Using and Improving the Social Cost of Carbon

In an article in Science, faculty fellow William Pizer and Environmental Economics Program director Brian Murray, along with other researchers, argue that the United States should adopt a standardized process to regularly evaluate the social cost of carbon (SCC), an estimate of the per-metric-ton dollar value of reducing climate change damages—a metric used in regulatory analysis. They say that a regularly monitored process for gauging the SCC is critical not only for domestic policy making but also for international climate negotiations.

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