New Study: Country-level social cost of carbon
There is a cost to society for each ton of carbon released into the atmosphere. Perhaps it’s costs caused by extreme weather, failed costs, insurance claims, low productivity of workers among others. Known as the “social cost of carbon” the effects of climate-change related economic impacts are shown to be the greatest for the world’s biggest carbon emitters. Using multiple future climate simulations researchers found that based on 2017 emissions the entire global economy is impacted to the tune of 16 trillion dollars (USD) – that’s twice the level of previous estimates. The map shows each country’s median social cost of carbon in US Dollars per ton of carbon dioxide. It makes worrying reading for politicians and bankers alike.