Low-carbon growth new business as usual

Leaders of the G20 governments meet in London tomorrow. Their common aspiration is to set the world on a pathway of sustainable and widespread economic growth.

While the discussions will be complex, one thing is crystal clear: we must revive growth in the world economy. A low-growth recovery is unacceptable.

This is why governments of the major economies are gearing up to spend about US$ 3 trillion among them to stimulate growth. However, here is the conundrum: a recovery strategy based on high-carbon energy sources will not create the sustainable economic growth the world needs - it will ultimately choke itself on rising hydrocarbon prices and a hostile physical environment created by climate change.