Finding the real cost of climate change
How much does global warming really cost the world? Determining the Social Cost of Carbon helps put a actual dollar value on the climate damages per ton of CO2 released, and is used by — among others — policymakers to help determine the costs and benefits of climate policies. Remember, even on a global scale, the bottom line will always be profit. But now a group of economists and lawyers urge several improvements to the government’s Social Cost of Carbon figure that would impose a regular, transparent and peer-reviewed process to ensure the figure is reliable and well-supported by the latest facts.