Critics of strong national climate change policies often talk about how much taking action costs the economy. What they usually don’t mention is the cost of doing nothing.
It’s easy to ignore. The figure is hard to pin down and involves estimating the economic damage that will be caused by climate change decades into the future, whether that includes bigger storm surges and more wildfires or higher crop prices and health care costs. Economists and scientists have been together grappling with the question--trying to put a dollar figure of the “social cost” of emitting a single ton of carbon dioxide--for more than a decade. Getting to that dollar figure makes it far easier for politicians and policymakers to compare the costs of setting various climate and energy policies, such as regulating coal power plants, to the benefits of lowering greenhouse gas emissions.
In a new report as part of the Cost of Carbon Pollution project, a trio of groups--the Environmental Defense Fund, NYU’s Institute for Policy Integrity, and the Natural Resources Defense Council--explain how the Obama administration is continuing to lowball these “social cost of carbon pollution" estimates.
Click headline to read more--
Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc