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The CRED v.1.4 Technical Report describes the methodology of the Climate and Regional Economics of Development (CRED) model, an integrated assessment model designed to estimate the optimal pace and distribution of global investment in emissions mitigation and climate policy costs.

This research paper analyzes the treatment of climate damages within the FUND model, specifically focusing on its agricultural projections and the technical validity of its temperature-yield equations.

The CRED V.1.3 Technical Report describes the methodology of the Climate and Regional Economics of Development (CRED) model, an integrated assessment model designed to estimate the optimal pace of climate mitigation investment and its global cost distribution. Version 1.3, completed in June 2011, focuses on the distribution of climate damages and policy costs across nine global regions to inform international climate negotiations.

This research paper analyzes the FUND model of climate economics, finding that its low Social Cost of Carbon (SCC) estimate of $6 is largely driven by an overestimation of agricultural benefits from CO2 fertilization and temperature increases. The authors identify several technical flaws, including a potential division-by-zero error in the optimum temperature equation and the use of implausible temperature ranges in Monte Carlo simulations. They argue that FUND relies on outdated research from the 1990s and suggest that updating the model with recent empirical data on crop yields and CO2 fertilization would significantly increase the SCC estimate.