Exploring the Application of the Social Cost of Carbon in Loss-and-Damage and Impact Assessment

Abstract

In this tribute to our friend and colleague, Dr Meinhard Doelle, we bring together three strands of work that we each undertook in collaboration with Meinhard: social cost of carbon, climate change loss and damage, and climate impact assessment. We first introduce social cost of carbon estimates as a form of carbon valuation used in decision-making processes in Canada and the United States. We 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, we examine the integration of climate change in impact assessment law. Ultimately, we 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. In conclusion, we pose questions for future research.