Investment in climate action is the economic growth story of today and the future, while growth fuelled by fossil fuels is futile because the damage it causes ends in self-destruction, the economist Nicholas Stern has said.
The plummeting costs of clean technologies, plus the healthier and more productive societies they enable, mean investments in cleantech simultaneously tackle the climate crisis and faltering economic growth, he said. Stern is well-known globally but perhaps best known in the UK In 2006 he led a landmark review for the UK government that concluded climate action would cost less than the damage caused by inaction.
He has new book due to come out on 5 November, The Growth Story of the 21st Century: The Economics and Opportunity of Climate Action.
His conclusions from 2006 remain valid today but have intensified, he said.
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