Major new report says world can tackle climate change without harming economic growth
Tue 16 September 2014
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A major new report released by the Global Commission on the Economy and Climate today finds that governments and businesses can improve economic growth and reduce their carbon emissions at the same time. The report - conducted by a global partnership of leading research institutes and advised by a panel of world-leading economists - was presented to World leaders at the UN's HQ in New York ahead of the UN Climate Summit. The GCEC report echoes the findings of several other reports recently published in the UK.
‘Better Growth, Better Climate’, finds that over the next 15 years, about US $90 trillion will be invested in infrastructure in the world’s cities, agriculture and energy systems. The world has an unprecedented opportunity to drive investment in low carbon growth, bringing multiple benefits including jobs, health, business productivity and quality of life. Continuing down the high carbon route will bring severe risks to long-term prosperity, the report warns.
Responding to the report for the UK Government, Edward Davey, Secretary of State for Energy and Climate Change, said, “The New Climate Economy Report... shows that across key sectors of the world economy there is opportunity for low-carbon growth to drive investment, providing jobs as well as better health, business productivity and quality of life”.
Mr Davey's comments followed shortly after the UK announced its vision for a global climate deal, which sets out what the Government says are 'ambitious and fair' commitments from all countries that will hopefully reduce emissions and spur new investment in innovation.
The Global Commission report echoes the findings of reports issued in the last month by ippr/University College and Cambridge Econometrics. It is also consistent with the findings of LowCVP's sectoral report - 'Investing in the Low Carbon Journey' - which was launched at the Partnership's Annual Conference in July. The LowCVP report found that UK's automotive sector has been revitalised by consistently applied policy centred on cutting carbon.
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