No Contradiction Between Climate Progress and Economic Growth

In September 2014, with the U.N. Summit on the horizon, the Global Commission on the Climate and the Economy released a consultation document, Better Growth, Better Climate, which culminates in a 10-point plan of key recommendations, aimed at the international community of economic decision-makers.

According to The Guardian newspaper, this report is the most significant intervention in climate politics for Lord Nicholas Stern since his 2006 report. “The report from the international commission concludes that making progress on the climate would not come at the expense of the global economy, but that there will have to be a sharp shift away from carbon-intensive fossil fuels if the world is going to avoid the worst impact of a changing climate”. See reaction at The Guardian at: http://www.theguardian.com/world/2014/sep/16/barack-obama-report-economy-grow-fight-climate-change-un-summit?CMP=EMCENVEML1631.

The Toronto Globe and Mail reaction honed in on the implications for Canada’s oil and gas industry of the report’s call for higher carbon pricing and the elimination of fossil fuel subsidies – see http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/oil-reliant-firms-at-risk-report/article20607843/#dashboard/follows/. Paul Krugman wrote an OpEd in New York Times on Sept.18 at: http://www.nytimes.com/2014/09/19/opinion/paul-krugman-could-fighting-global-warming-be-cheap-and-free.html.

The Global Commission on the Climate and the Economy was commissioned in 2013 by seven countries, with its programme of work conducted by eight research institutes, led by Washington-based World Resources Institute. The Commission is chaired by former President of Mexico Felipe Calderón, and includes Nicholas Stern amongst its other prominent members. Read Better Growth, Better Climate: the Synthesis Report at: http://static.newclimateeconomy.report/TheNewClimateEconomyReport.pdf.

 

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