New reports conclude that actions to tackle climate change are 'in national interest'

Tue 14 July 2015 View all news

A major new report from the Global Commission on the Economy and Climate (GCEC) has found that actions to tackle climate change would deliver multiple economic benefits, particularly when co-operative, multi-stakeholder partnerships are involved - not just between governments but among businesses, investors, states and regions, cities and communities. These findings are echoed by other recently published reports from the Grantham Institute and the Aldersgate Group.

The New Climate Economy report from the GCEC involving 28 chief executives, economists and political figures shows that halting climate change without denting economic growth can be done more easily than many companies and governments realise.

Volatile oil prices, rapidly falling renewable energy costs and other global trends have set the stage for economies to cut greenhouse gas emissions and keep growing, the study says.

Up to 96 per cent of the emissions cuts needed to prevent dangerous climate change could be achieved by 2030 if the report’s recommendations for governments to collaborate more and build on these trends are implemented, the authors say (reported by the Financial Times).

The report argues that recent developments  — particularly the dramatic falls in the cost of renewable energy - show that the conventional view that it is too expensive to tackle climate change, for many developed countries — let alone developing nations — is wrong.

For example, the report says that the cost of solar power systems has fallen by 75 per cent since 2000, while energy storage costs have dropped by 60 per cent in the past decade.

Commenting on the report for the GCEC, Lord Nicholas Stern said: “Strong economic growth that is also low-carbon is going to become the new normal.”

Meanwhile, a separate report by the Grantham Research Institute says that almost all actions needed to limit global warming to two degrees will provide domestic economic benefits.

The paper, entitled "Nationally self-interested climate change mitigation", suggests that almost all measures required to limit climate change provide economic benefits including reducing air pollution, improving public health, improving land use and ensuring energy security.

The research argues against suggestions cutting carbon emissions will ultimately prove to be a net-cost to countries, arguing new findings and developing technologies make the case for the economic benefits of tackling climate change.

The research contradicts the notion that nations can ‘free-ride’ on the efforts of larger nations by minimising their own action on climate change.

In another new report from the Aldersgate Group, leaders from multiple sectors of the economy, academia and civil society set out the key near term policy priorities that will allow the UK to meet its carbon targets on time, on budget and in way that will be beneficial to the UK economy. 

The report, "A Brighter, More Secure Future: Low carbon priorities for the new government" gathers contributions from leaders drawn from sectors as varied as the telecoms, manufacturing, finance, retail, construction, cement, energy and engineering consultancy industries as well as prominent academics, consumer groups and NGOs.

In it, the Aldersgate Group urges policy makers to provide clarity as soon as possible on the funding and level of ambition for low carbon technologies beyond 2020.

The report argues that the environmental and low carbon goods sector is already playing a key role in the UK’s continued economic recovery, with an annual turnover in excess of £122bn in 2013. But the sector is now at a crossroads and needs clear policies for the decade ahead to ensure its continued growth.

The conclusions of these reports echo many of the findings of the LowCVP's report - "Investing in the Low Carbon Journey" - published last year, which showed that the UK automotive industry's renaissance has been at least partly the result of a continued and consistent focus on cutting carbon emissions in UK road transport policy. 


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