The Biden administration has replaced the prior administration’s methods to estimate the benefits of reducing climate pollution. The so-called “social cost of greenhouse gases” combines climate science and economics to help federal agencies and the public understand the benefits of reducing GHG emissions. The metric is a range of estimates, in dollars, of the long-term damage done by one ton of greenhouse gas emissions. The administration announced it is replacing the previous administration’s estimates with the ones developed prior to 2017, adjusted for inflation. For more information, link to the White House posting. (2-26-21)
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