Economics and Finance
The economic case for the United States to remain in the Paris Agreement on climate change
Topics: Economics and Finance
Type: Collaborative publications
Publication date: August 2020
This policy brief examines the economic case for the United States to continue its participation in the Paris Agreement on climate change. It looks at four main themes: the economic impacts of climate change on the United States; the economic damage caused to the United States by other countries’ greenhouse gas emissions; the economic implications of the participation by the United States in the Paris Agreement; and global action to reduce economic damage from climate change in the United States and the rest of the world.
- Staying in the Paris Agreement would result in significant economic benefits for the United States, its trading partners, and the world economy; withdrawing is a mistake.
- The emissions reduction targets that the United States set for itself in the Paris Agreement are now easier to achieve, for reasons including sharp falls in technology costs.
- The US Government should abandon its intention to withdraw from the Agreement, or promptly re-join after withdrawal is executed.
A complementary report assessing the Trump Administration’s economic and policy arguments for withdrawing from the Paris Agreement can be downloaded here.
Authors: Alex Bowen, London School of Economics and Political Sciences, Marshall Burke, Stanford University, Charles Donovan, Imperial College London, Kenneth Gillingham, Yale University, Frances C Moore, University of California, Robert Stavins, Harvard University, Gernot Wagner, New York University and Bob Ward, London School of Economics and Political Sciences
[Image: Capitol Building, Washington, United States]