated model of Climate and the Economy), as high as US$200 per tonne.  The social cost of carbon is the loss in social well-being from a marginal increase in carbon emission.  The existence of tipping points (worse, a cascade of tipping points) lying in wait raises the cost of carbon, meaning that it raises the cost of inaction." - Section 5.4 of The Economics of Biodiversity: The Dasgupta Review."