The Cost of Climate Pollution

Vermont Climate Council Considers Adopting the Social Cost of Carbon

tVermont Climate Policy Internal Guidance August 2021

• Application

  Economic analysis for creating Vermont's Climate Action Plan

• 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 . 

• SCC Value(s)

  $124/metric ton of CO2 with a discount rate of 2%. 3

1. 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. ↩︎
2. See https://climatechange.vermont.gov/wherearewegoing ↩︎
3. 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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