An equity- and sustainability-based policy response to global climate change

If we sum across social activities, nearly 60% of the worldwide greenhouse gas emissions (GHGs) are associated with energy production and use. The common denominator of most policy proposals is a shift from fossil fuels to an energy system relying increasingly on energy efficiency and renewable energy. The ensuing policy debate has raised cost and efficiency concerns in reducing GHG emissions and many have counselled a go-slow response. Broadly, two precautionary energy policy approaches - 'no regrets' and 'insurance' - have been proposed. Each, in our view, has difficulties that argue against their adoption as an international policy framework. This article proposes a gobal energy policy alternative that adopts an equity- and sustainability-based approach to the definition and distribution of costs of changing the energy sector to avert climate change.