Climate economist Dr Chris Hope (Judge Business School, 90 Nobel Laureate University of Cambridge, UK) has estimated a damage-related Carbon Price of $200 per tonne CO2-equivalent (CO2-e) ( Chris Hope, “How high should climate change taxes be?”, Working Paper Series, Judge Business School, University of Cambridge, 9.2011: http://www.jbs.cam.ac.uk/fileadmin/user_upload/research/workingpapers/wp1109.pdf ).
Dr Chris Hope (Judge Business School, 90 Nobel Laureate University of Cambridge, UK) has estimated the damage-related cost of carbon pollution (2011): “If the best current scientific and economic evidence is to be believed, and climate change could be a real and serious problem , the appropriate response is to institute today a climate change tax equal to the mean estimate of the damage caused by a tonne of CO2 emissions . The raw calculations from the default PAGE09 model suggest the tax should be about $100 per tonne of CO2 in the EU. But correcting for the limited time horizon of the model , and bringing the calculations forward to 2102 [2012] , in year 2012 dollars , brings the suggested tax up to about $150 per tonne of CO2 . There are good arguments for setting the initial tax at about $250 per tonne of CO2 in the US , while starting off at a much lower level , may be $15 per tonne of CO2 ,in the poorest regions of the world ,all in the year 2012 , in year 2012 dollars. That such policy advice would not pass the laugh test, particularly in the US [and Australia], shows that the rhetoric about getting to grips with climate change has not been seriously thought through to its logical conclusion. As a result, rather than falling, greenhouse gas emissions are continuing to rose (Le Quere et al, 2009). A fiscally neutral significant climate change tax is the best chance we have of bringing the climate change problem under control” (Chris Hope, “How high should climate change taxes be?”, Working Paper Series, Judge Business School, University of Cambridge, 9.2011: http://www.jbs.cam.ac.uk/fileadmin/user_upload/research/workingpapers/wp1109.pdf ).