Costs of climate change far surpass government estimates, study says

Nick Loris was quoted in The Washington Post’s reporting on the social cost of carbon.

“Nick Loris, vice president of public policy at the Conservative Coalition for Climate Solutions, or C3 Solutions, has raised a more nuanced set of concerns.

‘I do believe there’s a social cost of carbon and that increased carbon in the atmosphere increases costs to the economy and our ecology and the planet, and those damages will likely get worse in the future if we don’t mitigate emissions,’ Loris said. He also said the team behind Thursday’s paper is rigorous and credible.

But the problem, he said, is that even peer-reviewed academic literature contains a range of different estimates for the true costs, depending on assumptions and methodologies and the possibilities of wild swings in policy between administration risks creating uncertainty among regulated industries.

It’s important to analyze the potential future economic damages posed by a warming planet and a worthwhile data point for policymakers and regulators, Loris said. But, he added, ‘it can’t be relied on as the singular number to justify a regulation or policy action.'”

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