UK seeks low-carbon future and resilient economy

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AS we fight the global financial crisis, both the UK and China will be looking to build resilient economies, insulated from shocks.

This does not mean, however, that there will be a temptation to rowback from climate change commitments.

Neither country can afford to turn to a high-carbon growth path.

All the scientific and economic evidence tells us that unmitigated climate change will generate ever more frequent shocks to the global economy, which will impact more severely and for much longer than the sub-prime crisis.

The high food and commodity prices that have exacerbated strains internationally will become more common due to supply-shocks to the agricultural and extractive sectors.

Put simply, the cost to the global economy of not acting on climate change are far greater than the costs of acting.

The UK recognizes the leading role we must play if a global deal to cut carbon emissions is to be realized and securing a global deal on carbon by the end of 2012 is one of the UK’s most important international goals.

On October 19 this year, Britain committed itself to a low-carbon future. A Climate Change Act, the first of its kind in the world, means that UK greenhouse gas emissions must legally be cut by 80 per cent by the middle of the century.

The shift to a low-carbon economy requires immediate action and the UK commitment sets out a framework for adapting to this changed world.

But while we know that determination to change must start at home, it cannot end there: We need a global deal.

The UK has now clearly set out what we will do, and we hope this will inspire other countries to take action, too.

By Katherine Dixon