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Climate Policies That Yield Present-Day Benefits

Climate change mitigation policy is often framed as a tradeoff between the welfare of the present generation and that of future generations. In this new PERI working paper, James K. Boyce, Director of PERI’s Program on Development, Peacebuilding, and the Environment, writes that it is possible to design climate policies that bring near-term benefits to individuals today. Boyce considers two benefits: the cost savings of reducing outdoor air pollution (including those associated with 3.7 million of premature deaths annually worldwide), and income gains from egalitarian distribution of the rent created by carbon pricing.

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