RFF-Berkeley Greenhouse Gas Impact Value Estimator (GIVE) Model
This integrated assessment model for estimating the Social Cost of Carbon has been developed as part of a multiyear effort by researchers at RFF, UC-Berkeley, and eight other leading institutions.
About the Model
RFF in conjunction with scholars at Berkeley have developed an open-source software platform that provides software tools and infrastructure to facilitate development, modification, and inter-comparison of integrated assessment models (IAMs). This platform, referred to as the Mimi framework, is specifically intended to provide the foundation for the scientific community’s improvement of estimates of the social cost of carbon estimates for the future. The capabilities provided by the framework, however, including the ability to construct and adapt models from pre-existing, open-source software “modules” provided by the community of users, have much broader application for integrated assessment modeling beyond estimation of the social cost of carbon.
At present, the Mimi framework currently provides the full set of functionality required for estimating the social cost of carbon, including native methods for estimating uncertainty from the estimates, and implements the near-term recommendations from the National Academy of Sciences to improve the transparency of estimates of the social cost of carbon. We have leveraged this framework to build the Greenhouse Gas Impact Value Estimator (GIVE) model, a new integrated assessment model that incorporated recent scientific advances that explicitly accounts for uncertainties in key model inputs including socioeconomic and emissions projections, the climate system, damage functions, and discount rates.
The Mimi framework has been used by the US Environmental Protection Agency in its formal rulemaking process to estimate of the social cost of hydrofluorocarbons for use in federal government benefit-cost analysis.
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Journal Article — Aug 15, 2024
Equity Weighting Increases the Social Cost of Carbon
This article finds that using an “income weighting” approach would increase the social cost of carbon by a factor of eight by placing greater emphasis on climate’s impacts on the global poor.
Working Paper — Oct 23, 2023
Disentangling the Roles of Growth Uncertainty, Discounting, and the Climate Beta on the Social Cost of Carbon
This working paper clarifies the conceptual effect of uncertainty in future economic growth on the social cost of carbon.
Media Highlight — Oct 16, 2023
Carbon Pulse: “Meeting Paris Agreement Goals Can Yield over $600 Trillion in Economic Benefits, Report Says”
This article details the findings of a new RFF issue brief that details the avoided climate damages associated with meeting Paris Agreement goals.
Issue Brief — Oct 16, 2023
The Economic Benefits of Achieving the Paris Agreement Goals
In this issue brief, RFF researchers estimate the global economic benefits of limiting temperature rise to the Paris Agreement targets of 1.5°C and “well below” 2°C above preindustrial levels.
Journal Article — Aug 15, 2024
Equity Weighting Increases the Social Cost of Carbon
This article finds that using an “income weighting” approach would increase the social cost of carbon by a factor of eight by placing greater emphasis on climate’s impacts on the global poor.
Working Paper — Oct 23, 2023
Disentangling the Roles of Growth Uncertainty, Discounting, and the Climate Beta on the Social Cost of Carbon
This working paper clarifies the conceptual effect of uncertainty in future economic growth on the social cost of carbon.
Issue Brief — Oct 16, 2023
The Economic Benefits of Achieving the Paris Agreement Goals
In this issue brief, RFF researchers estimate the global economic benefits of limiting temperature rise to the Paris Agreement targets of 1.5°C and “well below” 2°C above preindustrial levels.
