Nicholas Stern, formerly of the British Treasury, said over the weekend that the risks of inaction over climate change far outweigh the turmoil of the global financial crisis.
The risk consequences of ignoring climate change will be very much bigger than the consequences of ignoring risks in the financial system… That’s a very important lesson, tackle risk early.”
Suggestion noted. And just as people were sounding the alarm about the unsustainability of the housing market and the risks in the subprime lending market, so too have people been sounding the alarm about climate change. We can still tackle the risk early or we can face the consequences.
Stern also warned not to use the current financial problems as a reason to not tackle climate change now. Investments in efficiency will put people to work immediately and start bringing down electric bills for consumers. Investing in solar and wind will put people to work in manufacturing, constructing, and installing these new forms of low carbon energy.
We have the technology, we can do it. We can choose a new energy future and receive the economic benefits of investing in it, or we can face the consequences of inaction, which we are already seeing today.
Now all we need is a catchy slogan, easily shouted at campaign rallies. Weatherstrip, baby, weatherstrip?
