New carbon price focuses on results you want, not impacts you don?t

For net-zero targets of 2040, 2050, and 2060 using simple linear pathways, they use an energy-economy model to calculate carbon prices. In making their estimates, they include additional climate policies beyond the price of carbon, like energy efficiency gains, air pollution regulations that push coal plants into retirement, and subsidies for technology like electric vehicles.To reach net zero emissions in 2050, the model estimates a carbon price of $34-64 per ton of CO2 is required in 2025, rising to $77-124 per ton in 2030. While oil prices are hard to predict, a carbon pricing policy would likely come bundled with other policy measures, and the carbon price could be calculated based on that bundle.The price could easily be updated over time, as well, limiting the need for long-term prognostication—hence the “near-term” in “near-term to net zero.” The researchers’ pitch is really about ease of use for policymakers: rather than sifting through piles of scientific studies evaluating esoteric variables, the knobs that dial in this price are pretty easy to grok.Once a plain-language policy goal has been chosen—like the net-zero emissions in 2050 target, which is consistent with limiting global warming to 1.5°C—the remaining variables to consider are fairly intuitive and easy to update. Models can then estimate the CO2 prices for cost-effective reductions in the near term, when their projections are most useful, with the understanding that policy details can be updated as uncertainties are resolved.”Many recent policies and policy proposals in the US (including corporate pledges) have embraced a "net zero by 2050" framework.