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https://www.sciencealert.com/the-future-costs-of-emissions-are-drastically-higher-than-anticipated-scientists-say>
'The cost inflicted on the world by carbon pollution may be nearly four times
higher than recent estimates, a study said Thursday (Sept. 1), highlighting how
much climate action could save this and future generations.
The "social cost of carbon" is a way of evaluating the negative economic,
labor, and health consequences of CO2 emissions, calculated as the difference
between the cost of reducing those emissions and the damages prevented by the
reductions.
Arriving at an accurate cost price per ton of CO2 is vital to the viability of
a carbon tax, which is widely seen as one of the easiest ways to fund
decarbonization efforts.
In the US, the figure has for years formed part of cost-benefit analyses for
everything from power plant regulations to efficiency standards for cars and
household appliances.
Lead author Kevin Rennert, from the Washington-based research center Resources
for the Future, said the study represented a "complete overhaul" of the US
government's current carbon cost calculations.
He said that the cost had been underestimated in previous methodologies in a
variety of ways, but none more so than in the excess mortality carbon pollution
causes, and on crop losses.
"The most substantial damages from climate change are driven by greater rates
of mortality from increased temperatures and impacts on the agriculture
sector," Rennert told AFP.
Last year a working group of experts under the Biden administration came up
with a place-holding figure for the social cost of carbon of $51 per metric
ton.
But they stressed their estimates – which include separate metrics for methane
and nitrous oxide – "likely underestimate societal damages", leading to
speculation that the final figure could be substantially higher.
Writing in the journal
Nature, Rennert and colleagues – climate and economic
experts – argued that the $51 figure was nearly four times lower than the true
social cost of carbon.'
Via Rixty Dixet.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
