Stern on the opportunities in recession


in Economics, Politics, The environment

Nicholas Stern – most notably the author of an eponymous report on the economics of climate change for the British government – has a piece in The Guardian arguing that the financial turmoil ongoing around the world provides an opportunity to refocus investment on low-carbon options:

The International Energy Agency estimates that world energy infrastructure investments are likely to average about $1 trillion a year over the next 20 years. If the majority of this is low-carbon, and some of it is brought forward, it will be an outstanding source of investment demand. So too will be the investments for energy efficiency, many of which can be labour-intensive and are available immediately.

It makes sense to highlight how the current pause in headlong, high-carbon growth can help us to reorient the global economy. Stabilizing climate requires a constant commitment to reducing emissions: not one that wavers when growth seems to strong to resist or too weak to threaten.

{ 2 comments… read them below or add one }

Alena Prazak October 24, 2008 at 8:55 pm

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Milan October 25, 2008 at 1:02 pm

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