Climate investment is only growth opportunity of 21st century, says leading economist
Distinguished economist Lord Stern claims that climate investment is the sole growth opportunity of the 21st century. He says fossil-fuel-based growth is futile because the damage it does is economic self-destruction.
According to economist Nicholas Stern, climate investment is the key to economic growth in the 21st century. In contrast, growth driven by fossil fuels is ultimately harmful and suicidal.
The decreasing cost of clean technologies like renewable energy and electric cars can help tackle the climate crisis, promote economic growth, and lift millions out of poverty.
Major changes are needed in policy and investment. Stern from the London School of Economics highlighted the tough geopolitical situation but emphasized the need for rational arguments. US President Donald Trump has labeled climate change a “hoax” and promotes fossil fuel companies with a “drill, baby, drill” strategy.
While investing in climate action is important, growth from fossil fuels is ultimately destructive.
He stated that investing in clean technologies like renewable energy and electric vehicles could lower costs, address the climate crisis, boost economic growth, and help millions escape poverty.
Stern, of the London School of Economics, noted that significant changes in policy and investment are needed. He acknowledged the current challenging geopolitical environment but stressed the importance of making a rational argument. US President Donald Trump recently called climate change a “hoax” and supported fossil fuel companies with a “drill, baby, drill” policy.
Economist Nicholas Stern believes that investing in climate action is essential for 21st-century economic growth, as fossil fuel-driven growth is ultimately harmful.
Investing in clean technologies, like renewables and electric cars, will lower costs, improve society, address the climate crisis, and boost economic growth, ultimately lifting millions out of poverty.
Stern, of the London School of Economics, notes that significant policy and investment changes are needed. He acknowledges the current challenging geopolitical climate but stresses the importance of making a rational argument. US President Donald Trump recently called climate change a “hoax” and urged fossil fuel companies to “drill, baby, drill.”
Stern advises Trump to think about the scientific implications and risks to his children and grandchildren, using the California wildfires as an example. His Florida property would be highly vulnerable to powerful hurricanes, rising sea levels, and storm surges. The people and places he loves are at serious risk.
“The science that shows that greenhouse gases are warming the atmosphere is clear; calling it a ‘hoax’ is wrong,” he said. I would explain to Trump that solar power is a superior alternative to fossil fuels for global and U.S. power generation. The good people of Texas will invest in solar and wind power because it is cheaper than the alternatives. It is much better to invest in 21st-century technology than 19th and 20th century technology.”
Economist Nicholas Stern believes that investing in climate action is essential for 21st-century economic growth, as fossil fuel-based growth is ultimately harmful.
Investing in clean technologies like renewable energy and electric vehicles will lower costs, benefit society, address climate issues, and enhance economic growth, helping millions escape poverty.
Stern, of the London School of Economics, noted that significant policy and investment changes are needed. He acknowledged the current challenging geopolitical climate but stressed the importance of making a rational argument. US President Donald Trump recently called climate change a “hoax” and urged fossil fuel companies to “drill, baby, drill.”
Stern advised Trump to think about the scientific implications and risks to his children and grandchildren, using the California wildfires as an example. His Florida property would be highly vulnerable to powerful hurricanes, rising sea levels, and storm surges. The people and places he love are at grave risk.
“The science is clear that greenhouse gases are warming the atmosphere; calling it a ‘hoax’ is wrong,” he said. I would explain to Trump that solar power is a superior alternative to fossil fuels for global and U.S. power generation. The good people of Texas will invest in solar and wind power because it is cheaper than the alternatives. It is much better to invest in 21st-century technology than 19th- and 20th-century technology.”
The original writer of this Article is Damian Carrington, an an envioroment Article of “The Gurdian.” Modified by Rahman Mahfuz.
Courtesy: “The Gurdian”
