Social Cost of Carbon

The Social Cost of Carbon (SCC) is a metric used to estimate the economic damage caused by emitting one additional ton of carbon dioxide into the atmosphere. It reflects the long-term impacts on health, agriculture, property, and the environment due to climate change. By assigning a dollar value to these damages, policymakers can gauge the benefits of reducing carbon emissions and make informed decisions about environmental regulations and climate policies. Essentially, the SCC helps society understand the true cost of carbon pollution and justify initiatives aimed at reducing greenhouse gas emissions.