Bob Ward and the Grantham Institute are jumping up and down this morning about a new paper the Institute has published. It's fair to say the conclusions of author Fergus Green, as reported in the Grantham Institute press release are striking:
Countries will benefit economically from almost all of the actions needed to limit global warming to no more than 2°C above pre-industrial levels, according to a paper published today (PDF) (13 July 2015) by the Grantham Research Institute on Climate Change and the Environment and ESRC Centre for Climate Change Economics and Policy at London School of Economics and Political Science.
The paper suggests that individual countries have large incentives to make ambitious reductions in greenhouse gas emissions and to agree to strong collective action at the United Nations climate change conference in Paris in December.
Remarkable stuff, I'm sure you will agree, overturning much of what we thought we knew about the economics of global warming mitigation. It's even more surprising when you learn that Mr Green is not an economist at all, but a post-graduate student who was until recently a lawyer at a firm in Australia.
Click to read more ...