The most recent communique from the G20 drops all references to climate change, a move reportedly instigated by the United States, Saudi Arabia and others. The omission is a setback, as climate finance benefits U.S. jobs and exports and is key to meeting global climate targets.
The social cost of carbon helps analysts assess the economic benefits of climate action and costs of inaction. Dropping it, as the Trump administration is considering, will prevent the government from using the best available science in decision-making or holding polluters accountable.
Think of the shift to a low-carbon energy system like a savings plan for retirement. Starting at 45 won't provide the savings you need in your senior years, but starting at age 25 will, and at less overall cost.
With $25 trillion in global energy infrastructure to be built by 2030 and wind and solar becoming cost competitive, a clean energy revolution is underway. The American people and the economy would benefit from joining this movement.
Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act required that oil, natural gas and mineral extraction companies report payments made to foreign governments. Congress and President Trump eliminated it last week.
The United States spent $2.6 billion in 2015 to support climate action in developing nations. This finance represents just 0.07 percent of the federal budget, but boosts U.S. business, promotes development and improves national security.