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arXiv · 2310.12760

The Social Cost of Carbon

Richard S. J. Tol
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Abstract

The social cost of carbon is the damage avoided by slightly reducing carbon dioxide emissions. It is a measure of the desired intensity of climate policy. The social cost of carbon is highly uncertain because of the long and complex cause-effect chain, and because it quantifies and aggregates impacts over a long period of time, affecting all people in a wide range of possible futures. Recent estimates are around $\$$80/tCO$_2$.

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Richard S. J. Tol. 2023-10-19. The Social Cost of Carbon. https://arxiv.org/abs/2310.12760

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