Researchers have calculated the Social Cost of Carbon (SCC) of tropical cyclones for the major economies of India, US, China, Taiwan, and Japan and found that it is so extreme that it stops economic development for more than 10 years.
Intense tropical cyclones and extreme weather events can significantly affect economic growth and increase greenhouse gas emissions, according to recent research. Read here.
Progress at COP28 on structuring carbon offset markets will be in the right direction; but the resulting prices might be too low for the future health of the planet.
The Supreme Court will not take up a lawsuit led by the state of Missouri that sought to block the Biden administration’s “social cost of carbon” measure. The court denied a writ of certiorari Tuesday in the case, Missouri v. Biden, without further explanation. In the case, 11 Republican-led states, guided by Missouri Attorney General Andrew…