South West Regional Skills Enterprise and Employment Analysis 2007/2008

Final Report

4.7 Skills for Sustainability

4.7.1 The Stern Report(30)

Whilst the Stern Report on Climate Change sets out a number of challenges for the global economy as a result of global warming, measures to prevent global warming hold out opportunities for the growth of new enterprises, employment opportunities and the exploitation of skills. These include:

• Climate change policies will lead to structural shifts in energy production and use, and in other emissions-intensive activities. Enormous investment in alternative technologies and processes will be required. Markets for low carbon energy products are likely to be worth at least $500bn per year by 2050, and perhaps much more.
• Financial markets also face big opportunities to develop new trading and financial instruments across a broad range including carbon trading, financing clean energy, greater energy efficiency, and insurance. The new industries will create new opportunities for start-up, small and medium-sized enterprises as well as large multinationals.

(30) Stern Review on the Economics of Climate Change, Cambridge University Press, 2006