1. Cut Military Spending, Fund Green Manufacturing
- Author:
- Heidi Peltier
- Publication Date:
- 11-2019
- Content Type:
- Special Report
- Institution:
- Watson Institute for International and Public Affairs at Brown University
- Abstract:
- Letting climate change continue unabated will have significant economic costs. Economists from the IMF and elsewhere have estimated costs on the order of 10% of US GDP by 2100 in the absence of climate change policies, and even with policies that limit warming to 2.6°C, climate damages are expected to cost 1-2% of GDP by 2100.i If unchecked, climate change will wreak havoc on natural and human systems, including on the economy. One year ago, a report by the Intergovernmental Panel on Climate Change (IPCC) stressed the need and urgency to limit global warming to no more than 1.5°C above pre-industrial levels.ii The U.S. National Academies of Sciences, of Medicine, and of Engineering have affirmed and corroborated those findings.iii On the other hand, taking steps to mitigate and adapt to climate change, such as by shifting to a clean energy economy, may have short-term costs, but will also have some short-term benefits and many longer-term benefits. How can we pay for a transition to clean energy?
- Topic:
- Climate Change, Budget, Economy, and Military Spending
- Political Geography:
- North America and United States of America