Commission to find pathways to prosperity and safe climate

Date: 
September 25, 2013
South Korea and Indonesia has joined forces with five other countries to launch an USD8.9 million analysis into the economic impacts of climate change.

The project aims to contribute to the global debate about economic policy, and to inform government, business and investment decisions. It will be published next September just before a high-level UN summit on climate change chaired by Ban Ki Moon opens in New York.

The project will be co-ordinated by the Global Commission on the Economy and Climate (GCEC), a body created by the two Asian nations together Colombia, Ethiopia, Norway, Sweden and the United Kingdom. A partnership of research institutes from five continents will carry out the analysis.

"Climate impacts are rising and the evidence of warming is increasingly clear, but most economic analysis still does not properly factor in the increasing risks of climate change or the potential benefits of acting on it," said Commission chair and former President of Mexico Felipe Calderón.

"We need urgently to identify how we can achieve economic growth and job creation while also reducing emissions and tackling climate change."

The research institutes in the partnership are: the Climate Policy Initiative, Ethiopian Development Research Institute, Global Green Growth Institute, Indian Council for Research on International Economic Relations, Stockholm Environment Institute, Tsinghua University, and World Resources Institute.

"At a time when governments throughout the world are struggling to boost growth, increase access to energy, and improve food security, it is essential that the full costs and benefits of climate policies are more clearly understood," said Lord Nicholas Stern, Vice-Chair of the Commission and author of the 2006 Stern Review. "It cannot be a case of either achieving growth or tackling global warming. It must be both."