Stern on the opportunities in recession

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.

Author: Milan

In the spring of 2005, I graduated from the University of British Columbia with a degree in International Relations and a general focus in the area of environmental politics. In the fall of 2005, I began reading for an M.Phil in IR at Wadham College, Oxford. Outside school, I am very interested in photography, writing, and the outdoors. I am writing this blog to keep in touch with friends and family around the world, provide a more personal view of graduate student life in Oxford, and pass on some lessons I've learned here. View all posts by Milan