social cost of carbon

what is carbon??
Carbon is a chemical element with symbol C and atomin no. 6.As a member of group 14 on a periodic table it is non metalli and tetravalent making 4 electrons available to form covalent chemical bonds.There are 3 naturaly occuring isotopes,with and 13C being stable,while 14C is radio active,decaying with a half life of 5730 years.Carbon is one of the few elements known since antiquity.Carbon is the 50th most abundant element in the earth crust,and the fourth most abundant element in the universe by mass after hydrogen,helium,oxygen.It is present in all known life forms,and in the human body.Carbon is the 2nd most abundant element by mass
(about 18.5 %)after Oxygen.

Social cost of carbon

The social cost of carbon is the marginal cost of emitting 1 extra ton of carbon at any point at time.To calculate the SCC,the atmospheric residence time of carbon dioxide must be estimated,along with an estimate of the impacts of climate change.The impacts of extra ton if carbon dioxide in the aatmosphere must den be converted to equalent impacts when the ton of carbon dioxide was emitted.In economics,comparing impacts over time requires a discount rate.this rate determine the weight placed on impacts occuring at different times.

According to economic theory if SCC estimates were complete and markets perfect,a carbon tax should be set equal to SCC.Emission permits would also have a value equal to SCC.In reality,markets are not perfect and SCC estimates are not completes.

And amount of Carbon dioxide pollution is measured by the weight of the pollution.Sometimes this is measured directly as the weight of the carbon dioxide molecules.This is called a tone of carbon dioxide and is abbreviated 'TCO2'.Alternatively the pollutions weight can be measured by adding up only weight of the carbon atoms in the pollution,ignoring the oxygen atoms.this is called a tone of carbon and is abbrevieted by 'TC'.Estimates of dollar cost of carbon dioxide pollution is given per tone,either carbon or carbon dioxide or TC or TC2.One TC is roughly equavalent to four TCO2.

Estimate of SCC are highly uncertain.Yohe et al.(2007.813) summerized the literature on SCC estimates: peer reviewed estimates of the SCC for 2005 had an average value of dollar 43/Tc with a standard devation of dollar 83/Tc.The wide range of estimates is explained mostly by underlined uncertainities in the science of climate change,different choices of account change,different valuations of economic and non economic impacts,treatment of equity and how potential catastrophic impacts are estimated.The true SCC is expected to increase over time.The rate of increase will very likely be 2 to 4 % per year.

CARBON TAX

A carbon tax is an enviormental tax that is levid on the carbon contents of the fuel it is form of carbon pricing.Carbon is present in every fossil fuel and is realised as carbon dioxide when they are burnt.In contrast non combustion energy sources wind,sunlight,hydropower and nuclear do not convert hydro carbons to carbon dioxide.A carbon tex ca be implemented by taxing the burning of fossil fuel coal,petroleam such as gasoline,aveation fuel and natural gassine proportion to carbon content.

PRESENTED BY-HEMA (MBA I)
Submitted to - Mr. Gurdeepak singh