On climate change, how much progress do you think the recent discussions, including agreeing a cap on global temperature rises, represents for countries like India and China?
Domestic constituencies that may be hard to convince in terms of required actions to meet targets. A: That is true, but there are two issues. One is whether you agree an overall target. The other is the distribution of the burden for having to bring about the change. What we have got now is an agreement on essentially what temperature rise we will accept and so forth. The issue is scientific in a way, but it is also not totally scientific. There is also the question of the cost to the world economy. Forget about distribution now, among different countries. That is where the Stern report played a role in shifting the trade-off, saying We need to do that and we are going to lose less income than we think in bringing this about. The scientific consensus has also grown, but more than all that, I would say I am envious coming from trade, because I cannot think of a similar way in which we could proceed. It was not Jim Hansen climate change expert and Columbia University adjunct professor or
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