Action on Planet and People Depends on Growth by Michael Spence, Anu Madgavkar, Sven Smi published by Project Syndicate (9/2023).
“Mobilizing the investment needed to complete the net-zero transition will require broad public backing and participation. Given that people living in poverty are less likely to support climate action, simultaneous efforts to improve living standards are essential.
With the 78th session of the United Nations General Assembly and Climate Week NYC about to begin, and the next UN Climate Change Conference (COP28) approaching fast, it is imperative that the world clarify the relationship between economic growth and environmental sustainability. Far from being mutually exclusive, the former is a prerequisite for the latter: economic dynamism and improvements in living standards are vital both to finance climate action and to ensure adequate public support for it. Fortunately, this is now widely understood. In June, leaders of some of the world’s largest economies – including Brazil, the European Union, the United States, Japan, and South Africa – issued a joint statement describing poverty reduction and protection of the planet as “converging” objectives. Similarly, the declaration released after the just-concluded G20 summit in New Delhi affirmed that “no country should have to choose between fighting poverty and fighting for our planet.””
