Extended Data Table 3 The partial social cost of carbon for four different constant discount rates, plus Ramsey discounting, and two emissions trajectories, all for incomes under the SSP3 scenario

From: Impacts of climate change on global agriculture accounting for adaptation

  1. Interquartile ranges of the partial SCC are calculated over both economic and climate uncertainty and shown in square brackets; 95% confidence intervals over this uncertainty are shown in parentheses. Markets are defined as countries (small countries are grouped with their largest agricultural trading partners), supply and demand elasticities are 0.1 and −0.04, staple expenditures are top-coded at ag_share_GDP + 10%, CO2 fertilization is included. ‘Varietal switching’ holds each country’s baseline calorie mix between crops, as well as where crops are grown fixed into the future, and assumes trade is frictionless within market and zero between markets. ‘+ Flexible production and trade’ includes varietal switching but also allows for international trade and also allows producers to switch crops and change the locations in which crops are grown. Ramsey discounting has a pure rate of time preference of 0 and elasticity of intertemporal substitution of 2 (ref. 47). Ramsey partial SCCs reported are for the IIASA future income trajectory; corresponding values for the OECD trajectory are very similar (Methods). Variations in key parameters are shown in Supplementary Table 13. See Supplementary Information Section K for details.
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