Social Cost of Carbon

Description

Shaun Chamberlin et al.:

"Social cost of carbon: The social cost of carbon measures the marginal cost to society of emitting one extra tonne of carbon today, incorporating the full economic cost of the climatic damage it will cause over its atmospheric lifetime. In theory, it signals what society should be willing to pay now in order to avoid the future damage caused by emissions." (http://www.teqs.net/Reconciling%20scientific%20reality%20with%20realpolitik.pdf#page=2)