Bjorn Lomborg — Wall Street Journal — May 13, 2015
Opponents of free debate are celebrating. Last week, under pressure from some climate-change activists, the University of Western Australia canceled its contract to host a planned research center, Australia Consensus, intended to apply economic cost-benefit analysis to development projects—giving policy makers a tool to ensure their aid budgets are spent wisely.
The new center in Perth was to be a collaboration with a think tank I run, Copenhagen Consensus, which for a decade has conducted similar research. Working with more than 100 economists, including seven Nobel laureates, we have produced research that measures the social and economic benefits of a wide range of policies, such as fighting malaria, reducing malnutrition, cutting air pollution, improving education and tackling climate change.
Therein lay the problem. This kind of comparison can upset those who are committed to advocating less effective investments, particularly poor responses to climate change.
Copenhagen Consensus research shows that policy makers considering climate change have practical solutions. Cutting fossil-fuel subsidies is a great idea. Each year $550 billion is wasted, mostly by developing nations, on subsidies that mainly help the rich. A dramatic increase in spending on green-energy R&D is needed, as innovation will drive down the price of green energy to the point that it can outcompete fossil fuels. A well-crafted carbon tax would help too.
But our analyses also show that Kyoto-style approaches—poorly designed EU climate policies, or the pledge to hold warming to two degrees Celsius—are costly and ineffective. There are much better ways we could spend money to help the planet. Continue reading here….