A front page New York Times article this week describes how industry is waking up to the economic impacts to climate change. This could be relatively good news for the rest of the world who have been suffering the social and environmental costs of climate change and fossil fuel use without the reaping the enormous economic benefits and disproportional profits of its extraction, transportation and commercialization.
The full article can be read by clicking on this link to the story Industry Awakens to Threat of Climate Change which was written By Coral Davenport and ran on JAN. 23, 2014 in the NY Times, page 1. Here is a brief excerpt:
…At the Swiss resort of Davos, corporate leaders and politicians gathered for the annual four-day World Economic Forum will devote all of Friday to panels and talks on the threat of climate change. The emphasis will be less about saving polar bears and more about promoting economic self-interest.
In Philadelphia this month, the American Economic Association inaugurated its new president, William D. Nordhaus, a Yale economist and one of the world’s foremost experts on the economics of climate change.
“There is clearly a growing recognition of this in the broader academic economic community,” said Mr. Nordhaus, who has spent decades researching the economic impacts of both climate change and of policies intended to mitigate climate change.
In Washington, the World Bank president, Jim Yong Kim, has put climate change at the center of the bank’s mission, citing global warming as the chief contributor to rising global poverty rates and falling G.D.P.’s in developing nations. In Europe, the Organization for Economic Cooperation and Development, the Paris-based club of 34 industrialized nations, has begun to warn of the steep costs of increased carbon pollution.