Improving the assessment and valuation of climate change impacts for policy and regulatory analysis

The social cost of carbon (SCC) is a monetized metric for evaluating the benefits associated with marginal reductions in carbon dioxide (CO2) emissions. It represents the expected welfare loss from the future damages caused by the release of one tonne of CO2 in a given year, expressed in consumption...

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Bibliographic Details
Published in:Climatic change 2013-04, Vol.117 (3), p.433-438
Main Authors: Marten, Alex L., Kopp, Robert E., Shouse, Kate C., Griffiths, Charles W., Hodson, Elke L., Kopits, Elizabeth, Mignone, Bryan K., Moore, Chris, Newbold, Steve C., Waldhoff, Stephanie, Wolverton, Ann
Format: Article
Language:English
Subjects:
Agricultural production
Atmospheric Sciences
Carbon cycle
Carbon dioxide
Climate change
Climate Change/Climate Change Impacts
Climatology. Bioclimatology. Climate change
Consumption
Discount rates
Earth and Environmental Science
Earth Sciences
Earth, ocean, space
Economic activity
Ecosystem services
Emissions
Environmental impact
Environmental policy
Environmental problems
Environmental protection
Estimates
Exact sciences and technology
External geophysics
Greenhouse effect
Health risks
Human ecology and demography
Meteorology
Sociology
Valuation
Workshops
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Summary:The social cost of carbon (SCC) is a monetized metric for evaluating the benefits associated with marginal reductions in carbon dioxide (CO2) emissions. It represents the expected welfare loss from the future damages caused by the release of one tonne of CO2 in a given year, expressed in consumption equivalent terms. It is intended to be a comprehensive measure, taking into account changes in agricultural productivity, human health risks, loss of ecosystem services and biodiversity, and the frequency and severity of flooding and storms.
ISSN:0165-0009
1573-1480
DOI:10.1007/s10584-012-0608-0