EP 193 - Climate Change: How it’s Changing our Economic Future & the Role of Policy, Economics and Individual Action

Climate change is a pressing challenge with profound implications for our economy, prompting a comprehensive exploration of its intersection with economic factors. This discussion seeks to elucidate the far-reaching effects of climate change and the potential roles of policy, economics, and individual actions in mitigating its impact. 

The economic consequences of climate change are not abstract; they directly influence our daily lives and financial well-being. Extreme weather events, on the rise, lead to economic fallout, impacting communities through increased insurance premiums, strain on local services, and disruptions to crop yields affecting grocery prices. 

However, embracing sustainable practices offers economic opportunities. The shift to a greener economy creates jobs in renewable energy, fosters innovation, and stimulates economic growth. Supporting eco-friendly businesses and demanding sustainable products allows individuals to drive positive change in the market. 

Governments play a crucial role in addressing economic consequences. Policies targeting greenhouse gas emissions, carbon pricing, and incentives for renewable energy aim to reduce the economic impact of climate change and foster sustainable growth. Economists contribute by identifying effective, cost-efficient policies for emission reduction. 

Individuals also play a significant role. Consumer choices, such as supporting eco-friendly products and businesses, send powerful signals to the market. This discussion emphasizes that understanding the economic dimensions of climate change is accessible to everyone, urging mindful consumption as a means of contributing to a collective movement toward sustainability. 

Host Bernice Butler explores and unpacks the economics of Climate change with Dr. Michael Mann, University of Pennsylvania, Adam Kent, Natural Resources Defense Council and Angela Betancourt, Net Zero.

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