In a day and age where the word recession is being thrown around like a football, when asked to make financial sacrifices you’re more likely to get a kick in the crotch then a handshake. But unlike what the critics would have us believe, cutting carbon emissions could actually economically help the US, and similarly other countries in the same position.
A theoretical US policy to cut carbon emissions by up to 40% over a 20 year period could still result in increased economic growth; this, according to an interactive website created by the Yale School of Foresty and Environmental Studies.
The website reviews 25 of the leading economic models used to predict economic impacts of reducing emissions, and identifies the seven key assumptions account for most of the major differences in the model predictions.
“As Congress prepares to debate new legislation to address the threat of climate change, opponents claim that the costs of adopting the leading proposals would be ruinous to the U.S. economy. The world’s leading economists who have studied the issue say that’s wrong — and you can find out for yourself,” said Robert Repetto, professor in the practice of economics and sustainable development at the Yale School of Forestry & Environmental Studies
The interactive website allows visitors to define the truth of one of the seven statements, and then view the prediction of the models.
“The website shows that even under the most unfavorable assumptions regarding costs, the U.S. economy is predicted to continue growing robustly as carbon emissions are reduced,” said Repetto. “Under favorable assumptions, the economy would grow more rapidly if emissions are reduced through national policy measures than if they are allowed to increase as in the past.”
To check out the website click here, and proceed to the calculator via the link at the bottom.