A global consumer-led strategy to tackle climate change

TL;DR

This paper proposes a comprehensive global strategy combining consumer-led ethical investments and government actions to significantly accelerate low-carbon development and climate change adaptation.

Contribution

It introduces a novel approach that leverages voluntary consumer investments and a dedicated low-carbon fund to enhance climate change mitigation and adaptation efforts.

Findings

OECD household savings exceed 5%, indicating high potential for ethical investments.

A voluntary low-carbon fund can mobilize substantial resources for climate adaptation.

Consumer and government actions together can create a scalable global response.

Abstract

A successful response to climate change needs vast investments in low-carbon research, energy, and sustainable development. Governments can drive research, provide environmental regulation, and accelerate global development, but the necessary low-carbon investments of 2-3% GDP have yet to materialise. A new strategy to tackle climate change through consumer and government action is outlined. It relies on ethical investments for sustainable development and low-carbon energy, and a voluntarily financed low-carbon fund for adaptation to climate change. Together these enable a global response through individual actions and investments. With OECD savings exceeding 5% of disposable household income, ethical savings alone have considerable potential.