More than Meets the Eye

The document examines the social cost of carbon (SCC) as a tool for cost-benefit analysis in government regulation, noting that the chosen SCC value directly determines the stringency of climate regulations. It argues that SCC calculations rely on judgment calls and assumptions beyond standard science or economics, which can be hidden from policymakers.

• The social cost of carbon (SCC) is a monetary estimate of the global benefit achieved by avoiding the damages caused by one additional metric ton of carbon dioxide emitted into the atmosphere, encompassing health impacts, agricultural changes, and economic dislocation.
• The specific SCC value selected by a government acts as a policy ceiling; lower values limit the amount of regulation the government can justify, while higher values justify more rigorous climate action.
• Calculating the SCC is problematic because it requires assumptions and judgment calls that exceed the boundaries of economics and science, often remaining invisible to stakeholders due to the complexity of the economic models used.
• Different jurisdictions use varying SCC ranges: a 2009 U.S. interagency team reported a range of $5 to $65 per tonne, whereas the United Kingdom used a higher range of $41–$124 per tonne with a central value of $83.

APA

World Resources Institute (n.d.). More than Meets the Eye. https://www.wri.org/more-meets-eye

Chicago

World Resources Institute. More than Meets the Eye. n.d. https://www.wri.org/more-meets-eye.

Wikipedia

{{cite report |author=World Resources Institute |title=More than Meets the Eye |url=https://www.wri.org/more-meets-eye |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitutendmore, author = {{World Resources Institute}}, title = {{More than Meets the Eye}}, institution = {World Resources Institute}, url = {https://www.wri.org/more-meets-eye}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }