Addressing climate change strengthens rather than stifles economic growth

The time is overdue for those who still believe that climate change is a hoax to realize that climate change is real and cannot be slowed down or reversed on its own. Future climate change-related storms and fires will only worsen and at an escalating cost in trillions and deaths by tens of thousands. They must also recognize that addressing climate change aggressively and consistently will not hurt businesses, specifically in the fossil oil and gas production sectors, but to the contrary. It will create new businesses dedicated to producing clean energy in which oil and gas companies can play a significant role, for example, through managing supply chains for renewable energy, and make even more profits.

The US has the resources and scientific know-how to build new and expand current industries that produce clean energy. At this particular juncture, the incoming Trump administration needs to provide federal funding in collaboration with the states to invest in clean energy industries.

This includes advanced battery production to manufacture iron-air batteries for long-duration energy storage, green hydrogen production, building advanced nuclear technology, which is believed to play a significant role in meeting rising power demand, vastly expanding solar manufacturing capability, dramatically increasing all-new utility-generating capacity, and building wind turbine manufacturing facilities both onshore and offshore. Finally, expanding the manufacturing of electric cars and more energy-efficient transportation could dramatically reduce carbon emissions.

The purpose behind all these efforts is not only to hold the increase in global average temperature above preindustrial levels to 1.5° C as stipulated by the Paris Agreement, but also to produce a dramatic increase in job creation. According to the World Economic Forum's Future of Jobs report, new innovations will create many new job opportunities in the clean energy sectors that would not only offset job losses resulting from limiting the use of fossil oil and gas but add millions of new jobs at a net increase of 78 million jobs.

Scores of Republicans in the House and Senate would support a national initiative to invest hundreds of billions of dollars in clean energy if Trump signaled that he would support such legislation without necessarily simultaneously mandating new restrictions on the fossil fuel and gas industry. Given Trump's powerful political sway among Republicans and his mercurial nature, he can change his mind as he has done many times without facing serious opposition from many lawmakers to pass such legislation. And, in this regard, he can count on the near-unanimous support of Democrats.

Many would disagree and insist that given Trump's public position on climate change, there is little or no chance that he will change his mind. Maybe so. They should remember, however, that Trump is not a staunch Republican ideologue. He is not dogmatic and would embrace climate change legislation if it guarantees the expansion of the economy and the creation of millions of new jobs, which is at the heart of his economic agenda.