In principle, it includes the value of all climate change impacts, including (but not limited to) changes in net agricultural productivity, human health effects, property damage from increased flood risk natural disasters, disruption of energy systems, risk of conflict, environmental migration, and the value of ecosystem services. The SC-GHG is the monetary value of the net harm to society associated with adding a small amount of that GHG to the atmosphere in a given year. Collectively, these values are referenced as the “social cost of greenhouse gases” (SC-GHG) in this document. The estimates of the social cost of carbon (SC-CO 2), social cost of methane (SC-CH 4), and social cost of nitrous oxide (SC-N 2O) presented here allow agencies to understand the social benefits of reducing emissions of each of these greenhouse gases, or the social costs of increasing such emissions, in the policy making process. As a part of that request for comment, the IWG will seek comment on the discussion of advances in science and methodology included in this TSD and how those advances can best be incorporated into the revised final estimates.Ī robust and scientifically founded assessment of the positive and negative impacts that an action can be expected to have on society provides important insights in the policy-making process. The current IWG will take comment on recent developments in the science and economics for use in a more comprehensive update, to be issued by January 2022, which will more fully address the recommendations of the National Academies of Sciences, Engineering, and Medicine as reported in Valuing Climate Damages: Updating Estimation of the Social Cost of Carbon Dioxide (2017) and other pertinent scientific literature. These interim values are the same as those developed by the IWG in 20. This Technical Support Document (TSD) presents interim estimates of the social cost of carbon, methane, and nitrous oxide developed under Executive Order 13990.
JASON SCHWARTZ SOCIAL COST METHANE FULL
Recognition of the full SCM, which has typically been undervalued, may help catalyze actions to reduce emissions and thereby provide a broad set of societal benefits.The Interagency Working Group (IWG) on the Social Cost of Greenhouse Gases is committed to ensuring that the estimates agencies use when monetizing the value of changes in greenhouse gas emissions resulting from regulations and other relevant agency actions continue to reflect the best available science and methodologies. The results indicate that efforts to reduce methane emissions via policies spanning a wide range of technical, regulatory and behavioural options provide benefits at little or negative net cost. Examining recent trends in methane and carbon dioxide, we find that increases in methane emissions may have offset much of the societal benefits from a slowdown in the growth rate of carbon dioxide emissions. In the agricultural sector, changes in livestock management practices, promoting healthy diets including reduced beef and dairy consumption, and reductions in food waste have been promoted as ways to mitigate emissions, and these are shown here to indeed have the potential to provide large societal benefits (∼$50–150 billion per year).
Within the energy sector, renewables compare far better against use of natural gas in electricity generation when incorporating these social costs for methane.
Our results suggest that ∼110 of 140 Mt of identified methane abatement via scaling up existing technology and policy options provide societal benefits that outweigh implementation costs.
These values are ∼100 and 50 times greater than corresponding social costs for carbon dioxide. ∼$2400 per ton and ∼$3600 per ton with 5% and 3% discount rates respectively. Calculating the SCM using consistent temporal treatment of physical and economic processes and incorporating climate- and air quality-related impacts, we find large SCM values, e.g. Use of a broad measure of social welfare is also an attractive alternative or supplement to emission metrics focused on a temperature target in a given year as it incentivizes action to provide benefits over a broader range of impacts and timescales. Quantifying these damages to the planetary commons by calculating the social cost of methane (SCM) facilitates more comprehensive cost-benefit analyses of methane emissions control measures and is the first step to potentially incorporating them into the marketplace. Methane emissions contribute to global warming, damage public health and reduce the yield of agricultural and forest ecosystems.
0 kommentar(er)
