Lord Stern endorses clean economy

Lord Stern endorses 100% Plan’s vision for a ‘clean-tech economy’

Visiting British economic guru Lord Nicholas Stern will tonight attend a dinner with government Ministers Nick Smith and Tim Groser where he will reiterate the need for New Zealand to transform its economy into one based on clean technology.

The dinner will be hosted by a group of influential business leaders known as 100% Plan, and the University of Auckland Business School.

Earlier today, Lord Stern told media of the need for New Zealand to seize opportunities provided by a pending low-carbon industrial revolution, and ask itself ‘are we going to do well in the green race?’.

“If you don’t embrace clean technology you risk falling behind in this new industrial revolution,” he said.

Lord Stern said past industrial revolutions were times of strong investment, innovation and growth. Countries which did not move to a clean economy would see themselves shut out of major trading markets in 10 to 15 years.

He said the main force behind change will be the private sector, but Government policy to incentivise change is crucial: “This is a partnership.”

Duncan Stewart, spokesperson for 100% Plan, says its members are delighted to have their vision endorsed by Lord Stern, who is acknowledged as a pre-eminent world authority on the economics of climate change and the drivers of clean technology.

“This is a rare face-to-face opportunity for business leaders and the Ministers responsible for the climate change, environment, trade, and climate negotiations portfolios to hear a renowned expert give his perspective on low carbon economics and the global demand for clean technology, safe food and renewable energy.”

Duncan Stewart says 100% Plan members will ask Lord Stern his views on how the government/business clean-economy taskforce it is calling for can identify and achieve the necessary policy and fiscal changes to grow the New Zealand economy.

“100% Plan is in no doubt the clean-tech business boom will be one of the biggest the world has seen. Research already undertaken by government and the private sector suggests this could more than double New Zealand’s GDP by 2025 to $250 billion,” he said.

“New Zealand already has strategic advantages which see it well-placed to play a leading role in this next revolution. Acting quickly to build on existing policies and commercial strengths to gain early-mover advantage may be the single biggest opportunity in our lifetime to make a step improvement to our economy.”

ENDS