Climate change is an enormously complex, multidimensional problem that mixes together science, law, economics, technological advancement, and, recently, security interests in a manner that few other global problems do. The scientific study of climate change has spurred a massive international research effort that has pushed back the boundaries of knowledge about the behavior of, and influences on, the earth system. Successive reports of the Intergovernmental Panel on Climate Change have brought more evidence of human-induced climate change, with the most recent report concluding that warming is unequivocal and that human activities are the dominant cause. Yet the interaction between science and public policy is far from the linear relationship of warning of a grave threat from an authoritative source, followed by an appropriate and timely response. While it provides an authoritative description of the problem and outlines the parameters for a solution, a scientific consensus alone is insufficient to bring about changes in society. In contrast to natural scientists, economists have remained more divided on the costs and benefits of taking early action. Overall, a failure to adequately consider the assumptions underpinning economic analyses of climate change may contribute to obscuring crucial ethical and value choices. Ultimately, our welfare is dependent on the natural system, a reality that is only imperfectly incorporated into our decision-making frameworks. In this context, open articulation of the fairness dimensions can enrich, contextualize, and complement insights gained from economics, international relations, and other modes of policy analysis.