May 07, 2007
The world's top global warming body concluded in Bangkok last week that disaster can be averted with charges of $50 to $100 per ton of emitted CO2. CGD senior fellow David Wheeler notes that the mid-point is almost identical to the social cost of carbon ($77 per ton) estimated in the most extensive costing study of climate change. Given this convergence, Wheeler argues, it's time to estimate the bills for specific power companies. Drawing on new CGD data, he presents estimates for damages caused by the world's five biggest power-sector emitters. The dirtiest company, in South Africa, is causing $18 billion in annual damages. Others on the top-five dirtiest companies list are in the U.S. (two), China and India.
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