The Commission calculates that if fully implemented, its recommendations could potentially achieve up to 90% of the emissions reductions needed by 2030 to avoid dangerous climate change. This would require decisive and early action by economic decision-makers.
Over the next six months, the Commission will discuss the report with economic decision-makers across the world. It aims to stimulate stronger action by governments and businesses to drive growth and emissions reductions together.
Commission Chair Felipe Calderon said, “The message to leaders is clear. We don’t have to choose between economic growth and a safe climate. We can have both. We can choose better growth and a better climate.”
“Our report finds that combating climate change and moving the economy forward can be mutually beneficial. The new climate economy links progress with growth through returns on clean energy investments, green bonds, and other financial and economic innovations,” said Chad Holliday, Board Chairman, Bank of America.
“Climate change is an immense environmental and economic challenge. In contrast with the financial crisis, we have no ‘climate bailout option’. Putting a price on carbon would be an indispensable first step towards a low-carbon economy. The New Climate Economy report explains how this and other key policies can help us meet our climate goals,” commented Angel Gurría, Secretary-General, Organisation for Economic Co-operation and Development (OECD).
Maria van der Hoeven, Executive Director, International Energy Agency (IEA), added, “The New Climate Economy report’s fundamental message – that economic growth and addressing climate change must go hand in hand – is one with which I fully agree. In the energy sector, climate policies will not be successful unless they also deliver secure energy supplies, underpinning countries’ growth and development needs. And energy systems cannot be secure unless they also address environmental constraints. I urge governments to carefully consider the options presented in this report to advance economic, social, and environmental objectives together.”
“The financial sector has a major leadership and business opportunity to accelerate environmentally and socially responsible investments which boost income and spread wealth. Taking up this challenge will demonstrate our sector’s important role in society,” said Caio Koch-Weser, Vice Chairman, Deutsche Bank Group.
Sri Mulyani Indrawati, Managing Director and Chief Operating Officer, The World Bank, commented, “We now know that climate action does not require economic sacrifice. This is fully in line with the World Bank Group’s findings. It is up to all of us to make smart policy choices that will help combat climate change. For example, putting a price on carbon is a necessary step and could drive resources and investments to a cleaner economy.”
“Houston has proven that it can maintain its title as the energy capital of the world while at the same time pursuing green policies and new technologies that lift our reputation as a world leader in sustainability. But we must not stop. We must continue to reduce greenhouse gas emissions and lower our climate risk. This is not only good for the health of our residents and our city, but we know it also improves our economic performance and growth,” added Annise Parker, Mayor of Houston.
“We can tackle climate change without compromising world prosperity. To do so, we have to invest in growth that is inclusive, resilient and climate friendly. In our role as an insurer and investor, we confront climate risks head on and seek ways to advance the low-carbon economy,” commented Michel Liès, CEO, Swiss Re.
Sharan Burrow, General Secretary, International Trade Union Confederation, said, “There is no option but to transform our world to a zero carbon future. We will fight to ensure that no one is left behind. This report breaks new ground and gives workers and businesses the confidence that there can be an economic plan which creates jobs and sets our planet on the course for survival.”
“The New Climate Economy report sends a clear and powerful message that policies to combat climate change could themselves be drivers of sustainable economic and social development. Achieving this requires concerted global action across diverse sectors to set limits on carbon dioxide emissions while promoting technological innovation, renewable energy and resource efficiency. Launched days ahead of the UN Secretary General’s Climate Summit, the report offers practical recommendations and global focus for advancing climate change action and ambitions,” added Achim Steiner, UN Under-Secretary-General and UNEP Executive Director.
The research has been carried out by a partnership of leading global economic and policy institutes, including the World Resources Institute (Managing Partner), the Climate Policy Initiative, Ethiopian Development Research Institute, Global Green Growth Institute, Indian Council for Research on International Economic Relations, LSE Cities at the London School of Economics and Political Science, the Stockholm Environment Institute, and Tsinghua University. Leading international organizations such as the International Energy Agency, International Monetary Fund, OECD and World Bank have contributed to its work.
Check the following link to read/download the Full Report:
http://newclimateeconomy.report/
Source: Global Commission on the Economy and Climate.
