Which of the following statements best describes the term ‘Social Cost of Carbon’?
It is a measure, in monetary value, of the
[UPSC Civil Services Exam – 2020 Prelims]
(a) long-term damage done by a tonne of CO2 emissions in a given year.
(b) requirement of fossil fuels for a country to provide goods and services to its citizens, based on the burning of those fuels.
(c) efforts put in by a climate refugee to adapt to live in a new place.
(d) contribution of an individual person to the carbon footprint on the planet Earth.
- The social cost of carbon (SCC) is an estimate of the cost, in dollars, of the damage done by each additional ton of carbon emissions.
- It also is an estimate of the benefit of any action taken to reduce a ton of carbon emissions.