New York has the potential to enact a 1st-in-nation statutory requirement to reach a carbon-neutral economy by 2050. That's a big deal & why I just delivered a letter from 35 scholars calling on @NYGovCuomo & the legislature to get the job done this session--A thread to explain
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Here's the full text of the open letter, signed by 35 academic experts in energy engineering, climate science, economics, law, and policy from NYU, Columbia, Cornell, and other New York institutions as well as Harvard, Princeton, MIT, and many others.https://www.dropbox.com/s/65mj5qf4nfx3cms/Scholars%20Letter%20043019.pdf?dl=0 …
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Signatories include:
@inesliaz@east_winds@SteveDavisUCI@MichaelGerrard@cdgervich@denisegrab@JMGinNYC Geoff Heal@ColumbiaSIPA@ElephantEating Dale Jamieson@nyuenvrstudies@PauliJllo@JesseJenkins@jxjohnson@dan_kammen@davidrkanter@vjkarplus +++2 replies 1 retweet 9 likesShow this thread
"Carbon-neutral" implies replacing oil and gas furnaces with heat pumps. However, since utilities recover costs over 65 to 85+ years, ending gas burning by 2050 (in 31 years) will produce stranded assets. Thus, we must accelerate depreciation now!
#ManagedDecapitalization
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