A New study claims, in the upcoming years US, India and Saudi Arabia are likely to suffer the hardest impacts of climate change.
For the first time Researchers prepared a data set quantifying the country specific contribution to the social cost of carbon (SCC). This data help in measuring the economic loss from CO2 emissions.
The data will help around 169 countries understand the impact of emission on a country’s economy. The data rank Brazil fourth in the list followed by China and the United Arab Emirates (UAE).
The Study found India’s SSC (social cost of carbon) is the highest at 86 US dollars per ton of CO2 emission.
In the USA, it’s at 48 US dollars followed by Saudi Arabia it’s around 47 US dollars.
In Brazil, China, and the UAE’s SCC are at 24 US dollars.
The journal, titled “Country-level social cost of carbon” which is published in the Nature Journal, explains that USA emits nearly five billion metric tons of carbon dioxide each year which is costing their economy about 250 billion US dollars.
The lead author of the study Kate Ricke, assistant professor from the University of California San Diego said, “Evaluating the economic cost associated with climate is valuable on a number of fronts, as these estimates are used to inform US environmental regulation and rulemakings,”
Countries, for example, claim that carbon dioxide causes relatively little harm to the economy, which can more easily justify rollbacks to the public on environmental regulation.
Previous studies had focused on carbon dioxide as a global pollutant, and calculated the global social cost of carbon.
“Our analysis demonstrates that the argument that the primary beneficiaries of reductions in carbon dioxide emissions would be other countries is a total myth,” Ricke said.
The Study found, countries like Canada, Northern Europe and Russia have negative cost of SSC values because of their current temperatures are below the economic optimum.
“We consistently find, through hundreds of uncertainty scenarios, that the US always has one of the highest country-level SCCs. It makes a lot of sense because the larger your economy is, the more you have to lose,” Ricke explained.
“Still, it’s surprising just how consistently the US is one of the biggest losers, even when compared to other large economies,” she added.
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