Climate change mitigation and development

The warming of the global climate system as a result of increasing greenhouse gas (GHG) concentrations in the atmosphere has become a major concern worldwide. Climate change is manifest in higher average global temperatures, rising global mean sea levels, melting ice caps and an increased intensity and frequency of extreme weather events. Most scientific research suggests that the consequences of unabated climate change could be dramatic. And while doubts remain about some of the concrete impacts, it seems clear that global warming will significantly increase the risk of a severe deterioration of the natural environment, with attendant effects on human wellbeing. It is virtually impossible to reasonably quantify the impact of unabated climate change in economic terms, as this involves a very long time horizon and highly subjective judgments. But because of the large risks and uncertainties, and the potential for severe economic repercussions, strong and early action to mitigate climate change is advocated (Stern, 2006; Weitzman, 2007). Looking at long-term climate change mitigation from this risk-management perspective is not primarily an economic issue but an ethical imperative.

Related Subject(s): International Trade and Finance