Economists say climate change will harm the U.S. economy. They conducted a survey with top economic experts to solicit their views on several key questions about climate change that could affect policy. The pool of economists were selected by searching the top twenty-five economics journals over the past fifteen years and identifying all articles related to climate change. Roughly 300 authors were contacted for the survey. More than half replied.

Who conducted the study?

The Institute for Policy Integrity, New York University School of Law

What were the findings?

The results of the survey showed surprising consensus on some questions but continued debate on others. These are a few of the results shared in the executive summary:

97.9% agreed that placing a price on carbon through a tax or cap and trade system will increase incentives for energy efficiency and the development of lower carbon energy production.

92.3% agreed that most of the environmental and economic effects from greenhouse gas (GHG) emissions would be felt by future generations.

91.6% preferred market based mechanisms, such as a carbon tax or cap and trade system rather than controlled regulation.

84% agreed that the environmental effects of excessive greenhouse gas emissions, posed a significant risk to important sectors in the US and global economies.

80.6% preferred auctioning carbon allowances rather than freely distributing allowances.

86% believed that agriculture would be negatively impacted.

You can download the entire report here.

Sources:
Policy Integrity
Environmental Leader

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