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The Low-Carbon Development Paradigm and Climate Change Risk Reduction Strategy for the Economy

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  • B. N. Porfiriev

    (Institute of Economic Forecasting, Russian Academy of Sciences)

Abstract

— The low-carbon economic paradigm is critically analyzed as to stabilizing the climate situation (not to exceed the 2°С growth of the global air temperature until the end of the 21st century) and improving the quality of life and sustainable economic growth. Climate change is emphasized as being just a part of the total risk for human life and health and economic growth, which is proved by the set of goals of sustainable development adopted by the world community. Hence, a solution of the problem of climate change is necessary—in the long and and distant future—but insufficient condition to minimize the risk for the quality of human life, primarily health, and sustainable economic growth. It is agrued that an efficient action strategy to reduce climate risks for socioeconomic development must target not finding the ways to reduce greenhouse gas emissions but rather development and implementation of a set of measures to ensure the basic goals of sustainable development. In addition, priority must be given to the reduction of emissions of hazardous substances, as well as to planning and implementing measures of the communitiesэ and economy adaptation to climate change with adaptation remaining a key component of the climate risk reduction policy. A case study of China—the global leader in low-carbon energy development race—proves that the strategic policy priority is not climatic but environmental and economic issues as well as (in case of nuclear power plants) military-strategic motivation.

Suggested Citation

  • B. N. Porfiriev, 2019. "The Low-Carbon Development Paradigm and Climate Change Risk Reduction Strategy for the Economy," Studies on Russian Economic Development, Springer, vol. 30(2), pages 111-118, March.
    • Handle: RePEc:spr:sorede:v:30:y:2019:i:2:d:10.1134_s1075700719020163
    DOI: 10.1134/S1075700719020163
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    References listed on IDEAS

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    1. Rozenberg, Julie & Vogt-Schilb, Adrien & Hallegatte, Stephane, 2014. "Transition to clean capital, irreversible investment and stranded assets," Policy Research Working Paper Series 6859, The World Bank.
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    4. Sinn, Hans-Werner, 2012. "The Green Paradox: A Supply-Side Approach to Global Warming," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262016680, December.
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    Cited by:

    1. Jiaying Peng & Yuhang Zheng & Ke Mao, 2021. "Heterogeneous Impacts of Extreme Climate Risks on Global Energy Consumption Transition: An International Comparative Study," Energies, MDPI, vol. 14(14), pages 1-18, July.
    2. Igor A. Yakovlev & Lyudmila S. Kabir & Svetlana I. Nikulina, 2020. "Climate Policy of the Russian Federation: International Cooperation and National Approach," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 26-36, August.
    3. S. N. Alpysbaeva & Sh. Zh. Shuneev & A. A. Bakdolotov & K. S. Beisengazin & E. I. Tautenov & N. N. Zhanakova, 2022. "Forecast of the Long-Term Trajectory of the Potential GDP of Kazakhstan in the Context of the Global Energy Transition," Studies on Russian Economic Development, Springer, vol. 33(5), pages 561-570, October.
    4. B. N. Porfiryev, 2019. "Effective Action Strategy to Cope with Climate Change and Its Impact on Russia’s Economy," Studies on Russian Economic Development, Springer, vol. 30(3), pages 235-244, May.
    5. B. N. Porfiryev & A. A. Shirov & M. N. Uzyakov & M. S. Gusev & I. N. Shokin, 2020. "The Main Directions of Socio-Economic Development of Russia in 2020–2024 and for the Period up to 2035," Studies on Russian Economic Development, Springer, vol. 31(3), pages 245-253, May.
    6. S. V. Chepel’, 2022. "Investment, Technological, and Social Aspects in Modeling the Transition to Low-Carbon Development: The Case of Uzbekistan," Studies on Russian Economic Development, Springer, vol. 33(5), pages 571-581, October.

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