A rapid green transition risks disproportionately burdening the poor
Energy costs represent a larger share of the budget for lower-income households. Consequently, any energy regulation aimed at combating global warming would disproportionately impact the poor compared to the wealthy.
“Energy burden” studies indicate that carbon regulations would place a heavier strain on the lower-middle class than on the affluent. This added burden exacerbates existing inequalities and contributes to the slow progress in the fight against global warming. While a small percentage of the upper-middle class may embrace green initiatives regardless of cost, the majority may resist, feeling unfairly burdened.
The poor cannot be sacrificed in the effort to combat global warming. Harsh regulations that accelerate the green transition at the expense of the poor are unsustainable. Such measures would likely be met with strong resistance, leading to the election of radical politicians who would roll back green regulations. This fear of political radicalization is a key factor in the ongoing inaction on global warming.