Two Stanford researchers contend that current government estimates of the ‘social cost of carbon’ — a key metric of the economic damage caused by climate change used in cost-benefit analysis of regulations — could fall woefully short of what is necessary. They argue that the social cost of carbon on the global economy is actually about $220 for each ton of carbon dioxide emitted, compared to $37 calculated by the U.S. government.

“If the social cost of carbon is higher, many more mitigation measures will pass a cost-benefit analysis,” wrote co-author Delavane Diaz wrote in a statement.

(Photo: Ilya Naymushin)