{"id":673,"date":"2008-11-07T14:24:18","date_gmt":"2008-11-07T19:24:18","guid":{"rendered":"http:\/\/blogs.edf.org\/climate411\/2008\/11\/07\/no_bailouts\/"},"modified":"2008-11-07T14:38:15","modified_gmt":"2008-11-07T19:38:15","slug":"no_bailouts","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2008\/11\/07\/no_bailouts\/","title":{"rendered":"Nature Does Not Do Bailouts"},"content":{"rendered":"

\"Gernot<\/a>A call for change — no, not by Barack Obama, by Al Gore.<\/p>\n

Gore co-authored a call for Sustainable Capitalism in today’s Wall Street Journal:<\/p>\n

At this moment, we are faced with the convergence of three interrelated crises: economic recession, energy insecurity and the overarching climate crisis. Solving any one of these challenges requires addressing all three.<\/p><\/blockquote>\n

The op-ed concludes that:<\/p>\n

Today, the sustainability challenges the planet faces are extraordinary and completely unprecedented. Business and the capital markets are best positioned to address these issues.<\/p><\/blockquote>\n

…as long as the incentives are correct:<\/p>\n

We…need to internalize externalities — starting with a price on carbon. The longer we delay the internalization of this obviously material cost, the greater risk the economy faces from investing in high carbon content, “sub-prime” assets. Such investments ignore the reality of the climate crisis and its consequences for business.<\/p><\/blockquote>\n

This post is by Gernot Wagner, Ph.D.<\/a>, an economist in the Climate and Air program at Environmental Defense Fund, and originally appeared on the Environmental Economics<\/a> blog.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

A call for change — no, not by Barack Obama, by Al Gore. Gore co-authored a call for Sustainable Capitalism in today’s Wall Street Journal: At this moment, we are faced with the convergence of three interrelated crises: economic recession, energy insecurity and the overarching climate crisis. Solving any one of these challenges requires addressing …<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[108],"tags":[],"coauthors":[],"class_list":["post-673","post","type-post","status-publish","format-standard","hentry","category-climate-change-legislation"],"acf":[],"yoast_head":"\nNature Does Not Do Bailouts - Climate 411<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/climate411\/2008\/11\/07\/no_bailouts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nature Does Not Do Bailouts - Climate 411\" \/>\n<meta property=\"og:description\" content=\"A call for change — no, not by Barack Obama, by Al Gore. 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