The Global Climate Action Summit on September 12 -14. 2018 highlighted both progress as well as ambitious goals. This conference
showed that climate change is not so much of a technical problem, nor is it a financial problem it is primarily problem of political will. Overcoming
special interests that seek to block the evolution of our economic and social system from a
more restorative inclusive economy seems to be one of our greatest challenges. When I say inclusive it means including all species of
plants and animals. This conference in conjunction with the nobel peace laureate of economics shows that
addressing our emissions will also protect our economy, our health and our atmosphere.
The Global Climate Action Summit mission was to "challenging people, communities, societies and economies around the world to ‘step up’ and take ambition to the next level across five key issue areas: Healthy Energy Systems, Inclusive Economic Growth, Sustainable Communities, Land and Ocean Stewardship and Transformative Climate Investments. The Healthy Energy Systems challenge focuses on the global clean energy revolution that is decarbonizing energy and transport systems and enabling healthy people and places." This engaging meeting had many affiliate events all of which showed a real maturity in the clean energy economy. Seeing the progress of energy initiatives, Biomimicry designs, land and ocean stewardship projects all showed that there is a real momentum that will lead to a robust restorative economy that could be truly inclusive. This may be further cemented by the work of US economists William Nordhaus and Paul Romer who have jointly won this year’s Nobel Prize in Economic Sciences for their work on climate change and innovation.
Although they are not the first to concern themselves with the economic risks of climate change their data modeling methodology is a crucial land mark that shows the macroeconomic analysis of the effects of climate change. This analysis will engage more stakeholders across party lines. It is not just a matter of science it is a matter of economic stability and health and this speaks to the broadest audience.
Mr Nordhaus, is a professor at Yale, winning the Nobel Prize in "recognition for his pioneering work integrating climate change into long-run macroeconomic analysis this year after being involved with the concept of “green accounting” since 1970. He is the first to create a quantitative model describing the global interplay between the economy and climate." Models like these will help us address the financial risks of climate change that will reach into every sector of the economy. We will see changes in costs, and risks to health care, all types of inurance, roadways, to waterways, manufacturing and transportation. We will be evovleing rapidly to integrate the value of the natural world into our cost analysis. In 2015 a book I have enjoyed came out - Economic Risks of Climate Change by Trevor Houser, Solomon Hsiang, Robert Kopp and Kate Larsen Michael Bloombergs forward harkens to many of the issues he touched on at this months climate conference in San Francisco.
who has also been thoughtful in regards to the economic risks of climate change realeased a book