Reducing emissions can generate better growth than old high-carbon model, says co-author of report, Lord Stern.
The world can still act in time to stave off the worst effects of climate change, and enjoy the fruits of continued economic growth as long as the global economy can be transformed within the next 15 years, a group of the world’s leading economists and political leaders will argue on Tuesday.
Tackling climate change can be a boon to prosperity, rather than a brake, according to the study involving a roll-call of the globe’s biggest institutions, including the UN, the OECD group of rich countries, the International Monetary Fund and the World Bank, and co-authored by Lord Stern, one of the world’s most influential voices on climate economics.
The report comes ahead of a UN-convened summit of world leaders on global warming next week at which David Cameron has pledged to lead calls for strong action.
“Reducing emissions is not only compatible with economic growth and development – if done well it can actually generate better growth than the old high-carbon model,” said Stern.