Macroeconomic Implications for Decarbonization Policies and Actions

Decarbonization brings both risks and opportunities to the macroeconomy. Achieving net-zero emissions by mid-century may involve sweeping changes in technologies, policies, and systems, and the ways in which these changes are implemented may have profound impacts on communities, industries, economies, and nations. To elucidate multiple aspects of the ways in which decarbonization and the macroeconomy interact, the National Academies of Sciences, Engineering, and Medicine, under the auspices of the Roundtable on Macroeconomics and Climate-related Risks and Opportunities, convened a workshop on September 12-13, 2024. In panel discussions, an interactive breakout session, and a poster session, participants explored emerging insights on the macroeconomic and socioeconomic implications of decarbonization strategies and lessons learned from engagement with communities, industries, and governments around decarbonization pathways. This publication summarizes the presentations and discussion of the workshop.

Table of Contents

Front Matter Overview Introduction Current Progress Economic Risks and Opportunities of Decarbonization Barriers to Decarbonization and Solutions Modeling Opportunities and Challenges Incorporating Modeling Insights into Policy Design Global Interactions Breakout Discussions Reflections References Appendix A: Statement of Task Appendix B: Workshop Agenda Appendix C: Planning Committee Biographies Appendix D: Poster Abstracts