Social Licence Watchdogs
Debt Collection Countdown
BHP, Chevron, Glencore, Inpex and Woodside
have failed to pay their social cost of carbon debts
by the official due date.
As a consequence of this, each companies’ social
licence to operate has been symbolically shredded.
The Social Cost of Carbon
Illustrated lecture.
Sergeant Sniffer introducing the Greenhouse Gas Impact Value Estimator – GIVE model
(courtesy of Resources of the Future).
In climate science research, the social cost of carbon is regarded as the ‘most important number you’ve never heard of’. In 2022, ‘resources for the future’ released a study calculating the social cost of carbon to society by measuring the impacts of C02 emissions on agriculture, mortality, energy consumption and sea-level rise. A dollar value is placed on every additional tonne of carbon dioxide released into the atmosphere.
Calculations
The Social Cost of Carbon Formula. a simple estimate for the social cost of carbon courtesy of sciencedirect.com
The SCC-Co2 is the monetary value of the net harm to society associated with adding one metric tonne of C02 into the atmosphere in a given year. It includes the value of all climate change impacts, including:
- changes in agricultural productivity,
- human health effects,
- property damage from increased flood risk,
- natural disasters,
- disruption of energy systems,
- risk of conflict,
- environmental migration, and
- the value of ecosystem services.
Calculator tool:
Would you like to work out the social cost of carbon for yourself?
The Social Licence Watchdogs have provided a basic calculation tool for working out the Social Cost of Carbon. Here’s how to use this tool effectively:
Input Scope 1, 2 and 3 emissions for a company in the input field below and press enter.
The calculator tool will multiply the amount by the social cost of carbon rate of AU$275. This is the monetary value associated with emitting one additional tonne of CO2 and give you a total
The damage modules will auto calculate based on the GIVE model percentages capturing harms to coastal damage, mortality rate, energy and agriculture.