gs1medium
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 CO2 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 Earth.
▶ Answer & Explanation
Correct answer: A. long-term damage done by a tonne of CO2 emissions in a given year.
The Social Cost of Carbon (SCC) quantifies the economic damages that result from an additional tonne of carbon dioxide emitted into the atmosphere. These damages encompass a wide range of impacts, including changes in agricultural productivity, human health, property damage from increased flood risk, and ecosystem services. It is an estimate of the monetary value of these long-term consequences associated with the emission.
Source: UPSC gs1 2020