Recklessly Slow or a Rapid Transition to a Low-Carbon Economy: Time to Decide

Authors :
Mattia Romani, James Rydge and Nicholas Stern
Organisation:
Global Green Growth Institute (GGGI), Grantham Research Institute on Climate Change and the Environment, London School of Economics and Political Science (LSE)

Intended to inform decision-makers in the public, private and third sectors, this policy paper finds that following a two degrees Celsius path requires radical action in both developed and developing countries and that the overall pace of change is ‘recklessly slow’. According to the authors, the transition to a low carbon and resource-efficient economy should be based on equitable access to sustainable development, as well as recognition that rich countries have a responsibility to support the transition of developing countries. This transition will involve breaking the link between growth and emissions, but not stop growth. The authors emphasise that accelerating the pace of change towards a low carbon, resource-efficient economy is both feasible and crucial, and that rapid transformative change is possible with the right incentives.

The authors criticise the rigidity of the processes under the United Nations Framework Convention on Climate Change (UNFCCC), as well as the behaviour and narrow-mindedness of the participants hindering progress. Additionally, they highlight the power that vested interests continue to have. Conclusions include the following:

  • The world is beginning to move towards feasible and attractive low carbon and resource-efficient paths, but current action is recklessly slow.
  • The politics is not hopeless: a greater pace of action is possible and strong policy will be key to achieving change.
  • Strong leadership will be crucial, particularly in bringing developed and developing countries together.
  • Equitable access to sustainable development is a concept that has great potential to build dynamic partnerships between countries, creating the opportunity and scope to accelerate action.

This summary was prepared by Eldis.