Your Climate Disaster Tax Bill is Growing
New York Times op-ed
In a recent op-ed in the New York Times, RMI’s Paul Bodnar and Tamara Grbusic not only explore the terrifying cost of inaction on climate change but also look at the fiscal threat that this represents to the US federal government and ultimately American taxpayers.
This is the latest analysis by RMI on the financial implications of climate change. Read more about RMI’s work on this critical topic:
Our Work On The Stimulus
Global Stimulus Principles
The Economy We Build Should Not Be the Same Economy We Decarbonize
The report articulates four core principles of strategic stimulus and recovery for global responses to the COVID-19 pandemic and economic downturn that can simultaneously benefit the economy, the environment, and our communities. These principles provide an important framework for planning and evaluating future stimulus efforts.
US Stimulus Strategy
Recommendations for a Zero-Carbon Economic Recovery
The report recommends four key programs that US policymakers could direct stimulus investment toward to support short- and long-term recovery from the COVID-19 pandemic and economic downturn while ensuring progress on the climate crisis.
Achieving a Green Recovery for China
Putting Zero-Carbon Electrification at the Core
China has come through the COVID-19 pandemic with far fewer infections and deaths per capita than major Western countries. Its factories and distribution systems have returned to normal operations faster than expected. But with exports to Europe and the United States now likely to be severely depressed by recessions in those regions, China faces a year of slow growth and will need to stimulate domestic demand to spur economic recovery and job creation.
Green Stimulus in the Caribbean
Resilient Distributed Energy Resources Can Support Job Creation and Economic Diversification
Distributed energy resources (DERs) bring multiple benefits not only to electricity systems but also to communities and economies. Many islands in the Caribbean are transitioning from electricity systems that are traditionally centralized in nature and powered by fossil fuels to a new paradigm incorporating DERs.
Climate Alignment Work
RMI’s Climate Finance program also advises financial institutions on climate alignment, which is the process of aligning investments with a pathway to limit global greenhouse gas emissions to remain in line with the Paris Agreement.
Five Barriers to Alignment and How a Sectoral Approach Can Help
This brief outlines five common barriers that institutions face when attempting to achieve climate alignment, and details how a sector-by-sector approach to alignment can provide an efficient, pragmatic, and effective way forward.
Charting the Course to Climate-Aligned Finance
As the world comes to grips with the magnitude and speed of the economic transition needed to avert catastrophic climate change, the vital role of finance is coming into focus. Nowhere is this more apparent than in recent climate commitments by major financial players: within the last two years, financial institutions representing $17.2 trillion have committed to align their portfolio emissions with the temperature goals of the Paris Agreement.
More Writings By Paul Bodnar And Tamara Grbusic
Green Banks 101
Countries around the world have committed to undertake ambitious climate action as part of the Paris Agreement. However, development of climate solutions cannot be solely dependent on limited concessional funds from multilateral institutions. Instead, they must be country driven and enabled by local ownership that drives investment and attracts both domestic and private capital. That’s where green banks come in.
Green Banks for Economic Recovery and Climate Mitigation
There is a way to facilitate economic recovery while addressing the climate emergency. The answer lies in green investment banks.
Oil Market Disruptions and Climate Action Tipping Points
A series of synchronous disruptions should be an impetus for climate-aligned corporations and investors to accelerate the shift of capital needed to fuel the clean energy transition, which can help to avoid the future disasters that will be the inevitable result of climate change.
The Promise and Challenges of BlackRock’s Climate Commitment
As the world’s largest investor, with over $7 trillion in assets under management, BlackRock is a prime mover in global finance. This makes all the more significant BlackRock CEO Larry Fink’s declaration that climate change would drive a “fundamental reshaping of finance.”