"The fact is that warming of the global atmosphere is possibly the biggest and most difficult economic and political issue the world has ever needed to confront. I say this because, firstly, emissions of carbon dioxide are directly linked to economic growth.
Therefore, growth as we know is on the line. We will have to reinvent what we do and how we do it. There will be costs, but as Stern says, the cost will be a fraction of what we will need to spend in the future.
Secondly, the issue is about sharing that growth between nations and between people. The fact is that global economic wealth is highly skewed. Put in climate terms, this means that global emissions are also highly skewed. The question now is whether the
world will share the right to emit (or pollute) or will it freeze inequities. The question is if the rich world, which has accumulated a huge 'natural debt' overdrawing on its share of the global commons, will repay it so that the poorer world can grow, using
the same ecological space?
Thirdly, climate change is about international cooperation. The fact is that climate change teaches us more than anything else that the world is one; if the rich world pumped in excessive quantities of carbon dioxide yesterday, the emerging rich world will
do so today. It also tells us the only way to build controls will be to ensure there is fairness and equity, so that this biggest cooperative enterprise is possible. Think of climate change as the fallout of the feverish embracing of the market.
Ultimately, climate change is the true globaliser. It forces our world to come together not just to make short-term profits for some, but long-term economic and ecological benefits for all. Let us continue to discuss how this can be done."