There is a parallel between the present economic crisis and the ecological crisis we are facing. In both cases, we have been living on credit. On both fronts, time has come to pay for the debt.

The negation of environmental costs and our failure to price natural resources into the economy have brought about the climate crisis. The financial collapse represents the same case of overlooking 'negative externalities' in financial reporting, balance sheet and risk assessment. In both cases, we have tried to privatize profits and socialize losses.

After this crisis, society should see the emergence of a new economy, which is less demanding on resources, more frugal, and less brutal with natu... >>

Mitigation has clearly emerged as a North-South, or industrial countries-developing countries issue. Industrial countries are responsible for past CO₂ emissions, since we now know that the current episode of climate change is largely attributable to anthropogenic causes. But developing countries are doubly concerned. As suggested by current research, they will be primarily affected by the implications of climate change; and they are necessarily part of any solution, given their contribution to current and future CO₂ emissions.

Therefore, a true North-South collective action is required. But, the presence of well identified and documented co-benefits will not be enou... >>