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Environmental Protection Agency

By Council On Environmental Quality


Under Executive Order 12866, agencies are required, to the extent permitted by law, “to assess both the costs and the benefits of the intended regulation and, recognizing that some costs and benefits are difficult to quantify, propose or adopt a regulation only upon a reasoned determination that the benefits of the intended regulation justify its costs. ” The purpose of the “social cost of carbon ” (SCC) estimates presented here is to allow agencies to incorporate the social benefits of reducing carbon dioxide (CO2) emissions into cost-benefit analyses of regulatory actions that impact cumulative global emissions. The SCC is an estimate of the monetized damages associated with an incremental increase in carbon emissions in a given year. It is intended to include (but is not limited to) changes in net agricultural productivity, human health, property damages from increased flood risk, and the value of ecosystem services due to climate change. The interagency process that developed the original U.S. government’s SCC estimates is described in the 2010 interagency technical support document (TSD) (Interagency Working Group on Social Cost of Carbon 2010). Through that process the interagency group selected four SCC values for use in regulatory analyses. Three values are based on the average SCC from three integrated assessment models (IAMs), at discount rates of 2.5, 3, and 5 percent. The fourth value, which represents the 95t

Year: 2013
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