Global Commission on the Economy and Climate

Global Commission on the Economy and Climate. It is an independent international initiative established to examine the relationship between global economic growth and the imperative for climate action. The commission brings together former heads of government, finance ministers, and leaders from business, finance, and academia to advance research and policy recommendations. Its work is conducted through its flagship project, the New Climate Economy, and aims to inform economic decision-makers worldwide.

History and establishment

The commission was launched in 2013, emerging from a collaborative effort by seven founding countries: Colombia, Ethiopia, Indonesia, Norway, South Korea, Sweden, and the United Kingdom. Its creation was significantly influenced by the landmark 2006 Stern Review on the Economics of Climate Change, authored by economist Nicholas Stern. The initiative was strategically announced ahead of major international events, including the United Nations Climate Change conference in Warsaw and the delivery of the Sustainable Development Goals by the United Nations. Key institutional support was provided by organizations like the World Resources Institute and the Rockefeller Foundation.

Mission and objectives

The core mission is to demonstrate that strong economic development and ambitious climate action are mutually reinforcing, not conflicting, goals. It seeks to shift the narrative by providing rigorous economic analysis to national governments, financial institutions like the World Bank, and business leaders. A primary objective is to inform major international policy processes, including the Paris Agreement framework and the agendas of the G20 and the United Nations Framework Convention on Climate Change. The commission aims to catalyze investment in sustainable infrastructure, clean energy systems, and resilient cities.

Key reports and findings

The commission's primary output is a series of flagship reports under the New Climate Economy banner. The inaugural 2014 report, *Better Growth, Better Climate*, argued that the next 15 years of investment would lock in the world's climate trajectory. Subsequent reports have highlighted the economic benefits of restoring degraded lands, the potential for a circular economy, and the job creation potential of a clean energy transition. A major 2018 report, *Unlocking the Inclusive Growth Story of the 21st Century*, was presented at the Global Climate Action Summit in San Francisco and emphasized the urgency of action by 2030.

Structure and leadership

The commission is composed of eminent global figures, including former political leaders such as Felipe Calderón of Mexico and Helen Clark of New Zealand. Its leadership has included co-chairs like Ngozi Okonjo-Iweala, former Finance Minister of Nigeria and Director-General of the World Trade Organization, and Lord Nicholas Stern. The operational work is managed by a dedicated secretariat and a global partnership of leading economic and policy institutes, including the London School of Economics and the Stockholm Environment Institute. Commissioners serve in a personal capacity, not as representatives of their affiliated governments or organizations.

Influence and impact

The commission's research has been cited by numerous governments and international bodies, influencing national climate plans and the economic case for the Paris Agreement. Its analysis on sustainable infrastructure has informed the strategies of multilateral development banks like the Asian Development Bank. The concepts of "climate-compatible growth" and "green recovery" promoted by the commission gained significant traction during the COVID-19 pandemic as nations designed economic stimulus packages. Its work continues to shape dialogues at forums like the World Economic Forum in Davos and the COP26 conference in Glasgow.

Category:Climate change organizations Category:Economic research institutes