White House Directs Broad Use Of SCC Beyond Regulatory Analyses

The White House is directing agencies to apply the social cost of carbon (SCC) metric to a variety of federal procurement, budgeting and project-review decisions, a move that will almost certainly spark opposition from industry groups that have long sought to limit use of the cost-benefit analysis tool to national rulemakings. The decision -- which comes as Biden officials continue a broad update of the metric that is likely to boost estimated climate damages from a marginal ton of greenhouse...