It was a ‘stellar event’ according to my friend who had a glance at the list of people who filled the audience to the brim. Sir Nicholas talked about
- — the economics of risk
- — the science of probabilities
- — and the collective intellectual capital that we should muster.
The cost of inaction would be > than 5% of GDP while the cost of action would be only 1% of GDP. This is the ‘bottom line’ of his report or in slogan terms: ‘Be Green and Grow!’:
- — economic growth can continue
- — while controlling global warming
- — and providing ‘energy security’.
His recommended actions are:
- 1. attributing a cost to GreenHouse Gases(GHG) – which is taken care of by the EU trading scheme
- 2. doubling public funds – which encouraged me to ask him about it in public
- 3. removing barriers – which means using money as stick or carrot in economic terms.
Maybe he’ll like ‘green credit’ as a ‘green carrot’ then!
Without referring to Contraction & Convergence, he emphasized ‘equity’ as a principle as well as ‘market efficiency’.
Charlie Kronick from Greenpeace pointed out that ludicrous abdication of responsibility of ‘them the institutions’ to ‘us the individuals’. So I pointed out to Sir Nicholas that he and the Chancellor could well more than ‘you and I’ in the audience…
Colin Challen MP asked the first public question and suggested another conference on the economics of climate change. That encouraged me even more to dare to be brave. My German accent was spotted by the ZDF, the Second Channel who asked me questions in English which I answered in German…
The interviewer said she’d call me so that I can tell mum. I keep trying to find proofs that saving me from the bombing of Dresden was ‘worth it’…