July 17, 2023
Publication News: Exploring the Application of the Social Cost of Carbon in Loss-and-Damage and Impact Assessment
In this tribute to their friend and colleague, Dr. Meinhard Doelle, Adebayo Majekolagbe, Sara L. Seck, and David Wright bring together three strands of work they each undertook in collaboration with Meinhard: social cost of carbon, climate change loss and damage, and climate impact assessment.
The authors first introduce social cost of carbon estimates as a form of carbon valuation used in decision-making processes in Canada and the United States. They then introduce legal approaches to climate change loss and damage and related challenges of economic and non-economic valuation. After contemplating the potential for social cost of carbon to contribute to valuation of loss and damage, and vice versa, the authors examine the integration of climate change in impact assessment law. Ultimately, they tentatively consider whether application of the social cost of carbon for the valuation of loss and damage in impact assessment processes might help to centre justice concerns.
The article is available in Climate Law from Brill.