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.

Answer: (a)        

Explanation:

• 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.