Report: Taxing Carbon and Giving the Revenue Back to Families Can Boost the Economy, Lower Carbon Emissions, and Save Lives

  • A 2013 report from REMI, a consulting firm commissioned by Citizens Climate Lobby, shows that taxing carbon and rebating all of the revenue back to families is a net benefit for the U.S. economy (in each year, economic output is higher than in a scenario without the policy).

  • The report finds that this "carbon fee and dividend" approach reduces five times as much carbon emissions in 2030 than the Clean Power Plan.

  • The report also shows that the policy can prevent over 13,000 premature deaths and give the average family of four a $350 monthly check to compensate them for higher energy prices by 2030.

Citibank: Cost of Doing Nothing About Climate Change is Far Higher Than Cost of Reducing Emissions

  • Citibank estimates that global damages from doing nothing to reduce greenhouse gas (GHG) emissions range from $5 to $44 trillion of net present value (global GDP is currently $80 trillion), noting that these estimates likely undercount the true value of total damages.

  • The study estimates that the cost of investments to reduce GHG emissions range from $2 to $5 trillion of net present value.

  • The study also shows that the return on investment in reducing GHG emissions ranges from between 3% and 10% by 2040.