Policy paper

Carbon valuation in UK policy appraisal: a revised approach

A revised approach to valuing carbon in policy appraisal; peer reviews and a government response are included.

This was published under the 2005 to 2010 Labour government

Documents

Carbon valuation in UK policy appraisal: a revised approach

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Peer review: Paul Johnson

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Peer review: Paul Ekins

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Peer review: Paul Watkiss

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Peer review: Paul Watkiss

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Peer review: Kirk Hamilton

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Peer review: Frank Ackerman

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Peer review: Dieter Helm

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Peer review: Andrew Sentance

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Response to the Carbon Valuation Peer Reviews

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Details

The old approach based on estimates of the social cost of carbon should be replaced with a target-consistent approach, based on estimates of the abatement costs that will need to be incurred to meet specific emissions reduction targets.

The change will have the effect of helping to ensure that the policies the government develops are consistent with the emissions reductions targets that the UK has adopted through carbon budgets, and also at an EU and UN level.

Published 31 July 2009