Path Dependence, Innovation and the Economics of Climate Change

Future-smart investments are those that are sustainable, writes Ngozi Okonjo-Iweala.

The climate story is, at its heart, a complex problem of better risk management over long-timeframes, with potentially catastrophic economic consequences from inaction, writes Caio Koch-Weser.

By Sharan Burrow

The New Climate Economy's mid-April update on its appearances in the media.

China can achieve economic development, energy security and reduce pollution at the same time, according to a major study conducted by Tsinghua University in collaboration with the Global Commission. The report explains how China can face its development and climate challenges while maintaining growth of up to 7-8% in the near-term and 5% by 2030.

The New Climate Economy (NCE) is very pleased to announce the addition of three new distinguished commissioners to the Global Commission on the Economy and Climate: Suma Chakrabarti, Naina Lal Kidwai and Kristin Skogen Lund. They bring a wealth of private and public experience and expertise to the Commission.

New research from the New Climate Economy shows that raising energy efficiency standards in the G20 and around the world could reduce greenhouse gas emissions by up to 6.9 Gt CO2e per year by 2030, more than the current annual emissions of the United States. These emissions reductions would be accompanied by economic savings in appliances, buildings, industry, and transport.

The New Climate Economy has three open positions throughout its research partnership. For the full job adverts and how to apply, please see our partner links.

It's clear that climate fatalists are wrong to suggest that we cannot afford to act. The reality is we cannot afford not to. In addition, there are growing examples that show why climate action is in the United States' economic interest, write David Vogel and Helen Mountford.

At Abu Dhabi Ascent, a high-level meeting hosted by the United Arab Emirates to generate momentum for the Climate Summit at the UN, Felipe Calderon urged participants to pursue economic action on climate change.

Five new studies provide real-world examples of how to achieve better patterns of urbanisation and highlight how cities can grow their economies while reducing greenhouse gas emissions. According to Graham Floater, director of cities research for the Global Commission, "a new breed of cities is emerging with compact, connected development – innovative cities that are more productive, attractive and low carbon."

London/Washington, DC, May 8, 2015: Historically unpredictable and changing oil prices are hurting the economy, but today’s cheap oil offers a unique opportunity to reduce our fossil fuel addiction and invest in more sustainable and predictable renewable energy sources – says a new report by Lord Nicholas Stern and colleagues in the New Climate Economy project.

A new paper by the New Climate Economy identifies the lessons learned from past attempts to reform fossil fuel subsidies, explores why progress has been slow, and outlines the principles for successful reform.

On October 6, 2016, the Global Commission on the Economy and Climate will launch it's third major report, The Sustainable Infrastructure Imperative: Financing for Better Growth and Develop