Reports on Climate change

Since the last report of former World Bank´s and now Britain´s chief economist Nicholas Stern, it seemed that ecologism would find its renaissance among the economists now. The Stern review (from October 30) described the fatal consequences of uncontrolled growth for the planet: environmental and economic catastrophes will shape the young century.

This is not very new. In 1972 for example, Dennis L. Meadows gave the first report to the Club of Rome, called The Limits to Growth. It took a lot of time, until the economists realized also the economic implications. Now Stern has calculated that the costs of consequences created by the climate change will make up at least 5 % of global GDP, if not 20 %! - an economic catastrophe comparable with the world wars and the great depression. While the costs of serious investing in new technologies and climate protection will make up only 1 % and will lead to future profits. We can choose now!

Not only Tony Blair regardes this report as "the most important paper" during the time of his premiership. Even in the USA now voices call for climate protection, be it Al Gore or Arnie Terminator Schwarzenegger who find their green souls.

Climate change will at first affect the poor countries and will lead to more violence, to wars for natural resources. It is time for the industrial countries to act and to be aware of their responsibility.
UN General Secretary Kofi Annan said on the climate conference in Nairobi (November 15):

A few diehard sceptics continue to deny “global warming” is taking place and try to sow doubt. They should be seen for what they are: out of step, out of arguments and out of time. In fact, the scientific consensus is becoming not only more complete, but also more alarming. Many scientists long known for their caution are now saying that global warming trends are perilously close to a point of no return.
A similar shift may also be taking place among economists. Earlier this month, a study by the former chief economist of the World Bank, Sir Nicholas Stern of the United Kingdom, called climate change “the greatest and widest-ranging market failure ever seen”. He warned that climate change could shrink the global economy by 20 per cent, and cause economic and social disruption on a par with the two World Wars and the Great Depression.

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But the primary responsibility for action rests with individual States -- and for now, that means those that have been largely responsible for the accumulation of carbon dioxide in the atmosphere. They must do much more to bring their emissions down. While the Kyoto Protocol is a crucial step forward, that step is far too small. And as we consider how to go further still, there remains a frightening lack of leadership.
In developing countries, meanwhile, emissions cannot continue to grow uncontrolled. Many of them have taken impressive action on climate change. Rapidly growing economies, like China, have been increasingly successful in decoupling economic growth from energy use, thereby reducing the emission intensities of their economies. But more needs to be done.

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The question is not whether climate change is happening or not, but whether, in the face of this emergency, we ourselves can change fast enough.