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Biden raises key metric for greenhouse gases Source: By Jean Chemnick, E&E News reporter • Posted: Monday, March 1, 2021
President Biden addresses the nation Saturday from the White House. His administration dramatically increased the social cost of carbon compared to its diminished value under President Trump. Sam Corum – Pool via CNP/Newscom
Contributing to climate change is once again expensive at least in the eyes of the federal government.
That’s after the Biden administration on Friday raised the social cost of carbon to about $51 per ton. The figure factors into a wide variety of policy decisions including EPA regulations and government spending.
Scientific American
The Biden Administration raised the benchmark, and may do it again within a year
Contributing to climate change is once again expensive at least in the eyes of the federal government.
That’s after the Biden administration on Friday raised the social cost of carbon to about $51 per ton. The figure factors into a wide variety of policy decisions including EPA regulations and government spending.
The move dramatically raises the value of carbon, which had fallen to as little as $1 under President Trump. The figure used by Biden mirrors estimates from the Obama-era, when it was $50 a ton. And it stands to go higher in January after the administration completes a comprehensive overhaul of carbon’s value.
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