A report commissioned by the William and Flora Hewlett Foundation on the economic impact of reducing greenhouse gas emissions denies the commonly held view that strict regulatory measures are detrimental to growth.
The study, which involved a team of economists from Stanford and the Ministry of the Environment of the State of Sao Paulo (Brazil), shows that in the case of California and Sao Paulo (respectively 20th and 39th sources of the planet's GHG emissions), restrictive measures have made it possible to generate considerable overall benefits, in particular through energy efficiency measures.
Over the 1975-2003 period, gains are valued at 56 billion for California and about 12 billion for Sao Paulo (1980-2003).
The Stanford study, which stands as the first large-scale study on the economic impact of limiting greenhouse gas emissions, provides a rationale for the policy pursued by the Governor of California, Arnold Schwarzenegger, who targets an 80% reduction in emissions by 2050 compared to the 1990 reference.
Editor: Philippe Jamet, email@example.com
source: Stanford study