A vast green investment push worth at least $4 trillion a year is needed to put the world on a path of sustainable growth, says one of Britain's leading thinkers on climate change.
Lord Nicholas Stern, who wrote a landmark 2006 report making the economic case for green policies, will re-enter the debate this week with a warning that action must be “swift and strong”.
In three lectures at the London School of Economics, he is expected to call on governments to reject “market fundamentalism” and use its muscle to promote clean technology.
Decisions in the coming years “will dictate whether we lock in high carbon emissions or transition to sustainable, resilient and inclusive development”, he will say.
Countries made a series of pledges to cut carbon emissions at last year's Cop28 talks in the UAE. Climate talks in 2024 are expected to focus on how to finance them.
The world's agreed aim is to limit the global temperature rise to 1.5°C above pre-1900 levels, but without putting the brakes on economic development.
“A big push on investment is central to this transformation, requiring at least $4 trillion a year globally by 2030. A new model of growth and development is in our hands but action must be swift and strong,” Lord Stern is expected to say in London.
“Market fundamentalism has given way to recognising the state's essential role in promoting sustainability and tackling inequality. Government intervention is critical to achieve sustainable growth and development in a world with many key market failures.”
Lord Stern, a former Treasury official and World Bank chief economist, wrote in his 2006 report that the benefits of going green “far outweigh the economic costs of not acting”.
The Stern Review helped shape the thinking of the then-Labour government under Tony Blair and Gordon Brown, which passed the UK's first climate change act in 2008.
However, he has since criticised the UK government's climate policies and will warn of “irreversible climate impacts” unless the world moves to a “strong path of emissions reductions” leading to net zero.
Making it cheaper to remove CO2 from the air will also be necessary, he will say, or else the world might have to turn to radical geoengineering options that come with “significant ethical and environmental risks”.
“The success of this transformation rests also on innovative economic thinking and decisive political leadership. We need an economics that focuses on the dynamics of systemic, structural and technological change,” he is expected to say.
“We have the economic understanding, technologies, and ingenuity to create this new form of sustainable, resilient, and equitable development and to avoid climate catastrophe.
“But do we collectively have the political will, skills, and cohesion to deliver? The challenge is to transform what we 'can do' into what we 'will do'.”
Kat Wightman's tips on how to create zones in large spaces
- Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
- Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
- Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
- Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
- Use a considered collection of prints and artworks that work together to form a cohesive journey.
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Company%20Profile
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Brief scores:
Huesca 0
Real Madrid 1
Bale 8'
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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Coming soon
Torno Subito by Massimo Bottura
When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.
Akira Back Dubai
Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as, “an innovative Japanese cuisine prepared with a Korean accent”.
Dinner by Heston Blumenthal
The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems.
Barbie
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The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
Results
2.30pm: Park Avenue – Conditions (PA) Dh80,000 (Dirt) 2,000m; Winner: Rb Seqondtonone, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)
3.05pm: Al Furjan – Maiden (TB) Dh82,500 (Turf) 1,200m; Winner: Bosphorus, Dane O’Neill, Bhupat Seemar
3.40pm: Mina – Rated Condition (TB) Dh105,000 (D) 1,600m; Winner: Royal Mews, Tadhg O’Shea, Bhupat Seemar
4.15pm: Aliyah – Handicap (TB) Dh87,500 (T) 1,900m; Winner: Ursa Minor, Ray Dawson, Ahmad bin Harmash
4.50pm: Riviera Beach – Rated Conditions (TB) Dh95,000 (D) 2,200m; Winner: Woodditton, Saif Al Balushi, Ahmad bin Harmash
5.25pm: Riviera – Handicap (TB) Dh2,000 (T) 2,000m; Winner: Al Madhar, Antonio Fresu, Musabah Al Muhairi
6pm: Creek Views – Handicap (TB) Dh95,000 (T) 1,400m; Winner: Al Salt, Dane O’Neill, Erwan Charpy
THE DETAILS
Solo: A Star Wars Story
Dir: Ron Howard
Starring: Alden Ehrenreich, Emilia Clarke, Woody Harrelson
3/5
match details
Wales v Hungary
Cardiff City Stadium, kick-off 11.45pm
