EPA to Review Metric That Sets Cost of Harm From Climate Change

The EPA on Wednesday said it will revisit a price tag on carbon emissions that’s used across the federal government to write regulations and issue permits.

A statement from Environmental Protection Agency Administrator Lee Zeldin didn’t clearly indicate whether the agency means to cancel the social cost of carbon altogether—a move that could face legal hurdles—or to simply lower its value. Former President Joe Biden’s EPA raised the social cost of carbon from between $3 to $5 a ton in Trump’s first administration to $190.

The change came as part of a sweeping overhaul of Obama- and Biden-era ...