“What are we Wauting for?" Professor Stern Bypasses the Juggernaut Links in Climate Change

Abstract

Abstract. Professor N. Stern had had an enormous influence on global warming policy debates. In his 2007 book, he stated the dangerous problem for mankind clearly. And now he comes back with a new book 2016, expressing his frustration about the developments with the UNFCCC and UNEP. The message is: Time is short for policy-making stabilising Planet Earth's climate and thus its overall environment. However, there is an answer to Stern's worry. “What are we waiting for?” in his 2016 book. The COP21 Treaty was possible after years of heavy transaction costs, because it contains the Stern Promise,, i.e. a Super Fund of $100 billion yearly for supporting the giant energy transformation involved in the COP objective of decarbonisation in this century. The COP project stets up global gaming where governments will play their rational strategies including opportunism with guile. Reducing emissions are linked with energy consumption, which is linked with country affluence. Mixing up climate stabilisation with general social development goals (SDG), as economist Sachs suggests, would be a serious mistake, Phycisist Hawkins' recommendation to leave the Earth for some new place in the Universe is but a fairy tale due to lack of energy. Emmissions are linked with energy that is linked with affluence. And all people have the same drive when it comes to money.

Keywords. Emissions, Energy, Affluence, Stern, Sacks, Juggernaut, Super Fund.

JEL. N70, O13, P28.