caa a22 4500 467919003 CHVBK 20180406152911.0 cr unu---uuuuu 170328e20060501xx s 000 0 eng 10.1007/s10584-005-9018-x doi (NATIONALLICENCE)springer-10.1007/s10584-005-9018-x Davidson Marc Department of Philosophy, Faculty of Humanities, University of Amsterdam, Nieuwe Doelenstraat 15, 1012 CP, Amsterdam, Netherlands aut A Social Discount Rate for Climate Damage to Future Generations Based on Regulatory Law [Elektronische Daten] [Marc Davidson] This article examines the implications for the social discount rate for damage due to climate change if risk to future generations is handled in accordance with the laws regulating our handling of risk to contemporaries. The conclusions are the following. Under current law, neither geographic distance nor differences in wealth between risk creator and risk bearer play any part in establishing a standard of ‘reasonable care'. The concept of intergenerational justice requires these same principles to be applied in the intergenerational context too, implying a zero consumption rate of interest for climate damage. Assuming that the extent to which mitigation is at the expense of alternative investments is equal to society's marginal propensity to save, the social discount rate becomes society's marginal propensity to save times the long-term market rate of return on private investment, implying a social discount rate of around one per cent or a fraction of one per cent. This formula is exact under the assumption of average saving behaviour and by attributing consumption losses due to investment in damage prevention before damage occurs to the risk creator and after damage occurs to the risk bearer. Springer Science+Business Media, Inc., 2006 Climatic Change Springer Netherlands 76/1-2(2006-05-01), 55-72 0165-0009 76:1-2<55 2006 76 10584 https://doi.org/10.1007/s10584-005-9018-x text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10584-005-9018-x text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Davidson Marc Department of Philosophy, Faculty of Humanities, University of Amsterdam, Nieuwe Doelenstraat 15, 1012 CP, Amsterdam, Netherlands aut NATIONALLICENCE 773 0- Climatic Change Springer Netherlands 76/1-2(2006-05-01), 55-72 0165-0009 76:1-2<55 2006 76 10584 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer