Next week expect to see and hear a number of stories about a new report, commissioned by the United Kingdom, on the economic disaster that awaits the planet if we do not act to address climate change. The widely anticipated report, written by Sir Nicholas Stern, a former chief economist of the World Bank, will warn of the costly and dangerous consequences of not acting to address global warming. The Stern report will also take President Bush's argument against the Kyoto Protocol, claiming it
would harm the US economy, and
flip it on its head.
Sir Nicholas Stern, a former chief economist with the World Bank, will warn
that governments need to tackle the [climate change] problem head-on by cutting emissions or face
economic ruin. The findings, due to be released on Monday, will turn economic
argument about global warming on its head by insisting that fighting global
warming will save industrial nations money. The US refused to join the Kyoto
protocol, the international agreement on greenhouse gas emissions, because
George Bush said it would harm the economy.
Sir David King, the United Kingdom's chief science advisor, who has been briefed on the Stern report, said it
...is going to indicate first of all that if we don't take global action we are
going to see a massive downturn in global economies." He added: "If no action is
taken we will be faced with the kind of downturn that has not been seen since
the great depression and the two world wars."
The UK Foreign Secretary, Margaret Beckett, said
"This is not just an
environmental problem," she said. "It is a defence problem. It is a problem for
those who deal with economics and development, conflict prevention, agriculture,
finance, housing, transport, innovation, trade and health."
As the Financial Times reports , Morgan Stanley and Citigroup understand that action to combat climate change is inevitable. States like California and the northeastern states that are part of the Regional Greenhouse Gas Initiative understand the need to act. They are passing laws that will force reductions in greenhouse gas emissions. Governor Napolitano in Arizona has just signed an executive
order establishing ambitious goals to reduce greenhouse gas emissions in her state.
Unfortunately for the United States and for the rest of the World, President Bush, the "Decider", is having none of it. As one United Nations climate expert recently put it
Talks on extending a U.N.-led fight against global warming beyond 2012 may last
until 2010 to allow a wider U.S. role after President George W. Bush steps down, a U.N. expert said on Wednesday.
That sounds about right to me. Real progress in both the United States and internationally will not occur until President Bush leaves office. He has cost us and the rest of the world 8 years that we will be hardpressed to make up. If the Supreme Court had possessed the smarts to make Al Gore President instead of George Bush we would be in a much better place today in lots of ways but especially on addressing climate change.
Crossposted at
BlueClimate