Background

Since 2007, the U.S. has reduced greenhouse gas emissions by over 500 million metric tons. This effort has garnered international attention, yet there is still much more to be done. Innovation and new technologies have paved the way for a cleaner future, even while other parts of the world produce ever greater shares of emissions.

Regulation is certainly warranted, but a focus on improving technology and techniques must remain a chief priority so we can achieve better, safer, cleaner outcomes in America and export that innovation to other parts of the world. The challenge of climate change is a global one, American leadership and innovation will be essential.

The Challenge

The first challenge in understanding and combatting such a polarizing and complex topic as climate change is separating fact from fiction. This is harder than it seems, because on its own, data cannot prescribe policy or even inform the true nature of certain problems or solutions. All data must be interpreted, analyzed, and viewed through a framework, worldview, or set of assumptions. This is often then cast as a narrative. Critical, then, is understanding where positive descriptions end and normative judgments and policy prescriptions begin.

The data shows warming. Climate change is a reality that must be confronted. Part of the problem is a technical one– our society, as well as nature, emits many warming gases. Innovating to prevent that cannot be done overnight. And regulating those emissions away still requires the technology to arrive on scene and at scale.

When we do get to policy, it is important have clearly defined goals. If the goal is to achieve lower carbon emissions, that can be done through reducing energy consumption, meeting demand with low-emissions or emissions-free resources, or by improving technology, like energy storage, to better align energy production and consumption – or all of the above. This is where costs and benefits must also be central. Energy raises standards of living, lifts people out of poverty, allows the cultivation and transportation of food, goods, and resources, and warms or cools homes. Risking these things to lower global carbon emissions may be too costly for not enough practical benefit.

Finding those boundaries is essential for businesses, policymakers, and government bodies. Agreeing on the best course of action, however, remains a challenge. Adding to this is the problem that other nations produce greater emissions and have different policies and standards for enforcement. If it falls on the United States to pave the way on climate change, we must be ready to solve problems and export the solutions and technology to the most critical areas around the globe.

The Solution

There are many ways to approach climate change and conservation challenges. These may be through economics, tax policy, innovation in the lab, or community efforts to plant trees and safeguard local wildlife. While each of these is a needed piece of the puzzle, and they must be pursued, the two we focus on are innovation and resiliency. Surprisingly, the use of voluntary carbon offsets may be one key to unlocking future innovation in addition to mitigating emissions.

Innovation

There are virtually no problems that cannot be innovated around. When we wanted to put a man on the moon, we invented the math. Humans have incredible capacity to solve problems and imagine new possibilities.

Not long ago, the global climate challenge seemed insurmountable. Now, innovators are literally sucking carbon straight out of thin air. Power storage and batteries are improving and scaling at costs unheard of a decade ago – making wind and solar power more feasible. Scrubbers have taken the dirty air pollutants from coal out of the equation. Drones are mapping and planting new forests and replacing the slow, back-breaking labor of tree planting. These innovations tackle the global problem one element at a time.

We must have public policy and regulation that fosters innovation. That means encouraging innovators to try new things and bring them to the market, and not prescribing how they must go about different practices. We must limit new emissions and counteract the old ones through new technology that promotes higher standards of living and allows robust energy consumption. An innovative way to achieve this outcome may be through the use of voluntary carbon offsets*. These enable individuals and organizations to pay for an amount of carbon dioxide to be removed through carbon capture and other offsetting technologies and practices. This means money is allocated directly to innovators and entrepreneurs creating climate solutions, and over time, may help jumpstart a standalone climate industry sustained by a circular carbon economy*.

There are many ways to approach climate change and conservation challenges. These may be through economics, tax policy, innovation in the lab, or community efforts to plant trees and safeguard local wildlife. While each of these is a needed piece of the puzzle, and they must be pursued, the two we focus on are innovation and resiliency. Surprisingly, the use of voluntary carbon offsets may be one key to unlocking future innovation in addition to mitigating emissions.

Infrastructure Resiliency

We cannot control the climate, and while we must strive for cleaner, more efficient, and conservation-oriented solutions, threats to life and property are happening now. Whether storms are becoming more frequent, stronger, or remaining about the same, we know the damage that comes from a Category 5 hurricane or an F5 tornado.

Building infrastructure capable of withstanding any natural disaster or weather phenomenon – and avoiding blackouts when these instances occur – is every bit as impactful as efforts to mitigate future disasters through emissions reductions. Levees and flood management must be improved, undergrounding of utilities should be considered, and investments in a smarter grid are essential for living through the storms to come.

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