Climate and Regional Economics of Development (CRED)
Climate and Regional Economics of Development (CRED) is an integrated assessment model focused on the global distribution of climate damages and climate policy costs. It is designed to estimate both the best pace of investment in mitigation and the best distribution of the cost of that investment to different regions of the world. The model takes into consideration that many developing countries are more exposed to climate impacts, and that poverty and inadequate infrastructure and services are major factors in vulnerability to climate change. CRED models utility maximization in an unequal, climate-constrained world.