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Combating Climate Change and Boosting Growth Are Natural Allies:
Survey of Professionals in 115 Countries Buries Myth that Cutting Carbon Will Kill Economies, but Price of Carbon Must Rise
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The survey additionally asked hands-on decisions makers to rate 17 specific approaches to addressing climate change. Increasing energy conservation and efficiency (77%) rates as having the greatest potential impact on GHG emissions in the short term (rated “major” by 77 percent). Ranked second is the removal of subsidies for carbon-intensive activities (76%) a clear signal to policy makers needing to free up budgets to fund fiscal stimulus measures.
When asked to evaluate the potential of different technologies to lower atmospheric carbon concentrations in the longer term (25 years), efficiency and conservation (88%) remain the most attractive among decision makers, well above nuclear energy (only 29% rate current nuclear technology highly), carbon capture and storage (29% on retrofits) and biofuels from food crops (only 12%). Clearly, these decision makers see energy efficiency as the “low-hanging fruit”.
“The development challenge is to accelerate or maintain robust economic growth in poorer countries while also dealing with the impacts of climate change,” says Katherine Sierra, World Bank Vice President for Sustainable Development.
“The new global survey supports the view that developing countries will need support in terms of finance, as well as technology in the fight against climate change,” she said. “The financial situation is no justification for postponing action on climate change. Climate change is not waiting, so we cannot wait either.”
In spite of their strong opinion that economic development and climate action are synergistic, a plurality (44%) expect that the current economic crisis will nonetheless hinder progress toward an effective international climate agreement.
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