EPA Proposes Draft Updates for Social Cost of Greenhouse Gas Metrics

In November 2022, the U.S. Environmental Protection Agency (EPA) announced the release of draft updated values for the social cost of greenhouse gas metrics. These metrics, which quantify the expected economic damages caused by greenhouse gas emissions, are used to evaluate the costs and benefits of climate-related regulations and other policy decisions. The social cost of carbon’s central value was updated from $51-per-ton to $190 (for emissions in 2020), consistent with similar trends in the economics literature.

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