Goodbye Stick, Hello Carrot
The federal government can still lead industry to fight climate change
Miguel Modestino, professor of chemical engineering and director of the NYU Tandon Sustainable Engineering Initiative
In his op-ed, Miguel Modestino, Director of the Sustainable Engineering Initiative at NYU Tandon, speaks on the recent supreme court decision that hindered the agency’s ability to mandate a cap on carbon dioxide emissions from power plants.
“Low-profit margins advocate for fossil fuel use in the short-term due to the upfront investment in retrofitting manufacturing plants with new equipment, but in the long term, renewables are poised to confer lasting revenue benefits,” explained Modestino, adding that while the federal government "may not be able to mandate change through regulation, [it] can encourage change through incentives, thus allowing the chemical manufacturing industry to retrofit itself to be more efficient and sustainable through the use of renewable power at scale."
