The case for immediate climate action could not be more stark. Global temperatures have already risen by 1.1°C and over 3 billion people are highly vulnerable to the effects of a warming planet, according to the Intergovernmental Panel on Climate Change (IPCC). We need to immediately adapt to the impacts of a changing climate. We also have to limit warming as close to 1.5°C … [Read more...] about Achieving Climate Change Goals Means Redirecting 7 to 19% of GDP Worth of Spending Decisions
Hurricanes batter Central America killing hundreds and causing billions of dollars in losses. Wildfires destroy one-third of the Pantanal, the world's largest wetland, as drought sears Brazilian crops. Sea levels rise, coral reefs bleach and die, and glaciers retreat, leaving less fresh water for farming and human … [Read more...] about Managing the Existential Crises of COVID-19 and Climate Change Together
By Adrien Vogt-Schilb and Matthew Binsted What if I told you that making greenhouse gas emissions reduction targets more stringent would be cheaper than keeping current ones? That might seem to defy logic. But it makes sense when you consider the financial costs of continuing to invest in technologies that take us only part way to our ultimate emissions-reduction goals, only … [Read more...] about Strengthening Climate Goals Will End Up Saving Money for Latin America and the Caribbean
We environmental economists have long advocated carbon taxes as the fastest and most efficient way to reduce greenhouse-gas emissions from cars and power plants and prevent catastrophic global warming later this century. But carbon taxes can be politically problematic. Witness recent events in France where efforts by the government to increase fuel taxes triggered weeks of … [Read more...] about Can We Reduce Emissions While We Wait for a Carbon Tax?
To stabilize climate change, we need to get to zero net carbon emissions by the end of the century. A key question then for policymakers is when and how to reduce emissions. Imagine you are a policymaker, and you have two options for reducing emissions. Energy efficiency measures in the building sector (LED lights instead of light bulbs, better thermal insulation) can reduce … [Read more...] about Climate Policy: When the Expensive Options Make Sense