The amount of heat storing emissions humans have injected into our atmosphere since last Earth Day has been 10% less than a typical year, which would be cause for celebration if it weren’t for a blatant fact: the reduction in carbon pollution will only be achieved by short lived as the global economy recovers from the effects of the COVID-19 pandemic.
Although emissions fell briefly, the effects of climate change in 2020 were more devastating than ever. Atlantic hurricane season broke with 30 records for the number of named storms, so many that the World Meteorological Organization ran out of names and had to use the Greek alphabet. AccuWeather estimates the economic impact of these storms at $ 60 billion to $ 65 billion.
Hawaii’s economy continues to suffer more than most from our massive reduction in tourism required to deal with the coronavirus pandemic.
The 2020 storm season also saw another worrying phenomenon related to climate change – the rapid increase in storms that can put deadly hurricanes in the way of coastal communities with little time to evacuate. The rapid intensification is caused by ever warmer ocean temperatures.
While hurricanes raged in the east, wildfires raged in the west, where drought and record temperatures contributed to one of the worst fire seasons: The U.S. wildfires burned 10.27 million acres in 2020, killing at least 43 people and causing damage up to 16.5 Billion dollars.
The human and financial toll is significantly higher when the health effects of a smoky sky are considered. A study of the 2018 California forest fire season found that when the indirect effects of smoke – hospital stays, lost wages, etc. – are factored in, the economic damage was $ 150 billion.
Winter offers no recovery from the effects of climate change. Scientists say the rapid warming of the Arctic played a role in weakening the jet stream that contains the polar vortex. That slowdown enabled sub-zero temperatures to reach the Texas Gulf Coast earlier this year, turning off electricity and heat for millions of people.
We are feeling the effects of climate change here in Hawaii, and the coronavirus pandemic has given us a preview of what will happen if we don’t make climate change a top political priority. The prolonged economic downturn caused by the pandemic has resulted in massive losses in business, tax and government revenues, and this is exactly what will happen again and again as Hawaii comes up against the obvious dangers of more frequent prolonged weather events like floods or droughts and sea levels rise.
The state’s annual revenues are declining by about $ 300 million, mainly due to the decline in tourism, which accounts for more than 30% of Hawaii’s gross domestic product. With such a prolonged and steep decline, the general coffers of the state will be strained for several years, as will our local businesses and workers. And while the service impact was felt across all communities, the underserved and lower-income people were hit particularly hard.
Expect more of these negative economic outcomes if we fail to make mitigating climate change a priority at both state and federal levels. It is not an exaggeration to say that the threat to Hawaii is existential. We need to act urgently and driven by data and science.
The frequency of disasters, which affect almost all parts of the country, will continue to increase with temperatures. Unless ambitious steps are taken to curb emissions of warming gases, these disasters will be beyond our ability to adapt and recover.
Of the many tools needed to reduce emissions, a solid price on carbon is the most effective and fundamental. The key is to set a price high enough to attract investment and behavior towards a quick transition to a clean energy economy. By returning revenue directly to households, protecting Americans from the economic impact of higher energy costs, we can set a price that gets the job done.
The end game is to achieve net zero carbon emissions by 2050. Only then can we imagine a world in which not every day on earth marks a year of worsening climate change.
A recent study by economists at Columbia University estimated the level and timing of a carbon price to meet this goal. The price should be between $ 34 and $ 64 per tonne of CO2 emissions by 2025 and between $ 77 and $ 124 by 2030.
Several bills using the fee-and-dividend approach to carbon pricing fall within the range required to achieve the required emissions reductions:
- The Energy Innovation and Carbon Dividend Act in-house, sponsored by Rep. Ted Deutch (D-FL-22)
- America’s Senate Clean Future Fund Act sponsored by Sen. Dick Durbin (D-IL)
- The American Opportunity Carbon Fee Act, sponsored by Sen. Sheldon Whitehouse (D-RI), is due to be introduced shortly.
By sharing responsibility for these bills, US sensors Brian Schatz and Mazie Hirono and Reps. Ed Case and Kai Kahele are helping Congress launch this important tool this year.
Half a century ago, the first Earth Day started a movement that led to cleaner air and water for all Americans. This year’s Earth Day comes at a time when more and more Americans are feeling the effects of climate change in person. It is time for Congress to act, and an ambitious price on carbon is a big step in the right direction.
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