EPA Administrator McCarthy’s powerful speech about economics and climate change
Statement of EDF economist Gernot Wagner
“EPA Administrator Gina McCarthy gave a powerful speech today about the costs of climate change, and how economics can help ensure a safe future for our planet and our children.
“She was absolutely right when she said, ‘when it comes to climate change, the most expensive thing we could do, is to do nothing.’ Standard economic analysis demonstrates that taking strong action to protect the planet pays for itself many times over. When EPA, the IMF, the World Bank, and almost every academic economist having looked at the question agree, that’s a sure sign that we must act.”
“As the Administrator said, ‘We don’t have to choose between a healthy environment and a healthy economy. They’re not separate — they’re intertwined. A world-leading economy depends on a healthy environment and a stable climate.’ I could not agree more. The best investment we can make in America’s future is to take steps to prevent the risks, and the cost, of climate change.”
— Gernot Wagner, Lead Senior Economist at EDF