Stern urges switch to low carbon economy during downturn

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The author of the Government’s 2006 report on climate change said that while demand is low, it is a good time to switch to “a more sustainable pattern of growth” by replacing fossil fuels with more renewables and clean energy, designing new technologies and improving energy efficiency.

The former economist at the Treasury warned that previous growth on the back of the housing market boom or dot.com bubble have been unsustainable.

However investment in renewables and low carbon energy could improve the economy in the long term.

“I would hope that we will see a bringing forward of public transport investment, collaborations with the car industry to develop rapidly low carbon cars and a lot of investment in power stations in the next 10 to 15 years to make them a lot greener,” he said.

“There is a great deal we can do now during a period when demand is low to give ourselves a chance to get into a much more solid, sustainable pattern of growth in the future.”

Lord Stern, who now travels the globe warning of the consequences of global warming, called for the developed world to slash emissions by 80 per cent by 2050 and the developing world by at least half in the up-and-coming international negotiations on climate change.

By Louise Gray