On paper, climate policy sounds simple: you put a price on carbon. Either you tax it, or you cap it and let firms trade. In practice, doing that for one of the world’s biggest economies — as the first mover — is anything but simple. This episode looks at 20 years of the EU Emissions Trading System (EU ETS): how it started, the challenges, the lessons, and where it’s going next. The ETS is the world’s first major carbon market, and it has helped drive CO₂ emissions in covered sectors down by m...
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On paper, climate policy sounds simple: you put a price on carbon. Either you tax it, or you cap it and let firms trade. In practice, doing that for one of the world’s biggest economies — as the first mover — is anything but simple. This episode looks at 20 years of the EU Emissions Trading System (EU ETS): how it started, the challenges, the lessons, and where it’s going next. The ETS is the world’s first major carbon market, and it has helped drive CO₂ emissions in covered sectors down by m...
#5 How Much Damage Are We Doing? Emissions, Carbon, and the Costs of Climate Change
Climate Economics with Arvid Viaene
13 minutes
3 months ago
#5 How Much Damage Are We Doing? Emissions, Carbon, and the Costs of Climate Change
A plain-English tour of how economists put a price on climate harm—the Social Cost of Carbon—and a quick way to estimate damages with just a few numbers. We start from 2023 anchors (≈4.7 tCO₂ per person; ≈38 GtCO₂ worldwide), explain SCC and how U.S. administrations have used very different values, and compare with recent EU carbon-permit prices. Using a €100/ton example, we translate emissions into ~€500 per person per year and ~3.8% of global GDP, then show how the result scales...
Climate Economics with Arvid Viaene
On paper, climate policy sounds simple: you put a price on carbon. Either you tax it, or you cap it and let firms trade. In practice, doing that for one of the world’s biggest economies — as the first mover — is anything but simple. This episode looks at 20 years of the EU Emissions Trading System (EU ETS): how it started, the challenges, the lessons, and where it’s going next. The ETS is the world’s first major carbon market, and it has helped drive CO₂ emissions in covered sectors down by m...
