The challenges and contributions of economists

Human history shows that our societies cannot grow without abundant, cheap energy. At the end of the 19th century, the first industrial revolution relied on the consumption of fossil fuels, the main source of carbon dioxide emissions, to sustain economic growth. Since then, global production, fossil fuel consumption and greenhouse gas emissions have followed parallel growth trajectories. Current global warming is a by-product of past growth, and addressing it will require managing future growth.

Indeed, the fight against climate change is not just a matter for climatologists, physicists, meteorologists and chemists... Economists also make an important contribution. They are developing instruments that enable us to see the climate problem in its human totality ("the greatest good for the greatest number") and to manage it effectively. The contribution of economists...