Which one of the following statement best describes the term lsquo Social Cost of Carbon rsquo It is...........

Environment and Ecology Air Pollution

Which one of the following statement best describes the term ‘Social Cost of Carbon’? It is a measure, in monetary value, of the

This questions was previously asked in

UPSC CSP Previous Year Paper (2020)

long-term damage done by a tonne of CO2 emissions in a given year.

requirement of fossil fuels for a country to provide goods and services to its citizens, based on the burning of those fuels.

efforts put in by a climate refugee to adapt to live in a new place.

contribution of an individual person to the carbon footprint on the planet Earth.

The “social cost of carbon” (SCC) is the present value of the future damages from one additional unit of carbon emissions in a particular year. The Social Cost of Carbon is usually estimated as the net present value of climate change impacts over the next 100 years (or longer) of one additional tonne of carbon emitted to the atmosphere today. It is the marginal global damage costs of carbon emissions.
The model includes the essential ingredients for calculating the SCC at the global scale, and is designed to be transparent and easy to use by decision-makers and non-specialists.

Hence option 1st is correct.

Also Check: https://www.oecd.org/env/cc/37321411.pdf