Brookings Report: US GDP Up, Carbon Emissions Down
Despite concerns of the Trump administration that the Paris Climate Accord may be bad for the US Economy, for the past fifteen plus years, US GDP rose while carbon emissions fell as recently reported by the Brookings institution. The reported data clearly demonstrates that strong economic growth and decarbonization of the atmosphere are compatible. Dispelling the myth that decarbonization is bad for the economy is important as climate scientists have warned the world must transition away from fossil fuel consumption to 100% carbon emission free clean energy by 2050 to avoid catastrophic degradation of the earth's biosphere. Between 2000 and 2014, the report found the US decarbonized at the rate of 2.1% per year. This rate is less than half the rate which is needed according to climate scientists. Given the need to accelerate the pace of emissions reductions, the case for adopting a national price on carbon has never been stronger. The best equitable market-driven solution to placing a price on carbon is the revenue neutral carbon fee and dividend (CF&D) program espoused by Citizens Climate Lobby (CCL). As recently featured in Episode 7, Season 2 of the National Geographic channel's documentary series "Years of Living Dangerously", CCL has made major progress building political will to solve climate change. The group commissioned both a multi-state regional macro-economic and household cost impact study of the proposed CF&D program. These and similar studies find that the US can grow it's economy and create jobs all while drastically reducing greenhouse gas emissions. Now with the Brookings report data we have proof decarbonization won't harm the economy. To learn more about Carbon Fee and Dividend and to find a local chapter to join please visit CCL's website.