The High Cost of Green

The goal of Copenhagen Consensus 2012 was to set priorities among a series of proposals for confronting ten great global challenges. A panel of economic experts, comprising some of the world’s most distinguished economists, was invited to consider these issues. The ten challenge papers, commissioned from acknowledged authorities in each area of policy, included nearly 40 proposals for the panel’s consideration. During the conference the panel examined these proposals in detail.

2013-09-18 The precautionary principle used to work. It was set out at the 1992 Rio Earth Summit, and stated that complete scientific evidence was not necessarily required in support of action on the most serious environmental threats. Unfortunately, since then, this well-intentioned principle has become a destructive tool, used to support bad policies. 

Across the world, politicians are now promising climate policies costing tens of trillions of dollars – money we don’t have and resources that are desperately needed elsewhere.

Yet, climate campaigners tell us, if we don’t spend everything on climate now, nothing else matters, because climate change threatens our very civilization. As President Biden says: climate change is "an existential threat".