This podcast episode explores the importance of carbon pricing and understanding the social cost of carbon in addressing climate change. It features an interview with Dr. Michael Greenstone, who discusses his work in academia and public service, as well as his co-founded startup, Climate Vault, which facilitates carbon emissions offsetting. The episode highlights the failure of the United States to put a price on carbon and the fluctuation of the social cost of carbon over time. It also emphasizes the significance of carbon removal technologies and the need for diverse approaches to achieve widespread adoption. Overall, the episode emphasizes the need for innovation, credible offsets, and pricing carbon emissions to drive sustainability and unleash innovation in combating climate change.