COOL POLICY: CLIMATE CHANGE MITIGATION SUPPORTING GROWTH

摘要

1. Climate change must be tackled decisively to avoid future costs, especially to reduce the likelihood of catastrophic changes. Stabilising greenhouse gas concentrations will eventually require a zero net carbon emission economy. 2. Markets are beginning to incorporate a number of risks related to climate change. The global public good nature of the climate and the potential consequences of tail risks, nevertheless, call for strong public action to underpin these developments. 3. The kind of action that is needed is well-known. Most OECD countries and a growing number of emerging market economies have already taken some action. This has helped to decouple emissions from GDP growth in many countries and led to growing investment in low-carbon technologies. A strong response with decisive and coordinated policies could strengthen the recovery, with a more predictable policy environment boosting investment and research. Both will be needed to meet the challenge of climate change.