Two articles which show that fighting climate change can actually be an economic benefit, not simply a cost
World Bank: Fighting Climate Change Would Boost Global Economy Up To $2.6 Trillion A Year
An important new World Bank report concludes that just a few key policies aimed at cutting carbon pollution would boost the global economy. The study “Climate-Smart Development: Adding Up the Benefits of Actions that Help Build Prosperity, End Poverty and Combat Climate Change,” looks at the European Union plus Brazil, China, India, Mexico, and the U.S.
The Bank finds that if all six embrace three sets of policies for clean transportation plus energy efficiency in industry in buildings, “the annual benefits of just these policies in 2030 include an estimated GDP growth of between $1.8 trillion and $2.6 trillion.” Furthermore, the report found that “these policies alone would account for 30 percent of the total reduction needed in 2030 to limit global warming to 2°C [3.6°F].”
Critics of a carbon tax inevitably claim it would kill jobs. But according to a new analysis, even a super-aggressive carbon tax would actually improve the economy, while also massively reducing the carbon dioxide America dumps into the atmosphere.
The report was commissioned by the Citizens Climate Lobby (CCL) and carried out by a joint effort by two firms with computer simulators that model both climate systems and the American economy. It looked at what would happen if the United States put a $10 tax on every metric ton of carbon emitted, with that tax increasing by $10 every year — a much more aggressive proposal than anything likely to pass the current Congress. Yet despite that ambition, CCL’s report turned up a 2.1 million increase in American jobs thanks to the policy, along with 13,000 premature deaths avoided and the elimination of one-third of the country’s carbon emissions by 2025.
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