Environmental Justice. What if Environmental fines and violations CUT into corporate profits? Say 20 Minimum%
BEMA International
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The US Environmental Protection Agency
Introduces a New Social Cost of Carbon for Public Comment
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Nordroden / Shutterstock
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In a
recently proposed regulation, the US Environmental Protection
Agency introduces an updated approach to estimating the social cost
of carbon that incorporates important scientific and statistical
advances.
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On
November 11, 2022, the US Environmental Protection Agency (EPA)
proposed a rule to regulate emissions of methane from the oil and
gas sector. The proposed actions themselves are worthy of
discussion, but one key technical feature of the announcement is worth
highlighting: EPA has introduced a new approach to estimating the
social cost of carbon (SCC) for a sensitivity case in its
regulatory analysis.
EPA’s use of this new SCC is noteworthy because it marks the first
time a government agency has put forward an updated approach to
estimating the SCC that responds to Executive Order 13990, which
was announced in January 2021. This executive order initiated an
update to the SCC, an important number that the federal government
uses in various policy applications. In short, EPA’s update is
comprehensive, quite detailed and technical, and likely to be
influential. It’s a worthy subject to unpack.
Read the full blog
post from RFF Fellows Kevin Rennert and
Brian C. Prest.
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Resources
for the Future (RFF) is an independent, nonprofit
research institution in Washington, DC. Our mission is to improve
environmental, energy, and natural resource decisions through
impartial economic research and policy engagement.
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