Pricing Carbon and Valuing Damages

Pricing Carbon & Valuing Damages

Alliance members are incentivizing cost-effective emissions reductions by setting prices or caps on carbon pollution while also considering societal and environmental impacts of greenhouse gas emissions and climate change, including the social cost of greenhouse gases, across relevant policy-making and decision-making processes.

Pricing Carbon & Valuing Damages | Governor Inslee at Miller Community Center in Washington

Member Action

Pricing Carbon & Valuing Damages

Below are tallies of the number of members that have adopted or are in the process of adopting statutory and executive policies and actions.

For the most up-to-date, in-depth breakdown of pricing carbon and valuing damages actions across our membership, explore the Alliance Policy Database.

Alliance Policy Database

Did You Know?

  • Pricing carbon complements regulatory actions by not only driving GHG emissions reductions, but by also generating revenue that states can re-invest into advancing climate action and helping frontline communities.
  • The Social Cost of Greenhouse Gases (SC-GHG) is a metric that estimates the cost of the impact GHG emissions have on society. For states and territories, it informs policymaking by assigning a monetary value to climate damage.

Source: Alliance Social Cost of Greenhouse Gases (SC-GHG) State Guide

Member Spotlight

New York Announces Cap-and-Invest Program to Drive Resources to Disadvantaged Communities

During her 2023 State of the State Address, New York Governor Kathy Hochul announced the development of an economy-wide cap-and-invest program, which will cap GHG emission in the state and share revenue with New Yorkers from disadvantaged communities. The program will be aligned with the statewide emissions requirements of 40% below 1990 levels by 2030, and at least 85% reduction by 2050, and aims to drive 40% of cap-and-invest resources directly to disadvantaged communities.

Source: New York Office of the Governor 

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The Social Cost of Greenhouse Gases

A Guide for State Officials

August 2022

Download the Guide

The Social Cost of Greenhouse Gases

A Guide for State Officials

August 2022

Download the Guide

Report | 2023

U.S. Climate Alliance 2023 Annual Report | All Hands on Deck: The Alliance’s 25 member states and territories are now projected to reduce collective greenhouse gas (GHG) emissions 26% by 2025 below 2005 levels and achieve their near-term climate target.
2023 Annual Report | All Hands on Deck

Securing America’s Net-Zero Future with State-Led, High-Impact Action

Letter | 2023

The U.S. Climate Alliance submitted a letter to the U.S. Environmental Protection Agency (EPA) to support the inclusion and utilization of updated estimated values for the social cost of greenhouse gases (SC-GHGs), a key metric in assessing the true cost of climate damages.
U.S. Climate Alliance Encourages EPA to Update Social Cost of Greenhouse Gases Estimates

The U.S. Climate Alliance submitted a letter to the U.S. Environmental Protection Agency to support the inclusion and utilization of updated estimated values for the social cost of greenhouse gases (SC-GHGs).

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