Climate economists have created a value called the "social cost of carbon" in order to better understand the cost/benefit relationship of climate policies and regulations. The social cost of carbon is the cost to society from damages caused by a ton of CO2 emissions. This value is difficult to quantify, with factors such as future societal wealth and global climate damages (such as species extinction) that are impossible to know. Series: "Sustainable California" [Science] [Show ID: 38046]