April 5, 2017
Ending the Social Cost of Carbon Measure
President Trump signed a landmark executive order (EO) rolling back the climate change initiatives of President Obama and lifting barriers to domestic energy production. The EO ended climate considerations by effectively ending the use of the “Social Cost of Carbon,” (SCC) (which AAF covered here). Broadly, the SCC monetizes the value of not emitting an equivalent ton of carbon dioxide into the atmosphere. The administration disbanded the “Interagency Working Group on Social Cost of Greenhouse Gases”, withdrew the Technical Support Document on the SCC produced in 2010, ending four technical updates to the SCC, and narrowing the monetization of the benefits of reducing emissions. Read more here.