Ada Recinos, Deputy Press Secretary, at ada.recinos@sierraclub.org (Pacific Time)
WASHINGTON, DC – Today, the Sierra Club endorses the Carbon Scoring Act of 2024 introduced by Budget Committee Chairman Senator Sheldon Whitehouse (RI-DI). The bill integrates the costs of climate change and the benefits of climate action directly into the responsibilities of the Congressional Budget Office (CBO). It requires the CBO to develop and maintain models to assess the impact of proposed policies on greenhouse gas emissions across major economic sectors, including energy, transportation, and industry. Because estimates show that climate-related damages could cost the US economy $14.5 trillion over the next 50 years and reduce GDP by 10% by the century's end, every Congressional panel has an important role in rising to the challenge.
Harry Manin, Sierra Club Deputy Legislative Director of Industry and Trade, released the following statement:
“This legislation addresses the undeniable fact that climate change is not just an environmental challenge — it is a profound economic threat. Extreme weather events, food insecurity, infrastructure damage, and geopolitical instability caused and exacerbated by climate change cost the U.S. billions of dollars annually. Outside climate modeling was crucial for Senate Democrats to reach a consensus on the Inflation Reduction Act towards emission reductions and a domestic clean manufacturing Renaissance. By formally bringing these capabilities in-house, Senator Whitehouse’s Carbon Scoring Act will protect key clean energy programs from MAGA attacks and incorporate the true economic benefit of climate action in future budgets."
The Carbon Scoring Act of 2024 will enable Congress to better understand the long-term economic consequences of policies affecting greenhouse gas emissions. By requiring CBO to evaluate how legislation will impact emissions and calculate the social cost of carbon, this bill will provide lawmakers with a comprehensive tool to weigh the financial benefits of reducing emissions against the severe costs of inaction and regression.
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.