Economic Model based on Carbon Emission

Bill Gates uses the following equation to explain CO2 emissions (https://www.gatesnotes.com/2016-Annual-Letter):

P x S x E x C = CO2

where P is the population, S is the services used by each, E is the energy needed by each, and C is the carbon emission by each.

P x S x E x C=CO2 equation can be used to identify the cost from possible developmental scenarios.
Maybe we can reverse engineer some items and then look again to identify where to reduce with a cost model per country for instance. So the cost model is:

=> P x S x E x C = CO2 - [CO2 that is recycled]

--> P is not much regulated by governments, therefore this can be thought as a constant and can be later considered to calculate the load per person.

=> S2 x E2 x C2 = (CO2 - [CO2 that is recycled])

--> We can think of the scenarios that can be possible by diversifying S2, E2, and C2.
--> There is the carbon tax discussion: https://en.wikipedia.org/wiki/Carbon_tax. If we can quantify the cost per CO2, this can be used as an economic model for valuing scenarios and services. So, with an economic model like this, people living in the rain forests of Brazil is likely to get gadgets that emit CO2 for cheaper. 

--> Countries that improve on CO2 recycling techniques may start to get some items for cheaper.
--> People living in the desert may be at a disadvantage.
--> If the potential environmental hazard is also included in this model such as the possible waste and its associated costs to recycle...this economic model may be more realistic.
--> The cost of a service purchased in country A is calculated by using A's CO2 model and the producer country's CO2 model.