Former Mexican President Felipe Calderon said leaders must spur “a new kind of awareness” and provide “new arguments, particularly in the private sector,” in order to drive innovation around climate change.
Speaking with Devex Editor-in-Chief Raj Kumar on the sidelines of the Clinton Global Initiative’s annual meetings in September, Calderon also warned against generalizing about the impacts on developing vs. developed economies’ when reducing reliance on fossil fuels. For an all-in approach to combating climate change, he explained, developing countries like China should pounce on the opportunity to protect the world’s poorest while also improving life at home, on the streets of China’s biggest cities.
“Now that China is losing speed in economic growth, if China moves toward a low-carbon economy … it could get a lot of benefits and reverse a lot of damages that are already happening in its big cities,” he said.
Calderon, who chairs the Global Commission on the Economy and Climate, housed within the New Climate Economy, explained that developing countries like China can demonstrate for the developed world the far reach of economic benefits to reducing carbon emission.
The economic returns of efforts to price carbon, he said, will also create a more nurturing environment for innovation, “the most powerful engine for economic growth since the beginning of history,” Calderon said.
Goals to reverse climate change — in addition to to reducing countries’ carbon footprints — could set off a wave of innovation and economic growth.
Molly is a global development reporter for Devex. Based in London, she covers U.K. foreign aid and trends in international development. She draws on her experience covering aid legislation and the USAID implementer community in Washington, D.C., as well as her time as a Fulbright Fellow and development practitioner in the Middle East to develop stories with insider analysis.
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