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Economic Shutdowns Are Costly Ways to Reduce Emissions


07.13.20

Washington, DC –Global emissions rates have decreased during COVID-19. This is no surprise after communities shut down entirely and many Americans worked, learned, and received health care from home.

In fact, this economic shutdown caused an 18 percent drop in emissions rates in the U.S. alone from March 15 to June 15 of this year, according to a new study from the Rhodium Group. The findings also demonstrated the already well-known economic costs for this cut in emissions — $3,200-5,400 per ton of CO2 reduced on average this year.

Shutting down our economy is not a feasible way to lower emissions. The way to bring relief and results to the American people for future generations is through innovation, and that’s why E&C Republicans are leading the way to update our energy infrastructure, support U.S. jobs, expand access to clean energy, promote nuclear advancement, protect natural gas resources, and strengthen our energy security.

You can learn more in POLITICO Pro below, and read the full study from Rhodium Group HERE.

POLITICO Pro

Study: Pandemic cut U.S. greenhouse gases, but at high cost

By Zack Colman

July 9, 2020

U.S. greenhouse gas emissions tumbled 18 percent this spring as the economy seized up because of the coronavirus pandemic, according to a new analysis released on Thursday.

And U.S. emissions of carbon dioxide, the main contributor to climate change, and other heat-trapping gases could see a lower growth trajectory through the end of the decade because of the health crisis, according to the researchers at the climate consulting firm Rhodium Group.

But the declines in greenhouse gas pollution from March 15 to June 15 came at a huge economic cost, Rhodium said, and even if emissions are lower than pre-pandemic forecasts through 2030, they are still far short of the reductions that scientists say will be needed by mid-century to avoid the worst effects of climate change.

“The emission reductions associated with our scenarios, while sizeable, are certainly no cause for cheer. The economic damage and human suffering of COVID-19 has already been substantial and will likely continue for some time,” the report said.

The analysis found greenhouse gas emissions will likely be 6 to 12 percent below pre-Covid-19 projections through the end of the year, amounting to “the largest annual drop in GHG emissions in recorded history.” Through 2030, emissions could fall between 2 to 12 percent relative to the pre-pandemic baseline.

Click HERE to read more.

 

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