U.S. Social Cost of Carbon: GAO approved
Posted September 3, 2014
This blog was originally published at the Cost of Carbon Pollution project here.
The U.S. social cost of carbon (SCC)—the set of calculations estimating that a ton of carbon dioxide emitted today causes about $40 worth of damages to human health, ecosystems, and the economy—now comes with a stamp of approval from the U.S. Governmental Accountability Office (GAO).
At the behest of Senator David Vitter and several other Congressional Republicans, the non-partisan watchdog group was tasked with investigating the SCC and the process by which it was calculated, after a 2013 update increased the official SCC by approximately 50%. The SCC was first estimated in 2010 by the Interagency Working Groups (IWG), consisting of several executive agencies and cabinet offices (see the GAO report for a list).
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