Which one of the following statements best describes the term 'Social Cost of Carbon'? It is a measure, in monetary value, of the

1. A

   long-term damage done by a tonne of CO2 emissions in a given year.

   Long-term damage of a tonne of CO2 in a given year, in money. That is the social cost of carbon.

2. B

   requirement of fossil fuels for a country to provide goods and services to its citizens, based on the burning of those fuels.

   Fossil requirement of a country. Not SCC.

3. C

   efforts put in by a climate refugee to adapt to live in a new place.

   A climate refugee’s effort. Not SCC.

4. D

   contribution of an individual person to the carbon footprint on the planet Earth.

   An individual’s footprint. That is a personal carbon account, not SCC.

Summary. Official key is (a). Social cost of carbon is a monetary estimate of the extra long-term damage from emitting one tonne of CO2 in a given year.