Phillip Hammond, Secretary of State for Foreign and Commonwealth Affairs for the United Kingdom, spoke this past Tuesday to the American Enterprise Institute about a truly conservative approach to climate change.
In his speech to the historically conservative think tank, Hammond said that it is a conservative value to protect the future. He said that we all must accept the fact that climate change is occurring and it poses a threat to every nation’s security. The cost of doing nothing, he said, would be catastrophic.
Then what is the cost of doing something? Hammond says the economy has more to gain in a low-carbon system, meaning company’s must be aware of their carbon output and cut them down significantly. Putting a price on this carbon output will force industries to adapt to a low-carbon model.
As these industries begin to adapt, they will drive the costs of renewable energies down thus making it financially possible to convert the world’s energy use to renewable options. The rest of world is beginning to see this reality, leaving the United Kingdom and the United States behind, according to Hammond.
Obviously the cost of doing nothing raises more problems than solutions. Hammond dispels the “agenda” and puts forth a conservative approach. But the cost of doing something depends on what we actually do. So, what is the right way to solve our climate issue?
Original Story: http://www.businessgreen.com/bg/opinion/2434379/philip-hammond-a-conservative-response-to-climate-change