Technology Race: The Solution to Climate Change?

Key Authors of RFF Report

By: Christine Burns ’14

Finding an economically viable solution to global climate change is an arduous task, but if we want a planet that can continue to support life, than we must take up the challenge.  Assessing US Climate Policy Options is a report written through the Resources for the Future (RFF).  The major contributors to this report are listed in Figure 1. Clearly most of these companies  have something to loose should America shift in a greener direction, so they wanted to share their perspective on the issue. Unfortunately, due to their chance to loose a lot, I do not feel they are in a position discuss these issues without bias. Their report is for the most part an investigation into the economics of climate change policy. Although they did make some valid points, in my opinion, they never supplied a very concrete solution even from an economic standpoint.

This report discussed the economic viability of many different scenarios from cap and trade systems, regulations, emissions reductions, ect, but the most concrete idea I got from this report was the need to invest in technology. Ultimately, technology will allow companies such as the ones in Figure 1. to meet their goals and operate within strict regulations.  Unfortunately, right now sustainable technology is not developing on its own at the necessary rate to have a positive impact on climate change.  So, should the United States decide to tax carbon emitters or sell allowances to companies; that money should then be used to fund technological advancement.  Another way to encourage technological growth would be to put in place strict regulations that would require individual companies to fund technological research in order meet standards.  Personally, I think that government funding in addition to regulations would be the best way to enhance technological development.

The authors of the report point out that most of the world looks to the United States, and if the United States started to reduce its emissions other countries would follow, in fact other countries such as China require that the US lead.  Theoretically, the same could be said of technological development.  If the US started investing serious money into alternative energy, carbon capture and storage (CCS), and greater efficiency of products; other countries might do the same.  Maybe it could even start positive technological competitions as happened with say the space race.  These technological advancements developed could then be shared with the developing countries so that they can finish their development sustainably.  There are many countries sucha as the Maldives and Sub-Saharan Africa that will be greatly impacted by climate change no matter how soon mitigation efforts start Some of that technological development can be used to assist these countries adapt.

The first point that the entire report made was that the United States needed to balance aggressive climate goals and economic viability.  Well, according to Ackerman and Stanton from Tufts University, the effects of climate change within the United States could cost 1.9 trillion dollars a year, or 3.6 percent of GDP.  This number is within the United States alone. It’s hard to even imagine what that could translate into for poorer countries with experiencing stronger effects.  So it is time that changes were made, and the United States has the ability to lead the way.  We live in the age of technology, and their lies our hope for the future.

Works Consulted:

Ackerman and Stanton. 2008. “The Cost of Climate Change: What We’ll Pay if Climate Change goes UnChecked.” Natural Resources Defense Counsel.

Kopp and Pizer, eds., 2007. “Overview,” in Assessing U.S. Climate Policy Options, Resources for the Future, Washington DC, pp. 6-21.