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Copenhagen wants to be the world’s first CO2-neutral city by 2025. But this initiative, however wonderful it sounds, is little more than a costly vanity project.

After all, the whole accounting exercise works only if others are still using coal and gas that Copenhagen’s unpredictable wind power can replace. If the city's unrealistic assumptions fall short, the financial losses for its inhabitants will be substantial.

Opponents of free debate are celebrating. Last week, under pressure from some climate-change activists, the University of Western Australia canceled its contract to host a planned research center, Australia Consensus, intended to apply economic cost-benefit analysis to development projects—giving policy makers a tool to ensure their aid budgets are spent wisely.

COPENHAGEN – The world has generally become a much better place during the last half-century. Skeptics will scoff at the idea of overall improvement, but the numbers don’t lie. The task we face now is to make the world even better.