Vermont Climate Council Considers Adopting the Social Cost of Carbon
Economic analysis for creating Vermont's Climate Action Plan
The Science and Data Subcommittee of the Vermont Climate Council issued Recommendations Regarding Social Cost of Carbon endorsing a technical report recommending that the Council use the social cost of carbon (SCC) in selecting mitigation and adaptation options for its upcoming Climate Action Plan for the state. 1 The Subcommittee and report authors recommend the global damage-based SCC value of $124/metric ton of CO2 with a discount rate of 2% used by New York State's Department of Environmental Conservation. A draft of the Climate Action Plan is expected to be released in December 2021. 2 .
$124/metric ton of CO2 with a discount rate of 2%. 3
- Vt. Climate Couns., Recommendations Regarding Social Cost of Carbon, https://aoa.vermont.gov/sites/aoa/files/Boards/VCC/SDSC%20SCC%20and%20CCR%20Recommendations_FINAL.pdf. ↩︎
- See https://climatechange.vermont.gov/wherearewegoing ↩︎
- Energy Futures Grp. Social Cost of Carbon and Cost of Carbon Model Review: Analyses and Recommendations to Support Vermont’s Climate Council and Climate Action Plan (Aug. 18, 2021), https://aoa.vermont.gov/sites/aoa/files/Boards/VCC/SCC%20and%20Cost%20of%20Carbon%208-17-21.pdf. ↩︎
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