To curb climate change... A call to raise the social cost of carbon

 Nearly 400 climate experts have signed a letter aimed at supporting a US government proposal to triple or more the social cost of carbon, from $51 as it is now priced to $190. This cost is a key metric for determining the damage to societies caused by each additional metric ton of carbon dioxide emitted.

This cost is calculated by counting the climatic damage and its impact on economic outputs. This cost takes into account the damage to property such as homes and infrastructure in the face of increasingly frequent floods and fires.

Added to this is the health of the population, as well as economic losses in the agricultural sector in particular, and changes in the energy system. The social cost of carbon helps decision-makers formulate climate policies by demonstrating the benefits to society of reducing the carbon footprint.

The objective of the carbon tax is to reduce harmful and unfavorable levels of carbon dioxide emissions, which slows climate change and its negative effects on the environment and human health.