Climate Change

Can We Mitigate the Effects of Climate Change by Putting a Price on Carbon?

April 22, 2021  • Aspen Ideas to Go

There’s no denying the world is already paying for climate change. The price is stronger hurricanes, bigger wildfires, and unpredictable heat waves. So, how can people living on a changing globe literally pay to mitigate the effects of climate change? One solution is to utilize the social cost of carbon, says economist Michael Greenstone. He co-led the development of the US government’s social cost of carbon as chief economist for President Obama’s Council of Economic Advisers. President Biden has raised carbon’s value back to Obama-era levels after the Trump Administration lowered it. Greenstone, who leads the Energy Policy Institute at Chicago, speaks with Pulitzer Prize-winning Washington Post journalist Juliet Eilperin about how we’re just beginning to experience what the climate has in store.

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