Waiting 10 years to start eliminating emissions will cost the US more than $3.5 trillion

When it comes to climate change, the world is on two different timelines. Since 1988, or even the 1890s, scientists have said (with increasing urgency) that eliminating greenhouse gas emissions will be essential to avoid a warming climate. Until recently, lawmakers responded with the policy equivalent of, “We’ll deal with this later.”

A new study from the nonpartisan energy policy firm Energy Innovation places a precise dollar figure on the cost of procrastination. The group analyzed the cost to the US economy of waiting 10 more years before passing policies...