Time for a Smarter Approach to Global Warming

Take malaria. Most estimates suggest that if nothing is done, 3% more of the Earth's population will be at risk of infection by 2100. The most efficient global carbon cuts designed to keep average global temperatures from rising any higher than two degrees Celsius above pre-industrial levels (a plan proposed by the industrialized G-8 nations) would cost the world $40 trillion a year in lost economic growth by 2100—and have only a marginal impact on reducing the at-risk malaria population. By contrast, we could spend $3 billion a year on mosquito nets, environmentally safe indoor DDT sprays, and subsidies for new therapies—and within 10 years cut the number of malaria infections by half. In other words, for the money it would take to save one life with carbon cuts, smarter policies could save 78,000 lives. Many well-meaning people argue that we do not need to choose between tackling climate change and addressing these more immediate problems directly. We can, they say, do both. If only that were true. Just last week, activists from the international aid agency Oxfam reported evidence that European countries were planning to "cannibalize" existing development aid budgets and repackage them as climate-change assistance. According to Oxfam, if rich nations diverted $50 billion to climate change, at least 4.5 million children could die and 8.6 million fewer people could have access to HIV/AIDS treatment. And what would we get for that $50 billion? Well, spending that much on Kyoto-style carbon-emissions cuts would reduce temperatures by all of one-thousandth of one degree Fahrenheit over the next hundred years...read more