IngentaConnect Managing the interlocking climate and resource challenges

Abstract:

Energy security, climate change and food and water concerns are posing serious challenges to the management of international relations in an already turbulent world. These new developments—and the corresponding risk management strategies—will change the calculus of interests, powers and strategies for all actors, with significant impacts on the global political economy. Climate change action (such as targets for emissions reductions) will challenge the existing power structures, with the transition to a low-carbon economy creating new winners and losers in the global economy. Today, there is a fresh appreciation about the consequences of bad policy choices. Comparisons have been drawn between the fallout in the global financial system and the kind of risks that unmitigated climate change may bring. Even though the pressure on some resources may have eased since the onset of the global economic downturn in 2008, it is unlikely that the longer term trajectory has been reversed. This calls for renewed understanding and appreciation of the magnitude of risks foreseen. Multiple public goods need to be generated from the same production systems or sectors. In the context of climate change, international cooperation offers the only option that can best serve even narrowly defined national interests. Ensuring human security and peaceful relations among states in the decades to come will require short-term common action within the framework of long-term strategizing and visionary leadership as well as concerted efforts to deal head-on with worst case scenarios in our forecasting and policy planning.

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