Less Carbon Can Mean More Growth

Although the global recession is serious and its duration uncertain, the world must nevertheless continue to focus on the far-reaching threat of climate change. Indeed, if we are smart, public policy can serve the twin goals of stimulating growth and fighting global warming.

THE HAGUE – Although the global recession is serious and its duration uncertain, the world must nevertheless continue to focus on the far-reaching threat of climate change. Indeed, if we are smart, public policy can serve the twin goals of stimulating growth and fighting global warming.

Governments hammering out a successor agreement to the Kyoto Protocol at the United Nations climate conference in Copenhagen later this year should adopt strong incentives to cut greenhouse-gas emissions. Doing so could kick-start private investment and help to fuel economic recovery.

The broad outlines of an effective and efficient response to global warming have been clear for years. A system to cap CO2 emissions and trade emission allowances would channel resources toward the most cost-effective reduction measures. And widespread adoption of efficiency standards for appliances, vehicles, and buildings would help companies and individuals use less energy.

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

or

Register for FREE to access two premium articles per month.

Register

https://prosyn.org/2EVLJeU