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Policies, projections, and the social cost of carbon: Results from the DICE-2023 model.

Authors :
Barrage, Lint
Nordhaus, William
Source :
Proceedings of the National Academy of Sciences of the United States of America. 3/26/2024, Vol. 121 Issue 13, p1-8. 45p.
Publication Year :
2024

Abstract

The present study examines the assumptions, modeling structure, and results of DICE-2023, the revised Dynamic Integrated Model of Climate and the Economy (DICE), updated to 2023. The revision contains major changes in the treatment of risk, the carbon and climate modules, the treatment of nonindustrial greenhouse gases, discount rates, as well as updates on all the major components. Noteworthy changes are a significant reduction in the target for the optimal (cost-beneficial) temperature path, a lower cost of reaching the 2 °C target, an analysis of the impact of the Paris Accord, and a major increase in the estimated social cost of carbon. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
00278424
Volume :
121
Issue :
13
Database :
Academic Search Index
Journal :
Proceedings of the National Academy of Sciences of the United States of America
Publication Type :
Academic Journal
Accession number :
176568102
Full Text :
https://doi.org/10.1073/pnas.2312030121