Analysis of the uncertainty associated with the timing of climate tipping points suggests that carbon taxes need to be increased by a minimum of 50%. If considering a rapid, high-impact tipping event, these taxes should be more than 200% higher. This implies that the discount rate to delay stochastic tipping points is much lower than that for deterministic climate damages.
- Thomas S. Lontzek
- Yongyang Cai
- Timothy M. Lenton
