All MCAN News
04/22/2008
Cost of Cutting Carbon: Pennies a Day
The cost of capping global warming pollution over the next two decades is almost too small to measure!
General News
Posted by: Susan Altman
The cost of capping global warming pollution over the next two decades is almost too small to measure. That's the conclusion of a new report, "What Will It Cost to Protect Ourselves From Global Warming?", by Nat Keohane, Ph.D., director of economic policy and analysis for the Environmental Defense Fund.
The first-of-its-kind report synthesized the predictions of a range of peer-reviewed economic models and found that:
- We can afford an aggressive cap-and-trade policy to tackle global warming. The cost to the economy will be minimal -- less than one percent of U.S. gross domestic product in 2030.
- We cannot afford to wait. Further delay will greatly increase the costs of making necessary emissions cuts and will risk locking in irreversible climate change.
- Strict limits on global warming pollution can harness the power and creativity of capital markets. Transitioning to a low-carbon economy is best done through the powerful engine that drives our economy.