True “Social Cost Of Carbon” Is More Than Double Earlier Estimates, Study Finds
by James Ayre (Clean Technica) The true “social cost of carbon” is more than double earlier estimates — with even just an updated accounting of the agricultural sector on its own more than doubling earlier estimates in aggregate — according to a new analysis from the University of California—Davis and Purdue University.
Going on the new analysis, the true “social cost of carbon” is 72% to 129% greater than previously estimated following updated agricultural sector estimates. In addition, the new analysis shows that climate change has an overall net-negative effect on agriculture; and that every ton of CO2 emitted currently causes up to $8.50 in costs on agriculture.
Also noteworthy is the analysis shows that higher temperatures have net-negative effects on 4 major crops in essentially all of the locations where they are grown.
An email sent to CleanTechnica provides more: “This leads the overall social cost of carbon to increase from $8.60 per ton of CO2 to between $14.80 and $19.70, an increase of 72% to 129%. … Previous estimates were based on data from the 1980s and 1990s that suggested the short-term benefits of increased CO2 emissions on plant growth would benefit agriculture. The updated estimates show that climate change has an overall negative effect on agriculture.