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September 6, 2010 How Business Must Help to Fight Climate Change

Global Economic Symposium Session Preview No. 6

 

Nobel laureate Eric S. Maskin, speaker at the Global Economic Symposium (GES) in Istanbul, proposes to reward developing countries for successfully reducing greenhouse gas emissions. In doing so, “… a contingent treaty could help. Rather than specifying that developing country A should reduce by a specific amount, the treaty could offer country A a menu of choices, ranging from high reductions (with correspondingly high compensations, in the form of trade concessions or technology transfers) to low reductions (with low compensations)”, Maskin writes on the web forum “Virtual GES” of the Global Economic Symposium, where experts can already discuss in advance the topics to be dealt with at the symposium. A contingent climate treaty of this design has better prospects of success according to Maskin, because getting a treaty is hard. “One important reason is that reducing emissions is economically costly, but the costs of reduction are not publicly known”, he adds.

In order to stop global warming, CO2 emissions need to be reduced drastically. All the experts are clear about this, but how this can be accomplished is not so clear, for the countries who are largest emitters of CO2 are continuing to expand their energy infrastructure, and the threshold and developing countries whose economies are growing quickly are emitting increasingly large amounts of CO2. It is thus important to develop technologies that can also be implemented in threshold and developing countries. If the rich countries were to help the poor countries implement new technologies, there would be a triple dividend: CO2 emission reductions, energy savings, and new jobs.

How can business be convinced to implement efficient technologies? Can public-private partnerships help? How can technology transfer be financed in poor countries? Can an international climate tax help? These are the kinds of questions that the Global Economic Symposium, which is being held by the Kiel Institute for the World Economy (IfW) and the German National Library of  Economics (ZBW) in Istanbul in late September, will attempt to answer in the session “Climate Change and Economic Development”.

The Kiel Institute and the German National Library of Economics would like to invite you to attend the symposium.


About the Global Economic Symposium

Istanbul will be turned in a think tank on September 28-29. More than 400 high-ranking experts from business, academia, government, and society will meet in Istanbul for the Global Economic Symposium (GES). The GES, which is being held by the Kiel Institute for the World Economy (IfW) and the German National Library of Economics (ZBW), is being held for the third time, and for the first time outside of Germany. Among the expected participants are Shumeet Banerji (CEO, Booz & Company), Hans-Paul Bürkner (President und CEO of the Boston Consulting Group), Abdullah Gül (President, Republic of Turkey), Ali Babacan (Turkish Deputy Prime Minister and Minister of State), Ömer Dinçer (Turkish Minister of Labor and Social Security), Yves Leterme (Prime Minister, Belgium), George Papaconstantinou (Greek Minister of Finance), Mehmet Şimşek (Turkish Minister of Finance), James P. Leape (WWF Director General), Thomas Mirow (President, European Bank for Reconstruction and Development), John M. Deutch (Professor of Chemistry, MIT; Former Director of CIA), and the Nobel Laureates in Economics James J. Heckman (University of Chicago), Eric S. Maskin (School of Social Science, Princeton), and Edmund Phelps (Columbia University).


The Kiel Institute’s media agency will be happy to receive your media-accreditation:

Effect Public Relations
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İstanbul, Turkey

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