Block’s Indicator of Sustainable Growth

by Ray Block

 Time is running out for the UN Climate Conference in December 2009 to reach  meaningful agreement in the post-2012 carbon constrained brave new world.

In the countdown to the end of the year, there is a lot to do.

Ø      23-24 April: G-8 environment ministers meeting in Syracuse (Italy).

Ø      1-12 June:UN climate negotiations Bonn (Germany).

Ø      18-19 June:EU summit to agree common position, Brussels (Belgium).

Ø      8-10 July:G-8 summit La Maddalena (Italy).

Ø      28 Sept-9 Oct UN climate negotiations Bangkok (Thailand)

Ø      7-18 December Copenhagen climate conference (COP 15).

Ø      End-2012: Deadline for ratification of any new climate deal.

Did the G-20 Leaders at the London Summit (2 April) agree on more than woolly sentiments on climate change, in the face of growing evidence from scientists that global warming is occurring more quickly than previously expected?

The wording of the London statement concentrates on restoring confidence, growth and jobs, repairing the financial system to restore lending, and strengthening financial regulation to restore trust etc. As if in an afterthought, Item 4 tacks onto the bottom of the goals to “build an inclusive, green, and sustainable recovery.”

Item 27: “We agreed to make the best possible use of investment funded by fiscal stimulus programmes towards the goal of building resilient, sustainable, and green recovery. We will make the transition towards clean, innovative, resource efficient, low carbon technologies and infrastructure. We encourage the( multilateral development) banks to contribute fully to the achievement of this objective. We will identify and work together on further measures to build sustainable economies.”

Item 18: “We reaffirm our commitment to address the threat of irreversible climate change, based on the principle of common but differentiated responsibilities, and to reach agreement at the UN Climate Change conference in Copenhagen in December 2009.”

Were the G-20 sentiments less than sincere? Probably not.

If you were trying to juggle so many balls in the air at once- such as getting the world economy back in order, grow jobs, end the world wide recession etc, even the supreme juggler would have difficulties. Give the G-20 leaders their due.

But to achieve all these goals and reduce carbon too is going to take time.