Valuing Climate Damages: Updating Estimation of the Social Cost of Carbon Dioxide

Ebook Details


Engineering, and Medicine National Academies of Sciences, Division of Behavioral and Social Sciences and Education

Year 2017
Pages 280
Publisher National Academies Press
Language en
ISBN 9780309454209
File Size 4.88 MB
File Format PDF
Download Counter 105
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Ebook Description

The social cost of carbon (SC-CO2) is an economic metric intended to provide a comprehensive estimate of the net damages - that is, the monetized value of the net impacts, both negative and positive - from the global climate change that results from a small (1-metric ton) increase in carbon-dioxide (CO2) emissions. Under Executive Orders regarding regulatory impact analysis and as required by a court ruling, the U.S. government has since 2008 used estimates of the SC-CO2 in federal rulemakings to value the costs and benefits associated with changes in CO2 emissions. In 2010, the Interagency Working Group on the Social Cost of Greenhouse Gases (IWG) developed a methodology for estimating the SC-CO2 across a range of assumptions about future socioeconomic and physical earth systems.