New York Department of Environmental Conservation Updates Climate-Damage Valuations to Include SF6 and HFC-236fa
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Application
For use by state agencies, in particular to “help[] estimate the benefit of actions taken to reduce emissions to help State agencies make decisions to reduce carbon dioxide and other greenhouse gases.”
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Date
August 2023 -
Details
In 2020, the New York Department of Environmental Conservation issued social cost valuations for carbon dioxide, methane, and nitrous oxide. Though based in large part on the federal Interagency Working Group’s climate-damage methodology, New York’s valuations applied a central discount rate of 2%. Subsequently, New York added various climate-damage estimates for several hydrofluorocarbons, or HFCs.
In this 2023 update, New York adopts climate-damage valuations for the potent greenhouse gases sulfur hexafluoride (SF6) and HFC-236fa. These values, which also apply a central discount rate of 2%, are “the highest values compared to other greenhouse gasses per ton due to their long-lasting and high-impact nature.”
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SCC Value(s)
Central estimate of approximately $4.48 million/metric ton for SF6 (for 2020 emissions) at a central 2% discount rate. Central estimate of approximately $1.6 million/metric ton for HFC-236a using a central 2% discount rate.
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