In remarks to the World Bank’s “Financing Climate Action” event on April 21, Baron Nicholas Stern, one of the world’s most influential climate economists, spoke about what he sees as necessary global actions on climate change, including the sale of conventional internal combustion engine vehicles.
“The right kind of policies have to be put in place, including the abolition of fossil fuel subsidies, the advancement of carbon pricing, but clarity on timescales for decentralization of the grid, clarity on timescales for stopping the sale of internal combustion engine vehicles, and so on—making sure the sense of direction is clear in those ways,” said Stern, who served as chief economist for the World Bank from 2000 through 2003.
