[Solved] Which one of the following statements best describes the term Social Cost of Carbon ? It is a measure, in monetary value, of the

Q65. Which one of the following statements best describes the term Social Cost of Carbon ? It is a measure, in monetary value, of the

A. long-term damage done by a tonne of C02 emissions in a given year.

B. requirement of fossil fuels for a country to provide goods and services to its citizens, based on the burning of those fuels.

C. efforts put in by a climate refugee to adapt to live in a new place.

D. contribution of an individual person to the carbon footprint on the planet

Answer: A

Explanation:

· The social cost of carbon (SCC) is an estimate, in dollars, of the economic damages that would result from emitting one additional ton of greenhouse gases into the atmosphere.

· The SCC puts the effects of climate change into economic terms to help policymakers and other decision makers understand the economic impacts of decisions that would increase or decrease emissions.

· A higher SCC generally means that the benefits of a particular climate policy to cut CO2 justify its cost; a low SCC makes a policy seemingly cost more than the benefits it ultimately delivers.

· Theoretically, the SCC should increase over time because physical and economic systems will become more stressed as the impacts of climate change accumulate.