In an interview with Yale Environment 360, economist Gary W. Yohe talked about his primary field of research these days: the economics of climate change. Yohe, the Woodhouse/Sysco professor of economics at Wesleyan University, discussed his ideas on how to use economic tools to reduce greenhouse gas emissions and to adapt to environmental changes as the world warms. He believes that a tax on carbon is preferable to a cap-and-trade system and that the most important aspect of the tax is that it increase gradually and steadily, which will drive the development of renewable sources of energy. Yohe also argues that the uncertainties surrounding global warming — how much CO2 will be in the atmosphere? what is the expected range of temperature increases? — are no excuse for inaction. As Yohe sees it, a prudent risk-management strategy dictates significant cuts in greenhouse gases and immediate planning to adapt to rising sea levels and other effects of climate change. Such strategies can be fine-tuned later, he says, as the extent of warming becomes clearer.
Click here to read the full interview.
Click here to read the full interview.