China is aggressively protecting the economic growth that is transforming the lives of its citizens, instead of spending a fortune battling a problem that is unlikely to affect it negatively until next century. Little wonder, then, that Ed Miliband, Britain’s Secretary for Energy and Climate Change, found “impossible resistance” from China to a global carbon mitigation deal.

A global deal in which countries committed to spending 0.2% of GDP to develop non-carbon-emitting energy technologies would increase current spending 50-fold, and it would still be many times cheaper than a global carbon deal. It would also ensure that richer nations pay more, taking much of the political heat out of the debate.

Most importantly, such an approach would bring about the transformational technological breakthroughs that are required to make green energy sources cheap and effective enough to fuel a carbon-free future.

By: Bjorn Lomborg

To read full article: Project Syndicate