No Credit Unless You Show Your Work: How Judges Can Stop the Gaming of Climate Change Discount Rates in Federal Rulemaking
Introduction How should the federal government balance costs today against benefits a century from now? The question sounds highly abstract and philosophical, but federal agencies must distill the answer into one number: a discount rate. The number selected by federal agencies and subject to review by federal judges may determine the future habitability of Earth. Federal agencies making the rules relating to climate change face that daunting reality. The most important variable in modeling damages from climate change is the discount rate, the rate by Continue reading →