Another in a Triple Crisis and Real Climate Economics Blog series on the Durban Climate Change Conference.
Stop me if you’ve heard this one before: the world is again conferring about what to do about climate change, and again deciding to do very little. If it wasn’t so serious, it would be funny. The satirical publication The Onion greeted the COP17 conference in Durban, South Africa by announcing the release of a new report showing that global warming may be irreversible if no action is taken to prevent it before 2006; in an example of fair and balanced reporting, they also interviewed a critic who put the point of no return as late as 2010.
The real debate in Durban seems less realistic than The Onion’s satire. Should the Kyoto Protocol, currently scheduled to expire next year, be extended or replaced by a better agreement to limit emissions? Will the promised $100 billion funding for climate adaptation – let alone the larger sums that will actually be needed – somehow materialize? Or should we just agree to keep talking?
While others are not blameless, the United States is the leader of the do-nothings, the country whose inaction ensures a global climate stalemate. As long as the world’s largest economy, with the largest cumulative emissions and the greatest resources to tackle the climate crisis, refuses to act, others are not likely to move forward on their own. Yet there is not a snowball’s chance in Texas that any significant climate policy will survive the current U.S. Congress. (more…)

