Industrialists, environmentalists and unions today welcomed Sir Nicholas Stern's comprehensive review of the economic impact of climate change.
Richard Lambert, the director-general of the Confederation of British Industry, said the review was a powerful argument for collective action.
"Provided we act with sufficient speed, we will not have to make a choice between averting climate change and promoting growth and investment," Mr Lambert said.
Reflecting its preference for market-based solutions, the CBI said the world urgently needed a global system of carbon trading as the nucleus around which action could be built.
In carbon trading, governments issue permits to companies allowing them to emit a certain level of carbon dioxide (CO2). If companies emit CO2 levels above their allowances, they have to buy permits from those emitting below their allowable levels.
As part of the system, the cap for emissions is gradually lowered, increasing the financial burden for the heavier polluters and theoretically forcing them to become more energy-efficient. The EU already has such a scheme in place, the emissions trading system, but it has been of limited success because governments initially set over-generous emission levels.
The UK Business Council for Sustainable Energy and sister organisations in Australia, Europe and the US echoed the CBI on the importance of carbon trading.
"We strongly endorse the need for effective carbon markets and for these to be integrated into underlying energy policy for secure efficient supply," the council's chief executive, David Green, said.
The Trades Union Congress urged the government to develop a green manufacturing strategy and plan to improve energy efficiency in the workplace.
The TUC general secretary, Brendan Barber, said: "Tackling climate change by supporting the growth of low carbon and carbon free technologies - from renewable energy to low-carbon vehicles - could also benefit British business and create jobs."
More broadly, the London-based foreign affairs thinktank Chatham House said Sir Nicholas had provided a compelling economic rationale for action.
"Sir Nick Stern argues persuasively that tackling climate change is a 'pro-growth' strategy, which he backs up with rigorous economic analysis," said Beverley Darkin, an energy expert at Chatham House. "This destroys the arguments made by those who oppose measures to tackle climate change on the grounds that policies are harmful to national economies."
The left-leaning Institute for Public Policy Research thinktank also praised the review for making the economic argument for tackling climate change.
"Those who deny climate change have already been smoked out on the science; this report smokes them out on the economics. Now they have nowhere left to hide," said Simon Retallack, head of IPPR's climate change centre.
Robert Solow, a Nobel prize-winning economist, praised the practical nature of the report.
"What is particularly striking is the identification of ways and means of sharply minimising these penalties through acting right now, rather than waiting for our lives to be overrun by rapidly advancing adversities. The world would be foolish to neglect this strong but strictly time-bound practical message."
WWF, the environmental group, called on the government to act urgently to reduce the UK's own emissions.
"Green taxes are part of the solution and if implemented properly they won't hit the poorest people but the most polluting," Keith Allott, head of climate change at WWF, said.
"The UK can truly lead the world by showing that we can reduce emissions without damaging our quality of life. A climate bill would be a good start but must commit to year on year reductions in emissions."
Source: The Guardian
Richard Lambert, the director-general of the Confederation of British Industry, said the review was a powerful argument for collective action.
"Provided we act with sufficient speed, we will not have to make a choice between averting climate change and promoting growth and investment," Mr Lambert said.
Reflecting its preference for market-based solutions, the CBI said the world urgently needed a global system of carbon trading as the nucleus around which action could be built.
In carbon trading, governments issue permits to companies allowing them to emit a certain level of carbon dioxide (CO2). If companies emit CO2 levels above their allowances, they have to buy permits from those emitting below their allowable levels.
As part of the system, the cap for emissions is gradually lowered, increasing the financial burden for the heavier polluters and theoretically forcing them to become more energy-efficient. The EU already has such a scheme in place, the emissions trading system, but it has been of limited success because governments initially set over-generous emission levels.
The UK Business Council for Sustainable Energy and sister organisations in Australia, Europe and the US echoed the CBI on the importance of carbon trading.
"We strongly endorse the need for effective carbon markets and for these to be integrated into underlying energy policy for secure efficient supply," the council's chief executive, David Green, said.
The Trades Union Congress urged the government to develop a green manufacturing strategy and plan to improve energy efficiency in the workplace.
The TUC general secretary, Brendan Barber, said: "Tackling climate change by supporting the growth of low carbon and carbon free technologies - from renewable energy to low-carbon vehicles - could also benefit British business and create jobs."
More broadly, the London-based foreign affairs thinktank Chatham House said Sir Nicholas had provided a compelling economic rationale for action.
"Sir Nick Stern argues persuasively that tackling climate change is a 'pro-growth' strategy, which he backs up with rigorous economic analysis," said Beverley Darkin, an energy expert at Chatham House. "This destroys the arguments made by those who oppose measures to tackle climate change on the grounds that policies are harmful to national economies."
The left-leaning Institute for Public Policy Research thinktank also praised the review for making the economic argument for tackling climate change.
"Those who deny climate change have already been smoked out on the science; this report smokes them out on the economics. Now they have nowhere left to hide," said Simon Retallack, head of IPPR's climate change centre.
Robert Solow, a Nobel prize-winning economist, praised the practical nature of the report.
"What is particularly striking is the identification of ways and means of sharply minimising these penalties through acting right now, rather than waiting for our lives to be overrun by rapidly advancing adversities. The world would be foolish to neglect this strong but strictly time-bound practical message."
WWF, the environmental group, called on the government to act urgently to reduce the UK's own emissions.
"Green taxes are part of the solution and if implemented properly they won't hit the poorest people but the most polluting," Keith Allott, head of climate change at WWF, said.
"The UK can truly lead the world by showing that we can reduce emissions without damaging our quality of life. A climate bill would be a good start but must commit to year on year reductions in emissions."
Source: The Guardian
No comments:
Post a Comment