Biden Broadens Use of Social Cost of Carbon Across Agencies

The White House on Thursday gave federal agencies the green light to use a controversial price tag on the social cost of carbon in a broad range of decisions.

The decision opens the door for higher fines for violators, more rigorous reviews of federal programs, more stringent analyses of permit applications, and a shift toward the purchase of more electric vehicles and other low-carbon equipment.

The social cost of carbon is the estimated cost to society of releasing a ton of planet-warming greenhouse gases into the atmosphere. The figure takes into account estimates such as lost agricultural productivity, property damages ...