Using and Improving the Social Cost of Carbon
Maureen Cropper, William Pizer, Matthew Adler, Joseph Aldy, David Anthoff, Kenneth Gillingham, Michael Greenstone, Brian Murray, Richard Newell, Richard Richels, Arden Rowell, Stephanie Waldhoff and Jonathan Wiener
,
6214
(
346
)
Science
1189-1190
December
2014
Abstract
The social cost of carbon (SCC) is a crucial tool for economic analysis of climate policies. The SCC estimates the dollar value of reduced climate change damages associated with a one-metric-ton reduction in carbon dioxide (CO2) emissions. Although the conceptual basis, challenges, and merits of the SCC are well established, its use in government cost-benefit analysis (CBA) is relatively new.
