Friday, September 26, 2014

Fixing Climate Change May Add No Cost, Report Says

The New York Times 
A new report casts doubt on the costliness of tackling climate change, claiming that necessary fixes could wind up being effectively free. The Global Commission on the Economy and Climate found that measures to limit emissions would cost approximately $4 trillion over the next 15 years, an increase of roughly 5 percent over the amount that would likely be spent anyway on new power plants, transit systems and other infrastructure. When the secondary benefits of greener policies — like lower fuel costs, fewer premature deaths from air pollution and reduced medical bills — are taken into account, the changes might help save money. “We are proposing a way to have the same or even more economic growth, and at the same time have environmental responsibility,” said the chairman of the commission, Felipe Calderón, the former president of Mexico and an economist. “We need to fix this problem of climate change, because it’s affecting all of us.”