Seizing the global opportunity - The 2015 New Climate Economy Report
Sustained growth and climate action can and must be achieved together. The goals to end extreme poverty and secure a safe climate are within reach provided the right measures are done. This is the main message in the new report from the Global Commission on the Economy and Climate.
This is the second report by the commission, the first being last years “Better growth, Better Climate”. This year’s report is named Seizing the Global Opportunity, Partnerships for Better Growth and a Better Climate.
“Momentum is building for a low-carbon economy. Global economic growth and CO2 emissions are beginning to be decoupled. But the pace of change needs to be accelerated further and carbon pricing is imperative to stimulate a low carbon business friendly economic development”, says Christian Rynning-Tønnesen, CEO of Statkraft, commenting on the report.
The report identifies 10 key areas of opportunity for stronger climate action which will also bring significant economic benefits. Together, these could achieve at least 59% and potentially as much as 96% of the emissions reductions needed by 2030 to keep global warming below 2°C.
The Global Commission on the Economy and Climate, and its flagship project The New Climate Economy, were set up to help governments, businesses and society make better-informed decisions on how to achieve economic prosperity and development while also addressing climate change. The Commission is headed by former president of Mexico Felipe Calderón and Christian Rynning-Tønnesen serves on the board together with people such as Chad Holliday, Chairman of Royal Dutch Shell, Paul Polman, Chief Executive Officer, of Unilever and Kristin Skogen Lund, Director-General, Confederation of Norwegian Enterprise (NHO).
The report identifies 10 key actions that can drive economic growth and development and achieve as much as 96% of the greenhouse gas emissions reductions needed by 2030 to keep global warming under 2°C.
The costs of continuing the current fossil fuel-dominated economic model are becoming ever clearer. Last year, the global economy grew at 3%, but global CO2 emissions did not rise. However, action is not yet occurring at the scale and speed necessary for structural transformation toward a new climate economy.
Several countries are taking action to reduce emissions and stimulate low carbon growth. So far 40 countries have adopted or are planning carbon pricing, and 28 countries are undertaking energy subsidy reforms.
An increasing number of businesses and investors are committed to low carbon growth. Over 1,000 major companies and investors have signalled their support for carbon pricing.