| dc.description.abstract | This research determined the Social Cost of Carbon (SCC) from the combined
module comprising permafrost infrastructure damage and carbon feedback under
climate change. Climate change is a crisis that requires international cooperation of
governments and corporations to reduce carbon emissions by including the cost of
carbon into the decision-making strategies. The study was performed using the
DICE-2016R integrated assessment model that incorporated emissions from the
merged element of permafrost carbon feedback and additional GHG from
permafrost infrastructure damage to estimate the SCC. The optimisation analysis
that maximized a social welfare function found that the SCC was higher by 6-24%
until 2100 than current predictions due to the combined effect of permafrost and
infrastructure damages, contributing to an extra 110 trillion US dollars by the year
2200. The research showed that current SCC values are underestimated, leading to
a lack of green innovation to reduce emissions and tackle climate change. We
propose to include the permafrost and infrastructure module in future integrated
assessment models and to set the higher SCC and increase it over time for
policymakers and businesses to foster clean technologies and mitigate future
climate damages.
Keywords: Social Cost of Carbon, climate change, permafrost,
infrastructure. | |
