The+effects+of+the+current+global+financial+crisis+on+the+environment

Part of the problem is that we continue to treat the economy and the environment as mutually exclusive and in conflict. We think that saving the planet will hurt the economy, and that saving the economy means we cannot save the planet. This is perilous thinking. In fact, the economy and the environment are inextricably linked – the economy cannot exist without a healthy robust environment6. Inaction on climate change is expected to result in widespread damage to the world’s economy, costing the planet at least 5%, and as much as 20% of global product every year, now and forever4,5 (these figures do not include the value of the environmental ecosystems and species that would be irretrievably damaged by significantly altering the terrestrial climate). This level of permanent economic damage would make the current financial crisis seem trivial in comparison. Moreover, recent studies by industry groups such as the US Electricity Production Research Institute (EPRI) have shown that there is a significant economic procrastination penalty associated with inaction on climate change7 – the longer we take to make the necessary changes, the more it will cost us overall. From a purely economic cost-benefit perspective, investing in preventing climate change and arresting global environmental degradation is a very good deal for taxpayers (assuming that they would be asked to foot the whole bill, which of course they would not). ** The Environmental Consequences Of The Financial Crisis ** There are also other indirect consequences of this massive public investment which could have significant impacts. Among them are the possible repercussions on the planet’s environment, and in particular efforts to arrest the effects of climate change. Recent studies by the Intergovernmental Panel on Climate Change (IPCC) and national governments have suggested that the cost of transitioning the global economy to a new lower-carbon footing, thus significantly reducing the risks of damage from climate change, is in the order of 1% of global product per year over the next generation3,4,5. Depending on the rate of global growth, we need to spend in the order of $200bn a year over the next 20 years or so building new cleaner and more efficient power plants, deploying new low-emissions vehicles and fuels, constructing energy-efficient buildings and communities, saving and protecting forests, planting new trees, vastly improving agricultural and water efficiency, and reducing poverty around the world3,4. This spending would generate direct economic activity, stimulate demand for goods and services throughout the global economy, and support innovative new products and businesses5. The energy sector in particular needs significant investment to transition to lower carbon footing. World natural gas production and delivery need to be boosted significantly as part of a massive effort to substitute carbon-intensive coal for cleaner natural gas. Our electrical power generation mix needs to shift fundamentally over the next 20 years towards renewable energy, nuclear power, and clean coal technology3,4,6,7. The benefits of all of this investment to the world’s real economy, the planet’s environment, and ultimately the well-being of humankind, would be considerable.
 * The Economic Consequences Of The Environmental Crisis **

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Globalisation is the process by which all peoples and communities come to experience an increasingly common economic, social and cultural environment. By definition, the process affects everybody throughout the world.

A more integrated world community brings both benefits and problems for all; it affects the balance of economic, political and cultural power between nations, communities and individuals and it can both enhance and limit freedoms and human rights. Social workers, by the nature of their work, tend to meet those who are more likely to have suffered the damaging consequences of some aspects of globalisation.

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Policy Statement
Iraq Supports vigorous enforcement of existing environmental protection laws and standards as well as continuing renewal of necessary measurements as our knowledge base expands. Over the past 20 years, the world’s economy has experienced a golden age of sustained growth. Despite this, major efforts to confront global environmental issues such as climate change have been largely deferred, often because governments did not want to harm the economy. Now that we have succeeded in damaging the economy by other means, governments and business are starting to claim that now is not the right time to confront climate change and other pressing environmental issues. The massive bailout and impending recession are already being used as convenient justification for yet more delays in taking real action against global warming – in physical, moral and economic terms a far more serious threat to us all than a temporary cooling of the economy. We are now facing the very real prospect of several more years of inaction on climate change and global environmental stabilization, a delay which could end up costing us all very dearly. Iraq urges social workers and their representative bodies to recognise the importance of the natural and built environment to the social environment, to develop environmental responsibility and care for the environment in social work practice and management today and for future generations, to work with other professionals to increase our knowledge and with community groups to develop advocacy skills and strategies to work towards a healthier environment and to ensure that environmental issues gain increased presence in social work education.