Business Roundtable, an association of chief executive officers of leading U.S. companies, recently released a major policy study that includes extensive economic modeling analysis performed by Keybridge Research.
Business Roundtable, an association of chief executive officers of leading U.S. companies, recently released "The Balancing Act: Climate Change, Energy Security, & the U.S. Economy", a major policy study that includes extensive economic modeling analysis performed jointly by Keybridge Research and the University of Maryland. The study represents the culmination of a year-long collaborative effort between Keybridge Research and Business Roundtable member companies – including leading producers, consumers, and innovators in the area of advanced energy technologies – to better understand how the combination of smart public policies, cutting-edge technologies, and well-functioning markets can be leveraged to build a more economically and environmentally sustainable future.
In short, the study found that without policy leadership – that is, supportive policies to remove barriers to new technology – imposing a price on carbon will cause real GDP to be approximately 2 percent lower than it would otherwise be in 2050. In contrast, policies that advance a balanced portfolio of technologies were found to deliver almost twice the GHG reductions at roughly half the economic cost, while also enhancing America’s energy security. In fact, the results suggest that a balanced portfolio approach is the only approach that is likely to achieve the large-scale reductions in GHG emissions that many policymakers are targeting.