Thomas Paine

Thomas Paine
"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now, deserves the love and thanks of man and woman."

Thursday, 6 October 2016

Global economy could 'self-destruct' if world carries on burning fossil fuels, leading economist warns

From the Independent - Professor Lord Nicholas Stern – author of the influential Stern Review on climate change in 2006 – says 'strong investment' in green technologies could finally revive growth in the world economy

"A renowned economist who helped persuade the world to start taking climate change seriously has warned the global economy could “self-destruct” if countries fail to ditch fossil fuels and embrace a clean, green, high-tech future.

Professor Lord Nicholas Stern was credited with bringing about a sea change in attitudes when he calculated the cost of failing to tackle the problem in 2006. While dealing with global warming would cost one per cent of the world’s gross domestic product, doing nothing would be up to 20 times more expensive, he concluded.

Now Professor Stern, former Mexican president, Felipe Calderón, and other leading figures from politics, finance and science have launched a major new report saying Governments and businesses must change course – and quickly.

“The challenge is urgent: the investment choices we make even over the next two to three years will start to lock in for decades to come either a climate-smart, inclusive growth pathway, or a high-carbon, inefficient and unsustainable pathway,” said the report by The Global Commission on the Economy and Climate."

The full article can be read here.

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