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Note since the SCC studies, the Intergovernmental Panel on Climate Change Assessment
Report 4 (2007) concludes that the ‘best guess’ is 3°C, with a range from 2 to 4.5°C
Page 287 (chapter 13) of the Stern review quotes a marginal social cost for the baseline
of $85/tCO2—which is broadly equivalent to $310/tC—at least double the central illustrative
GES value of £70/tC, and cite that ‘cost of climate change is now expected to be larger than
many earlier studies suggest’.
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