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Social Cost Of Greenhouse Gas Emissions
The social cost of carbon (SCC) is an estimate, typically expressed in dollars, of the economic damages associated with emitting one additional ton of carbon dioxide into the atmosphere. By translating the effects of climate change into monetary terms, the SCC provides policymakers with a tool to assess the potential impacts of actions that increase or reduce greenhouse gas emissions. It is commonly used in regulatory impact analyses to inform investment decisions, cost-benefit assessments, and climate policy development. History The concept of pricing environmental externalities was first proposed by economist Arthur Pigou in 1912, who suggested taxing activities that generate negative externalities, such as pollution. Although Pigou's framework did not specifically address carbon dioxide emissions, it laid the intellectual foundation for the development of the Social Cost of Carbon. In the early 1990s, economist William Nordhaus introduced the Dynamic Integrated Climate-E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Dioxide In Earth's Atmosphere
In Earth's atmosphere, carbon dioxide is a trace gas that plays an integral part in the greenhouse effect, carbon cycle, photosynthesis and oceanic carbon cycle. It is one of three main greenhouse gases in the atmosphere of Earth. The concentration of carbon dioxide () in the atmosphere reached 427 ppm (0.0427%) on a molar basis in 2024, representing 3341 gigatonnes of . This is an increase of 50% since the start of the Industrial Revolution, up from 280 ppm during the 10,000 years prior to the mid-18th century. The increase is due to human activity. The current increase in concentrations is primarily driven by the burning of fossil fuels.IPCC (2022Summary for policy makers iClimate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change, Cambridge University Press, Cambridge, United Kingdom and New York, NY, USA Other significant human activities that emit include cem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Order 13990
Executive Order 13990, officially titled Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis is an executive order signed by President Joe Biden on January 20, 2021, which implements various environmental policies of his administration including revoking the permit for the Keystone XL Pipeline and temporarily prohibiting drilling in the arctic refuge. It was rescinded by Donald Trump within hours of his assuming office on January 20, 2025. Provisions Executive Order 13990 includes several provisions designed to reverse actions taken by the previous administration and recommit the United States to combating climate change. Key provisions of the order include: *Rejoining the Paris Agreement on climate change. *Directing federal agencies to review and, if necessary, revise or suspend regulations and policies that may hinder environmental protection or public health. *Establishing a review process to identify actions that may disprop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Aversion
In economics and finance, risk aversion is the tendency of people to prefer outcomes with low uncertainty to those outcomes with high uncertainty, even if the average outcome of the latter is equal to or higher in monetary value than the more certain outcome. Risk aversion explains the inclination to agree to a situation with a lower average payoff that is more predictable rather than another situation with a less predictable payoff that is higher on average. For example, a risk-averse investor might choose to put their money into a bank account with a low but guaranteed interest rate, rather than into a stock that may have high expected returns, but also involves a chance of losing value. Example A person is given the choice between two scenarios: one with a guaranteed payoff, and one with a risky payoff with same average value. In the former scenario, the person receives $50. In the uncertain scenario, a coin is flipped to decide whether the person receives $100 or nothing. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Effect Of Discount Rate On Present Value Of Future Climate Damages
Effect may refer to: * A result or change of something ** List of effects ** Cause and effect, an idiom describing causality Pharmacy and pharmacology * Drug effect, a change resulting from the administration of a drug ** Therapeutic effect, a beneficial change in medical condition, often caused by a drug ** Adverse effect or side effect, an unwanted change in medical condition caused by a drug In media * Special effect, an artificial illusion ** Sound effect, an artificially created or enhanced sound ** Visual effects, artificially created or enhanced images *Audio signal processing ** Effects unit, a device used to manipulate electronic sound *** Effects pedal, a small device attached to an instrument to modify its sound Other uses * Effects, one's personal property or belongings * Effects (G.I. Joe), a fictional character in the G.I. Joe universe * ''Effects'' (film), a 1979 film (give a wide release in 2005) * Effect size, a measure of the strength of a relationship bet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ecosystem Service
Ecosystem services are the various benefits that humans derive from ecosystems. The interconnected living and non-living components of the natural environment offer benefits such as pollination of crops, clean air and water, decomposition of wastes, and flood control. Ecosystem services are grouped into four broad categories of services. There are ''provisioning services'', such as the production of food and water; ''regulating services'', such as the control of climate and disease; ''supporting services'', such as nutrient cycles and oxygen production; and ''cultural services'', such as recreation, tourism, and spiritual gratification. Evaluations of ecosystem services may include assigning an economic value to them. For example, estuarine and coastal ecosystems are marine ecosystems that perform the four categories of ecosystem services in several ways. Firstly, their provisioning services include marine resources and genetic resources. Secondly, their supporting services inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Discount Rate
Social discount rate (SDR) is the discount rate used in computing the value of funds spent on social projects. Discount rates are used to put a present value on costs and benefits that will occur at a later date. Determining this rate is not always easy and can be the subject of discrepancies in the true net benefit to certain projects, plans and policies. The discount rate is considered as a critical element in cost–benefit analysis when the costs and the benefits differ in their distribution over time, this usually occurs when the project that is being studied is over a long period of time. Use in cost–benefit analysis It may be used in estimating the value of creating a highway system, schools, or enforcing environmental protection, for example. All of these things require a cost–benefit analysis where policy makers measure the social marginal cost and the social marginal benefit for each project. Almost all new policies will not even be considered until after a cost� ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sea Level Rise
The sea level has been rising from the end of the last ice age, which was around 20,000 years ago. Between 1901 and 2018, the average sea level rose by , with an increase of per year since the 1970s. This was faster than the sea level had ever risen over at least the past 3,000 years. The rate accelerated to /yr for the decade 2013–2022. Climate change due to human activities is the main cause. Between 1993 and 2018, melting ice sheets and glaciers accounted for 44% of sea level rise, with another 42% resulting from thermal expansion of water. Sea level rise lags behind changes in the Earth's temperature by decades, and sea level rise will therefore continue to accelerate between now and 2050 in response to warming that has already happened. What happens after that depends on future human greenhouse gas emissions. If there are very deep cuts in emissions, sea level rise would slow between 2050 and 2100. The reported factors of increase in flood hazard potential are often e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shadow Price
A shadow price is the monetary value assigned to an abstract or intangible commodity which is not traded in the marketplace. This often takes the form of an externality. Shadow prices are also known as the recalculation of known market prices in order to account for the presence of distortionary market instruments (e.g. quotas, tariffs, taxes or subsidies). Shadow prices are the real economic prices given to goods and services after they have been appropriately adjusted by removing distortionary market instruments and incorporating the societal impact of the respective good or service. A shadow price is often calculated based on a group of assumptions and estimates because it lacks reliable data, so it is subjective and somewhat inaccurate. The need for shadow prices arises as a result of “externalities” and the presence of distortionary market instruments. An externality is defined as a cost or benefit incurred by a third party as a result of production or consumption of a g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy In Germany
Energy in Germany is obtained primarily from fossil fuel, fossil fuels, accounting for 77.6% of total energy consumption in 2023, followed by renewable energy, renewables at 19.6%, and 0.7% nuclear power. On 15 April 2023, the three remaining German nuclear reactors were taken offline, completing the country's nuclear phase-out plan. As of 2023, German primary energy consumption amounted to 10,791 Petajoule, making it the ninth largest global primary energy consumer. Total consumption has been steadily declining from its peak of 14,845 Petajoule in 2006. In 2023 Germany's gross electricity production reached 508.1 TWh, down from 569.2 TWh in 2022 and 631.4 TWh in 2013. Key to Germany's energy policies and politics is the Energiewende, meaning "energy turnaround" or "energy transformation". The policy includes nuclear phaseout (completed in 2023) and progressive replacement of fossil fuels by renewables. However, contrary to plan, the nuclear electricity production lost in G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese National Carbon Trading Scheme
The Chinese national carbon trading scheme is an intensity-based trading system for carbon dioxide emissions by China, which started operating in 2021. This emission trading scheme (ETS) creates a carbon market where emitters can buy and sell emission credits. The scheme will allow carbon emitters to reduce emissions or purchase emission allowances from other emitters. Through this scheme, China will limit emissions while allowing economic freedom for emitters. China is the largest emitter of greenhouse gases (GHG) and many major Chinese cities had severe air pollution through the 2010s, with the situation improving in the 2020s. The scheme is run by the Ministry of Ecology and Environment, which eventually plans to limit emissions from six of China's top carbon dioxide emitting industries. In 2021 it started with its power plants, and covers 40% of China's emissions, which is 15% of world emissions. China was able to gain experience in drafting and implementation of an ETS plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Price
Carbon pricing (or pricing) is a method for governments to mitigate climate change, in which a monetary cost is applied to greenhouse gas emissions. This is done to encourage polluters to reduce fossil fuel combustion, the main driver of climate change. A carbon price usually takes the form of a carbon tax, or an emissions trading scheme (ETS) that requires firms to purchase allowances to emit. The method is widely agreed to be an efficient policy for reducing greenhouse gas emissions. Carbon pricing seeks to address the economic problem that emissions of and other greenhouse gases are a negative externality – a detrimental product that is not charged for by any market. 21.7% of global GHG emissions are covered by carbon pricing in 2021, a major increase due to the introduction of the Chinese national carbon trading scheme. Regions with carbon pricing include most European countries and Canada. On the other hand, top emitters like India, Russia, the Gulf states and many ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Pricing In Canada
Carbon pricing in Canada is implemented either as a regulatory fee or as a tax levied on the carbon content of fuels at the provincial, territorial, or federal level. Provinces and territories of Canada are allowed to create their own systems of carbon pricing as long as they comply with the minimum requirements set by the federal government; individual provinces and territories thus may have higher taxes than the federally mandated one but not a lower one. Currently, all provinces and territories are subject to a carbon pricing mechanism, either by an in-province program or by one of two federal programs. , the federal minimum tax was set at per tonne of equivalent, set to increase to in 2030. In the absence of a provincial system, or in provinces and territories whose carbon pricing system does not meet federal requirements, a regulatory fee is implemented by the federal Greenhouse Gas Pollution Pricing Act (GHGPPA), which passed in December 2018. In provinces where the fee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
