Analysis of Social Cost of Carbon Emissions between Korea and China

Key Points

• The study aims to estimate and analyze the social cost of carbon emissions (SCC) in Korea and China during a key climate crisis period.
• Utilized the GHKT model for estimating SCC based on three major parameters: discount rate, carbon cycle coefficient, and damage factor.
• Compared the weighted average estimates of SCC for Korea and China from 2000 to 2023.
• Estimated SCC in China ranged from 36.18 to 460.91 yuan/tCO₂eq during the study period.
• Estimated SCC in Korea ranged from 3,177 to 6,508 won/tCO₂eq for the same timeframe.
• Both countries showed a continuous increase in SCC, with a clear difference in the rate of increase.

Abstract