Journal
PROCEEDINGS OF THE NATIONAL ACADEMY OF SCIENCES OF THE UNITED STATES OF AMERICA
Volume 114, Issue 7, Pages 1518-1523Publisher
NATL ACAD SCIENCES
DOI: 10.1073/pnas.1609244114
Keywords
social cost carbon; climate change; economics; DICE model
Categories
Funding
- US National Science Foundation [GEO-1240507]
- US Department of Energy [DE-SC0005171-001]
- Directorate For Geosciences [1240507] Funding Source: National Science Foundation
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The social cost of carbon (SCC) is a central concept for understanding and implementing climate change policies. This term represents the economic cost caused by an additional ton of carbon dioxide emissions or its equivalent. The present study presents updated estimates based on a revised DICE model (Dynamic Integrated model of Climate and the Economy). The study estimates that the SCC is $31 per ton of CO2 in 2010 US$ for the current period (2015). For the central case, the real SCC grows at 3% per year over the period to 2050. The paper also compares the estimates with those from other sources.
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