Is decarbonization compatible with economic growth and development? (Joint session with HSE Laboratory for Climate Change Economics)

Climate change is one of the major challenges for the world economy in the 21 century that requires significant joint efforts for reduction of greenhouse gas emissions. The special role here belongs to China, India and other large emerging economies that have huge population, maintain rapid economic growth and are specialized in exports of carbon-intensive goods, primarily to the West. These are the first countries who are shifting from low and middle to high incomes in the fossil-fuel constrained world. If they do this by using conventional development models and follow Western consumption patterns, the planet will definitely face a climate catastrophe. The new models of economic growth are needed that haven’t been elaborated yet. At the section, the following issues will be discussed:

• Is it possible to combine emissions reduction and economic growth in the largest emerging economies?
• How may the instruments of global governance contribute to this objective?
• How is it possible to link climate finance of “enthusiastic” Western countries with low-carbon projects in emerging economies?