The question of whether to use coal or nuclear power is simply no longer apposite: without a breakthrough in renewable energies, global energy demand cannot be met, not to mention the dangers of a new Chernobyl.
Where this will lead the world can be seen even today: China already has the world’s most ambitious scheme for expanding nuclear energy, and every year it builds coal-fired power plants whose electricity output is roughly equivalent to the capacity of the entire British power grid.
So the black swan of the climate crisis is already preparing to land. To fight the climate crisis effectively demands nothing less than a green revolution of the global economy, the mega-project of the 21st century.
Only the rich industrial nations of Europe, the US and Japan can afford to pay for the necessary investments in emerging countries. But this green revolution must be about more than spending money; it must also be about laws and standards, about political regulation and new technologies, as well as new products and markets, which mean new economic opportunities.
This year, a new global climate agreement will be negotiated in Copenhagen to replace the Kyoto Protocol. This is effectively the last chance to prevent the next black swan from landing. But we must understand that Copenhagen is also a big chance to revive the global economy.
All of the relevant powers of the 21st century are represented in the G20 and they should see the success of Copenhagen as part of their direct responsibility. This time, unlike at the London G20 meeting, they should do the job properly — both to protect our climate and to reboot the global economy.
Joschka Fischer, a leading member of Germany’s Green Party for almost 20 years, was Germany’s foreign minister and vice chancellor from 1998 until 2005.
COPYRIGHT: PROJECT SYNDICATE/INSTITUTE OF HUMAN SCIENCES
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