This is the first study to provide a systematic monetary benefit matrix, including greenhouse gas (GHG) emissions reduction benefits and air pollution reduction health co-benefits, for a change in on-the-road transport to low-carbon types. The benefit transfer method is employed to estimate the social cost of carbon and the health co-benefits via impact pathway analysis in Taiwan. Specifically, the total emissions reduction benefits from changing all internal combustion vehicles to either hybrid electric vehicles, plug-in hybrid electric vehicles, or electric vehicles would generate an average of USD 760 million from GHG emissions reduction and USD 2091 million from health co-benefits based on air pollution reduction, for a total benefit of USD 2851 million annually. For a change from combustion scooters to light- or heavy-duty electric scooters, the average GHG emissions reduction benefits would be USD 96.02 million, and the health co-benefits from air pollution reduction would be USD 1008.83 million, for total benefits of USD 1104.85 million annually.
Keywords: benefit matrix; benefit per ton; benefit transfer method; health; social cost of carbon; value of statistical life.