Now is the right time for action on climate change

When growth is strong, governments are urged to allow its exploitation, and when growth is weak they are urged not to worsen matters, says Simon Upton

IN the 30 or so years that climate change has been a global concern, governments have optimistically assumed that a green transition would happen naturally, as rising fossil fuel prices nudged consumers toward low-carbon alternatives.

The impediment, it was believed, was on the production side, as gushing returns on oilfield investments spurred more ambitious exploration. Today, the tables have turned. With oil prices languishing at $40 a barrel, fossil fuel companies do not need governments to tell them to stop investing. The challenge has moved to the consumer. With fuel prices so low, how can consumption patterns be changed?