Which one of the following statements best describes the term ‘Social Cost of Carbon’?

The term 'Social Cost of Carbon' is a measure of the economic damages, in dollars, that would result from emitting one additional ton of carbon dioxide into the atmosphere.

It is used to value the climate impacts of rulemakings and helps policymakers understand the economic impacts of decisions that would increase or decrease emissions.

Therefore, it is best described as the long-term damage done by a tonne of carbon dioxide emissions in a given year.