Economists have long insisted that the only way to cut emissions of carbon dioxide and other greenhouse gases rapidly and at scale is to put a price on them. But while that is true, the key to a successful, politically sustainable climate policy is to ensure that the benefits precede the costs.
It does not take a crystal ball to understand how momentous tipping points can be in natural systems that affect our welfare. Tipping points in climate can presage catastrophes on a planetary scale, even threatening civilization.
Even if Donald Trump defeats President Joe Biden and tries to take a wrecking ball to US climate and environmental policies, he ultimately would be powerless to derail the inevitable renewables revolution that is gaining momentum worldwide. His anti-climate agenda would be another wall that never gets built.
And the U.S. Inflation Reduction Act is surprisingly well-designed to deal with the fallout.
Given that this year’s United Nations Climate Change Conference was hosted by a petrostate and led by a fossil-fuel CEO, climate campaigners understandably had low expectations. Yet the summit did deliver some new commitments, and there is good reason to think that they are more than just empty words.
CBS Professor Shivaram Rajgopal shares why understanding environmental, social, and governance (ESG) issues is vital for business leaders.
CBS Professors Bruce Usher and Gernot Wagner share their insights on the the annual climate gathering and the School’s role in shaping the future of climate education.
With China’s economic growth slowing at the same time that its emissions continue to rise, it is clear that its carbon-intensive investment model has run its course. Chinese leaders urgently need to follow advanced economies in shifting toward greater domestic consumption and reduced energy demand.
Across (and sometimes even within) academic disciplines, no topic under the broad umbrella of climate economics tolerates quite so large a gap between facts and dogma, and between the power of a seemingly simple idea on the one hand and raw political power on the other.