Long abstract

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Climate change is confronting us with the fierce urgency of “now”.  It concerns the environment as well as the global economy.  Global temperatures will continue to rise unless greenhouse gas emissions are reduced significantly. Impacts will include more intense heat waves, droughts, storms and floods, which in turn will cause damage to key infrastructure and crops, and increase risks to human health and life. Action is urgent and imperative. As our recently launched OECD Environmental Outlook to 2030 illustrates, the policies needed to address climate change are available and achievable and, when compared to the cost of inaction, and taking into account expected global economic growth, they are affordable. A key challenge beyond the “what” and the “how” will be the distribution of costs.
With over 20 years experience analysing climate change from an economic perspective, the OECD is uniquely placed to help countries define strategies to produce results at lowest cost. The OECD can facilitate discussions and build a common understanding on issues such as cost sharing, carbon leakage, financial management of catastrophic risk and the potential impacts of climate policies on sectoral competitiveness. We can help countries design and implement national policies to stimulate innovation and diffusion of clean technologies. Finally, we can help mobilise support for developing country responses.  These issues were discussed at recent OECD Ministerial Council Meeting and OECD Forum, as well as at OECD meeting of environment ministers in April 2008, and at the high-meeting of the OECD Development Assistance Committee in May 2008.