A new report recommends updating the 'social cost' of carbon calculation
A report from some of the top minds in environmental policy and economics is recommending a new way of evaluating the "social costs" of carbon pollution to keep up with the best available science. The social cost of carbon is an economic model that attempts to quantify the economic and social costs of climate change and the benefits of cutting emissions. It tries to calculate a dollar value associated with emitting or eliminating a single ton of carbon dioxide, a pollutant associated with burning fossil fuels.
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