CARBON CREDITSANDTHE ENVIRONMENT
A carbon price is a cost applied to carbon pollution to encourage polluters to reduce the amount of greenhouse gas they emit into the atmosphere. Economists widely agree that introducing a carbon price is the single most effective way for countries to reduce their emissions. A carbon credit is a permit or certificate allowing the holder, such as a company, to emit carbon dioxide or other greenhouse gases. The credit limits the emission to a mass equal to one ton of carbon dioxide. The ultimate goal of carbon credits is to reduce the emission of greenhouse gases into the atmosphere So, in a nutshell, carbon credit (often called carbon offset) is a credit for greenhouse emissions reduced or removed from the atmosphere from an emission reduction project, which can be used, by governments, industry or private individuals to compensate for the emissions they are generating. The social cost of carbon is a measure of the economic harm from those impacts, expressed as the dollar value of the total damages from emitting one ton of carbon dioxide into the atmosphere. A carbon price is a cost applied to carbon pollution to encourage polluters to reduce the amount of greenhouse gas they emit into the atmosphere. Economists widely agree that introducing a carbon price is the single most effective way for countries to reduce their emissions. CARBONVALUES
CARBON CALCULATION
1 kilowatt of energy = 450 grams of CO2
The current central estimate of the social cost of carbon is USD40 per ton
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