Social cost of carbon
Global Warming of 1.5 ºC, Glossary, published by the Intergovernmental Panel on Climate Change (IPCC) in 2018, defines the social cost of carbon (SCC) as: ‘The net present value of aggregate climate damages (with overall harmful damages expressed as a number with positive sign) from one more tonne of carbon in the form of carbon dioxide (CO2), conditional on a global emissions trajectory over time.’
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