Climate Change vs. Economic Growth in a Time of Crisis

The Canadian Climate Institute asserts that neither halting economic growth nor pausing climate action is a viable strategy for addressing the COVID-19 crisis. It argues that lasting emission reductions require growth-compatible innovation and that Canada's long-term economic interest lies in transitioning to a low-carbon economy to avoid stranded assets and maintain global competitiveness, particularly in the oil and gas sector.

• Reducing greenhouse gas emissions by slowing or stopping economic growth is an ineffective long-term strategy because pandemic-driven emission reductions are temporary and will reverse once normalcy returns.
• Economic growth is essential for the innovation required to combat climate change, as private sector financial motivation drives the cost reductions in renewable energy and electric vehicle batteries.
• Pausing climate policies to stimulate economic recovery is counterproductive for Canada, as reducing dependence on greenhouse gas emissions is a long-term economic necessity to avoid higher future costs.
• Canada's oil and gas sector faces long-term risks from global climate policies and shifting investor preferences, making it necessary for these companies to innovate in areas like hydrogen and geothermal energy to remain competitive.
• Failure to integrate climate resilience into economic recovery risks the creation of stranded assets and the loss of investment in low-carbon innovations that would otherwise provide future jobs and growth.

APA

Canadian Climate Institute (2020). Climate Change vs. Economic Growth in a Time of Crisis. https://climateinstitute.ca/climate-change-vs-economic-growth-in-a-time-of-crisis/

Chicago

Canadian Climate Institute. Climate Change vs. Economic Growth in a Time of Crisis. 2020. https://climateinstitute.ca/climate-change-vs-economic-growth-in-a-time-of-crisis/.

Wikipedia

{{cite press release |author=Canadian Climate Institute |title=Climate Change vs. Economic Growth in a Time of Crisis |date=30 March 2020 |url=https://climateinstitute.ca/climate-change-vs-economic-growth-in-a-time-of-crisis/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{canadianclimateinstitute2020climate, author = {{Canadian Climate Institute}}, title = {{Climate Change vs. Economic Growth in a Time of Crisis}}, publisher = {Canadian Climate Institute}, year = {2020}, month = mar, url = {https://climateinstitute.ca/climate-change-vs-economic-growth-in-a-time-of-crisis/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }