Y2Kyoto: Money For Nothin'
By Kate on April 20, 2016 9:21 AM
"The Paris Agreement will do little to reduce the rate of warming but will divert trillions of dollars into low-carbon technologies, thereby reducing innovation in other areas, slowing economic growth and hindering adaptation and resiliency," Julian Morris, vice president of research at Reason Foundation, writes in a new policy brief examining the expected results and effectiveness of the Paris climate deal.
"Innovation and associated economic development will likely be the most effective means by which humans address climate change. But the commitments made under the Paris Agreement would divert trillions of dollars into low-carbon technologies and government-funded schemes for mitigation and adaptation, thereby undermining the bottom-up processes that drive more widespread innovation and, as a result, impeding the ability of people to adapt to climate change and other threats," Morris says. "Given the potential for the Paris Agreement to result in harmful and even counterproductive restrictions on economic activity, it would appear that ratification is not in the interests of the majority of signatory nations."
Reason Foundation - The Paris Agreement: An Assessment