Renewable energy comes out by far the winner. Photovoltaic solar cells require less than three years, while wind turbines yield net energy after only 4-6 months. If status quo interests have distorted the economic debate surrounding climate change response, they have also skewed the discussion in another highly significant respect. They have argued that newly industrializing and non-industrial countries of the South must immediately bind themselves to any greenhouse gas reduction treaty made by the industrial countries. Of course, response to climate change must be truly global.
All nations have responsibilities.
But the industrial countries, which have dumped a far larger measure of greenhouse gases into the atmosphere and gained great wealth in the process, must act in good faith and take the lead. Asking for commitments for developing countries too early would torpedo the process. It should not be doubted that the South will find reductions in greenhouse gas emissions in its own interest. The South is particularly vulnerable to drought, severe storms and disease outbreaks associated with climate change. Studies show that in the medium term the tropical countries stand to lose around five percent of their gross domestic product if climate change is allowed to continue unabated, compared to 1-2 percent for temperate zone countries.