PLEA Network

31 July 2016, Scientific American, The Sticky Truth about Economic Growth and Climate Change. Why we need to talk about the costs of mitigation. That averting climate change will save us money should be a tautology, but for reasons including entrenched interests, it is not. The pre-cautionary principle alone would tell us that we do not want to learn what costs climate change will incur, so better to pay a small premium to avoid the risk at all. Instead, calculated estimates pin the cost of avoiding catastrophic effects from climate change at something like 1% of global GDP. So who will pay for it, and who loses from a more sustainable economy? In recent years, several studies have come out running cost-benefit analysis on a policy switch to a clean energy system. Yet, besides governmental ‘push’ factors, we should not forget market ‘pull’ factors. Even if there was less of a push by the government to clean up our air and water supply, as well as mitigate climate change, the coal industry is for example changing regardless thanks to cheap natural gas as well as self-inflicted wounds. While coal mine employment in the U.S. did drop 91,600 in 2011 to 74,900 in 2014, there are now more workers in the solar sector than in oil and gas. So overall, not counting the benefits of lowered air pollution and avoiding climate change, the overall job situation seems to be moving towards net positive. So, case closed? Not quite. Read More here