An analysis made during May 2021 puts a price tag on an Ohio Climate policy. After the analysis of the climate policy, the amount of money that could be saved was calculated to be up to $1 trillion.

“The figure comes from Scioto Analysis, an Ohio public policy research group that calculated the economic stakes of the three policies in the state.”

This analysis allows for society to save $1 trillion in costs for over three decades, which will be a big help to society in general. This analysis also tells us the benefits of the climate policy.

“Without policy action, the range of expected climate change impacts from Ohio’s energy production include pollution- and temperature-related health problems, costs for infrastructure repairs and upgrades, and agricultural productivity losses.”

According to the analysis of the Scioto Analysis, the state of Ohio, should start working on putting these climate policies into affect. This would allow for society to save money but also improve upon on the climate impact across the warming world. This will allow for the policy to not be as costly as before because Ohio isn’t as affected by climate change as other countries.

Which means that not only will this environment save money and help with climate change in Ohio, it will also lessen the climate impact of the world.

“The avoided social cost of carbon is the benefit of reducing greenhouse gas emissions,” said Ramteen Sioshansi, an economist at Ohio State University, who did not work on the report. “Economic orthodoxy holds that you should undertake an activity until the marginal cost of that activity equals its marginal benefit. So, to put it another way, if eliminating a ton of CO2 would entail $40 of cost, but the benefit of avoiding that ton of CO2 is $30, it would not make sense to undertake the reduction. If the costs and benefits are switched, it would.”