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Making the Transition: Helping Workers and Communities Retool for the Clean Energy Economy
By Elena Foshay, et. al. - Apollo Alliance and Cornell Global Labor Institute, August 11, 2020
We stand at a critical moment in American history. We face a choice: do we continue with business as usual, ignoring the climate implications of current energy, environmental, and economic policy? Or do we move forward with a new set of priorities aimed at promoting climate stability, energy security, and economic prosperity?
Though this is sometimes seen as a choice about environmental policy, it is fundamentally one about the future of the American economy. The path we take will have huge and long-ranging implications. We know that doing nothing – that is, ignoring global warming and continuing on our current energy-intensive path -- will exact incredible social and economic expense. According to the Stern Review on the Economics of Climate Change, doing nothing to curb carbon emissions will result in a 5-20 percent loss in global GDP, an economic downturn equivalent to the “Great Depression and the two World Wars” combined.
By contrast, doing something – putting a price on carbon, and investing significant dollars into industrial efficiency, advanced energy technologies, and renewable and efficient energy alternatives – will generate important economic benefits: the Apollo Alliance estimates that a $500 billion federal investment in clean energy over the next ten years will create 5 million jobs, and the United Nations Environment Program reports that investments in renewable energy and energy efficiency will generate jobs and economic growth worldwide.
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