Wednesday, November 12, 2008

Climate change measures could ‘stimulate economies’

Brussels - November 12 2008 - Lord Nicholas Stern, the British economist who helped galvanise views on climate change, has derided as “muddled thinking” claims that the financial crisis would make it too costly for Europe to adopt ambitious plans to fight global warming.

Investments in clean energy technologies could help to better position European companies for the future while providing a much-needed stimulus to help revitalise slowing economies, he said.

“These two crises coming together give a fundamental opportunity, and it is only confused and muddled thinking that sets one against the other,” he said at a conference in Brussels.

His comments chime with Joaquín Almunia, the European Union’s monetary affairs commissioner, who Tuesday said Europe should try to limit the damage inflicted by the global financial crisis on its economy by accelerating structural reforms and the introduction of low-carbon technologies. More >>>