US President Joe Biden deserves congratulations for committing the United States to rejoin global efforts to combat climate change. But America and the world must respond to the challenge efficiently. Here, Biden’s January 20 executive order establishing an Interagency Working Group on the Social Cost of Greenhouse Gases is an especially important step.
The group’s task is to devise a better estimate for the dollar cost to society (and the planet) of each ton of carbon dioxide or other greenhouse gases emitted into the atmosphere. The number, referred to as the social cost of carbon (SCC), gives policymakers and government agencies a basis for evaluating the benefits of public projects and regulations designed to curb CO2 emissions – or of any project or regulation that might indirectly affect emissions.
By Nicholas Stern and Joseph E. StiglitzLONDON/NEW YORK US President Joe Biden deserves congratulations for committing the United States to rejoin global efforts to combat climate change. But America and the world must respond to the challenge efficiently. Here, Biden’s January 20 executive order establishing an Interagency Working Group on the Social Cost of Greenhouse
New research by the Transition Pathway Initiative finds that only 16 of 111 (14%) large publicly-listed industrial companies are aligned with an emissions reduction pathway that would keep global warming at 2°C or below.
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Transition Pathway Initiative: Just 14 per cent of heavy industry is aligned with global climate goals businessgreen.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessgreen.com Daily Mail and Mail on Sunday newspapers.