Vermont Climate Council Considers Adopting the Social Cost of Carbon
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Application
Economic analysis for creating Vermont's Climate Action Plan
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Date
August 2021 -
Details
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 .
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SCC Value(s)
$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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