Which one of the following statements best describes the term 'Social Cost of Carbon'? It is a measure, in…

Which one of the following statements best describes the term 'Social Cost of Carbon'? It is a measure, in monetary value, of the
  1. long-term damage done by a tonne of CO2 emissions in a given year.
  2. requirement of fossil fuels for a country to provide goods and services to its citizens, based on the burning of those fuels.
  3. efforts put in by a climate refugee to adapt to live in a new place.
  4. contribution of an individual person to the carbon footprint on the planet Earth.

Solution

Social Cost of Carbon (SCC) measures, in monetary terms, the long-term damage caused by emitting one additional tonne of CO2 in a given year. Answer: (a).

Asked in: UPSC Prelims 2020

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