The spread of COVID-19 is first and foremost a global public health crisis, but as it unfolds, it becomes an economic crisis too. Thousands of Americans have died and thousands more are hospitalized, it has thrown millions out of work, closed businesses and pummeled a growing economy into recession. It’s heartbreaking and frightening for so many and it is changing our lives!
Amid this COVID-19 pandemic is Earth Day. Earth Day is an annual event celebrated around the world on April 22 to demonstrate support for environmental protection. Environmental protection in part, is to conserve natural resources and the existing natural environment and where possible to repair damage and reverse trends. It was on Earth Day 2016, that the landmark Paris Agreement was signed, an agreement dealing with greenhouse-gas-emissions, one of the largest factors in man-made climate change, and the biggest threat to our environment.
While the COVID-19 pandemic and climate change are inherently different issues, they share some common traits, most poignantly they are both a global public health crisis that threaten the lives of millions of people, and, both present an enemy we cannot see, that of a virus and that of a gas. Similarly as we have already learned, states that enacted early detection measures for the COVID-19, quickly allocated medical resources and issued social distancing measures, have fared better than states that were slower to respond. This lesson of preparedness also applies to the climate change crisis. We need to act quickly to alleviate future worst-case climate scenarios, rather than waiting for the disaster to peak before acting.
There are also significant ways in which the pandemic and climate change differ. The pandemic won’t last forever. The emergency measures are short term — until the outbreak is managed or a vaccine is developed. The fight against climate change is a long-term problem, it’s not temporary, and requires completely rethinking many of our industries and ways of life and not responding will lead to a far worse alternative. Climate change will seriously disrupt economies, reduce food security and place greater strain on health services, as a warmer world means more disease, famine, deaths from natural disasters and pollution, as well as mental health problems.
What can be done? The good news is, there is a solution! It is called the Energy Innovation and Carbon Dividend Act (HR 763), a large-scale climate solution which was introduced with bipartisan sponsorship in January of 2019. The bill places a fee on the emissions from fossil fuels (greenhouse gases) to accelerate the transition to a cleaner, healthier economy. Emissions drop 40% in 12 years. All the net revenue is returned to American households on an equal-share basis as a monthly carbon dividend. In most households, the dividend would be greater than or comparable to any potential increase in costs caused by the carbon emission fee. Lower income households gain the most because they consume less. It’s clear that money in the hands of Americans help keep our economy running. Congress and the President recognized this idea for the current crisis as they passed the CARES Act, the COVID-19 relief legislation. HR 763 tackles climate change using the market to drive innovation, doesn’t grow the size of government, and preserves maximum flexibility for consumers and businesses.
The idea of putting a price on carbon as in HR763 isn’t new. The concept was supported by both Nordhaus and Romer, co-winners of the 2018 Nobel prize for economics. It was Romer who said, ‘The problem is not knowing what to do, the problem is getting a consensus to act’.
COVID-19 has proved it is possible to make dramatic changes and economic sacrifices to save lives. It shows that if we need to take action we can. Please contact our U.S. Representatives Bob Latta and Marcy Kaptur, and U.S. Senators Rob Portman and Sherrod Brown for governmental action supporting this legislation. Let them know we are counting on them.
The world has been given a trial run with this pandemic. Let’s put what we’ve learned into action. Support the Energy Innovation and Carbon Dividend Act (HR 763). Whatever we do today will impact our tomorrow!
Dan Burgard
Perrysburg
