The American Environment Protection Agency (EPA) has calculated the financial benefits of the US Clean Air Act, and says it has saved more than $21 trillion (21 x 1012). Taking the estimated monetised benefits of the Act from 1970 to 1990 – in the areas: mortality, chronic bronchitis, lost IQ, hypertension, hospital admissions, respiratory-related problems, soil damage, visibility and agriculture – the savings come to $22.171 trillion.
By contrast, the compliance costs – cleaner air, water etc – total $500 billion (500 x 109) over the same period. The EPA’s cost/benefit estimates for the 1990 Clean Air Act amendments, aimed at combating acid rain, ozone destruction and other air pollutants, are forecast to be equally beneficial in financial terms.
Uphold the European Green Deal
The Commission must champion the Green Deal as a strategy for hope, resilience and fairness. Now is the moment to lead with courage – and to invest in...
Connecting European railways
Reorienting the Connecting Europe Facility programme to support swifter network integration
Seven rail megaprojects capitalize EU funds
The EU should reduce its emphasis on megaprojects to focus future funding on rail infrastructure upgrades which would generate more rapid and widespre...