Climate and Economy

A report from the Global Commission on the Economy and Climate called The New Climate Economy concludes that preventing a 2 degree Celsius rise in global mean temperature can be accomplished with about $4 trillion or about 4.5 percent more than projected energy spending.

Update (September 19):  Paul Krugman criticizes both those on the right who only seem to be defending fossil fuel interests, and those on the left who say the end of growth is the only effective climate action.

Climate despair is all wrong. The idea that economic growth and climate action are incompatible may sound hardheaded and realistic, but it’s actually a fuzzy-minded misconception. If we ever get past the special interests and ideology that have blocked action to save the planet, we’ll find that it’s cheaper and easier than almost anyone imagines.

But just because the economics are favorable, doesn't mean the political will is there.  Inequality comes into it simply due to the imbalance of political influence.  A net cost might be near zero, but leaving fossil fuels in the ground is going to a huge loss for someone.

Update (September 20):  Rebecca Solnit says that "only collective action can save us now".

Update (September 21):  About 300,000 in New York City at the People's Climate March with as many as a couple thousand other events in 166 countries.

Update (October 13):  A study from World Resources Institute also points to many economic benefits from combating climate change.