This week the International Energy Agency predicted the coming economic recovery will be the biggest emission spike since the global recovery from the 2008 financial crisis. Too bad that good economic news is bad climate news. But it doesn’t have to be that way. A well-crafted carbon price can shift a fossil fueled economy to a low carbon economy, reducing emissions as it grows jobs. But we can keep the climate in livable bounds only if we act swiftly and soon.
A steadily rising price on carbon as proposed in HR 2307, the Energy Innovation and Carbon Dividend Act, will reduce U.S. emissions by 30% in five years and be the most impactful action for the U.S. to reach net zero emissions by 2050. The fees paid by oil, gas, and coal extractors will be returned to American households as a monthly dividend, putting money in our pockets to spend as we like. The majority of us will break even or get more back in dividends than we pay in increased energy costs, but business will need to innovate to stay competitive.
Do your part this Earth Week, call Congressman O’Halleran and Senators Sinema and Kelly to support HR 2307.
Originally Appeared On: https://azdailysun.com/opinion/letters/letter-to-the-editor-the-economy-and-climate-can-both-win/article_3f3c0fdf-1293-5636-9763-129d52aacc96.html