Some Reason for Optimism on Climate Change

Some Reason for Optimism on Climate Change

Not since the ill-fated UN climate talks in Copenhagen in 2009 has there been as much optimism as there is now about curbing the risks of climate change. Government negotiators converged this week in Lima, Peru, to lay the foundation for a possible global climate agreement next year in Paris. Veteran reporter Andrew Revkin has a typically excellent and thorough post on the state of play at his Dot Earth blog.

In hopes of learning a bit more myself, I went to the Council on Foreign Relations in Washington today to hear Jim Yong Kim, the president of the World Bank, discuss the climate negotiations, in conversation with Mark Tercek, the CEO of The Nature Conservancy.

They, too, sounded hopeful.

“The agreement between the US and China is an extremely important milestone,” Kim said. “We’ve made a lot of progress. I’m much more optimistic than I was a year ago.” The bank’s commitment to driving economic development in poor countries, he argued, can be aligned with the goal of moving the world toward a low-carbon economy.

But how? Kim’s presentation was short on specifics and, to be honest, a bit disappointing. He arrived nearly half an hour late, citing security concerns around a visit to the World Bank by Prince William, of all things, and then read a wonky speech, without showing much passion or even a sense of urgency around the climate threat.

To be sure, Kim said all the right things. He called for the regulation of carbon pollution and the elimination of fossil fuel subsidies. He didn’t put it this way but it’s bonkers to allow people (all of us, not just the fossil fuel industry) to emit carbon pollution into the atmosphere for free, while providing hundreds of billions of dollars in government subsidies that encourage people to burn more oil, coal and natural gas. That’s a recipe for disaster.

“All countries should commit to put a price on carbon,” Kim said. “It’s a necessary if not sufficient step on the road to zero net emissions.” The Canadian province of British Columbia, he noted, enacted a carbon tax that has grown from $10 CN to $30 CN, and “British Columbia’s GDP has outperformed the rest of Canada’s since implementing the tax.”

Meantime, he said, “removing harmful fossil fuel subsidies is long overdue.” This will harm the poor in some countries by raising fuel prices, he acknowledged, so the elimination of subsidies could be accompanied by  “safety nets and cash transfers” to the poor.

Solving the climate problem will take the world economy into uncharted territory, Kim said. No rich country has ever reduced poverty and created prosperity for its citizens without burning cheap fossil fuels.

In that light,  it’s not surprising that some politicians in the developing world–notably Indian Prime Minister Narendra Modi–say they need to focus on development now, and climate at some future date.

(Kim didn’t say so but India can also make the case that it was the US and EU that created the climate problem, and they should clean it up–the issue sometimes described as “climate justice.” See below for a fantastic interactive timeline of climate emissions from major polluting countries from the World Resources Institute.)

“We’re going to do everything we can to help India down a cleaner path,” Kim said, again without saying precisely how. “Four hundred million people living on less than $1 a day. That is also his (Modi’s) responsibility.”

Poor countries like India and Bangladesh, of course, stand to suffer from climate-related storms and drought–a compelling reason for them to act.

As Kim put it: “The science is pretty astounding.” Not to mention frightening.

Here’s the WRI timeline. If you click on “emissions” at the top and then the “loop” button below, you will see how climate emissions provide a window into the rise and fall of the world’s powers in the last 150 years: See here -

This post originally appeared on the Marc Gunther Blog. Distributed with permission of the author.