GLOBALIZATION IN THE ERA OF ENVIRONMENTAL CRISIS by Mr. Jeffrey Sachs, Director, Earth Institute

United Nations Conference Trade Development Trade Development Board Fifty-sixth session 14th Raú Prebisch Lecture Geneva, 15 September 2009 . Jeffrey Sachs, Director, Earth Institute Quetelet Professor Sustainable Development Professor Health Policy Management Columbia University Special Advisor United Nations Secretary-General Ban Ki-moon "Globalization Era Environmental Crisis" . Jeffrey Sachs, 14th Raú Prebisch Lecture - 2 - . Secretary-General, . President Board esteemed members podium, distinguished delegates, ladies gentlemen, incredible honour pleasure today. ' grateful invitation chance complicated times modern economic history. face challenges minute handle month, year, decade. ’ cascading , finance, energy, climatic crises independent, interconnected. signs tightly-knit world unable grips real nature, challenges, opportunities threats globalization. UNCTAD plays remarkable role helping sort challenge give guidance wisdom policymakers world speak behalf voices heard adequately international policy debates. ' grateful part distinguished lecture series inaugurated 27 years Dr. Prebisch , celebrate 45th anniversary UNCTAD, great accomplishment great occasion. ’ talk global economy context environmental challenges face. ways, reading "Globalization Era Environmental Crisis" - 3 - Dr. Prebisch’ lecture 1982, intervening lectures, , , . , biggest challenge , act. lose time planet time luxury . 1982 year financial crisis world. year marked entry world developing country debt crisis. era challenges environment noted/recognized Stockholm Conference 1972, years Dr. Gro Harlem Brundtland chaired famous commission put sustainable development agenda, ’ve lost time . fact, 1982 marked onset era neglect international political economy. Thatcher-Reagan era period disaster, , entered decades inaction, misunderstanding public sector, private sector civil society work solve problems. United States time early 1980s era degradation institutions worsening texture society, marked poverty people falling tattered safety net. ’ lost time environmental issues – spent 27 years Dr. Prebisch’ inaugural . Jeffrey Sachs, 14th Raú Prebisch Lecture - 4 - lecture filling atmosphere greenhouse gases bringing closer thresholds lead devastation large parts world. Trade Development Report 2009, UNCTAD takes climate change. people , UNCTAD’ role answer emphatic . ' excited UNCTAD theme climate change year' Trade Development Report longer put economy ecology separate categories. separate categories -- economy rests base ecology biological organisms. depend water, food grow, safety natural hazards, coming rains time. Millions die hundreds millions threatened inadequate food supply, chronic drought, disasters befall , stronger storm events, higher variability, threats food security. separation development environment. question unit .. challenge climate change – units challenge, environmental challenge, economic challenge social challenge integrally connected separated intellectually negotiations brainstorming world undertake. "Globalization Era Environmental Crisis" - 5 - central message: face dire growing crisis. age sustainable development fundamental challenge. students children generation sustainable development page issue. front centre challenge generation, , older folks, left world unstable unprepared challenges. solve challenges, leave world peril. ’ . world literally unsustainable operates, scales dimensions. incipient macroeconomic recovery crisis year – crash 2008 – fragile. Macroeconomic recovery unsustainable promised -- green recovery. economy recover directs efforts, resources, investments sustainability. manage short-term macroeconomic recovery integrate strategies climate change mitigation adaptation macroeconomic policies. ’ll explain minutes. unsustainable socially. world fabric coming , coming . gaps richest poorest widening. , , . Jeffrey Sachs, 14th Raú Prebisch Lecture - 6 - poor countries richer, true poorest people planet dying poverty, , dying, struggling survive falling . team working dryland regions world, places regard fragile planet rains unpredictable. year, drought conditions places people animals dying. ' soils drying - hopes, future livestock dying , . , world organized proper response, , socially, unsustainable . society United States. true middle-class coming people falling greater poverty vulnerability. social safety net United States tattered 30 years -- shockingly . students don’ finish high school, don’ finish university. ’ rich country people world’ leading economy, social conditions bad threats high. "Globalization Era Environmental Crisis" - 7 - unsustainable, , ecological terms, . time- scale year , people paying price . herdsman northeast Kenya pays price . farmer experiencing water stress India pays price . path tens, hundreds millions , possibilities, billions people, put risk ecological trajectory logical counterpart economies function . unacceptable children, children. means responsibility foremost world ’ grow ’ job. ’ happening ’ happening, , ecological front, world bursting seams. part due success economic prowess. productive oceans fish disappear, lands mineral resources ’ , deplete resources rate ' absolutely staggering, ’ve pretty good magical technologies. ’ve numerous, , population growth rate continues unsustainable . rate , human population increasing 75-80 million people year. means . Jeffrey Sachs, 14th Raú Prebisch Lecture - 8 - decade billion people, trajectory adding 2 billion people mid-century planet profoundly stressed. , persons planet expects expect human rights met access resources, lead extreme collision resource possibilities. pay homage moment Norman Borlaug, passed couple days . great man great humanitarian, winner 1970 Nobel Peace Prize contributions plant breeding, enabled Green Revolution. technology, , Norman Borlaug colleagues India, including scientist .. Swaminathan, Indian Minister Food Agriculture 1960s, Chidambaram Subramaniam, leaders world , , food supplies human population. wonderful achievement, historic achievement evidence accomplish put minds . ’ clear, work didn’ solve problem population prove planet inexhaustible. places green revolution occurred, India doubled population 1960s. capita grain production falling "Globalization Era Environmental Crisis" - 9 - places India water pumped water aquifers ground enabled green revolution leading depletion aquifers putting risk vast populations. side effects. fertilizer counterpart high-yield seed varieties water polluting estuaries world, mistake improve technologies populations solved population problem. solutions imperfect. side effects. stresses planet absolutely growing, don’ stabilize voluntary means-- human population, places ’ growing fastest, typically poorest places world -- win challenge ecological sustainability social economic sustainability. -growing human population. concept pertinent spend minutes concept coined Nobel laureate, atmospheric chemist, Paul Crutzen. Crutzen atmospheric scientists discovered ozone depletion effect chlorofluorocarbon. great discovery saved vast numbers people spared vast destruction. Incidentally, didn’ ozone depletion effect accident brilliance scientists accident NASA . Jeffrey Sachs, 14th Raú Prebisch Lecture - 10 - satellite pictures hole ozone layer Antarctica. mention fact ’ planet. effects pervasive, inclusive, damage likes won’ recognize Nobel winning scientist explains destroying life support systems planet mechanism ’ aware today. ' Crutzen colleagues . years , Paul Crutzen coined neologism ‘Anthropocene’ term age. Anthropocene geologic term refers geologic epoch. geologist – steeped Crutzian terminology – epoch , ’ll Holocene. ’ era Pleistocene, ice-age era. Holocene post ice-age era, post-glaciation. Holocene 11,000 years. , Crutzen believes ’ve passed Holocene, post-Pleistocene post-Holocene era called Anthropocene. Anthropocene Anthropo Greek means human, cene means epoch. term, Crutzen suggests human- epoch planet. means age "Globalization Era Environmental Crisis" - 11 - planet – geologic age, mind – human activity dominates earth processes. extraordinary concept: humanity large absolute number average economic activity , overtaken physical earth processes vital ways point threatening stratospheric ozone level, point changing climate, point fundamentally changing hydrologic cycle . regard Anthropocene metaphor, poetic expression, humans lot influence earth’ physical processes. Interestingly, , American Geologic Society idea tested standards geology determine entered geologic era. standards analyse paleo-climates paleo-geology determine era stopped, began. American Geologic Society looked sediment patterns planet climate patterns Crutzen speaking metaphors, speaking rigorous, geologic terminology: 've entered era Earth processes fundamentally changed. Earth’ processes changed ways crucial note . , 7 billion people earth , remember 10 times . Jeffrey Sachs, 14th Raú Prebisch Lecture - 12 - number lived Malthus wrote " Principles Population" 1798. 7 billion demanding food land human beings appropriating photosynthesis occurring planet ‘primary productivity’, ' called. ' croplands pasturelands. calculations including photosynthesis lost asphalt cities. words, places photosynthesis occurred, , , human habitat, longer photosynthesis. ’ extraordinary – ’ , 40-50% – primary food production planet species. means. means mass death species, appropriating rest biosphere. -sum struggle, ’ negative-sum struggle pushing hard food supply leading extinction dramatic population decline plants animals depend survival. pollinators: disappearing; classes amphibians: disappearing; fisheries world: disappearing. absolutely extraordinary. ’ fundamentally interfering hydrologic cycle, earth’ water cycle, 've built 60,000 major dams rivers world. ' imagine numbers – 60,000 dams ’ count, ’ telling read, ’ , viscerally, accept . "Globalization Era Environmental Crisis" - 13 - major rivers longer flow sea. . Major river ways drying reach sea: Ganges, Yellow River -- Rio Grande Rio Pequeñ. effect mass interference human beings hydrologic cycle, , significant part food supply irrigated crops. significant proportion irrigated crops groundwater irrigation. significant part groundwater irrigation discharged faster ’ recharged, water table falling sharply, large populations threat water depletion. happening North China Plain Indo-Gangetic Plain, Ogallala Reservoir American Midwest, Andes, easy answers . short-term answers lousy. United States, lectured editorial Wall Street Journal, newspaper largest business circulation, extremely irresponsible editorial policy environment. told pumping draining wetlands lost reservoirs California irrigated fruit crops , save fish fish. care ecology. calculations profits month time. reflects ecological ignorance , ’ representative . Jeffrey Sachs, 14th Raú Prebisch Lecture - 14 - thinking . ’ coming edge environmental abyss story true glaciers. glaciers, , pulling . Snow melt, buffer seasonable river flow spring summer, summertime irrigation food system, coming earlier earlier. snow melt turns snow anymore warming, means winter run- water, spring summer run-. means water crops develop. glaciers, , disappear places, represents water supply hundreds millions people Andes, American Northwest, Himalayan Tibetan Plateau, . . ’ barely thinking . Human populations pushing kinds animal reservoirs, grow food industrially, raise beef chickens pigs, . confronting emerging -emerging infections. Swine flu triple combination results complexity pig supply human populations avian populations "Globalization Era Environmental Crisis" - 15 - interacting produce triple combination H1N1. hoping remains -lethal, ' absolutely epidemic. shows kind emergence happen globally, repeatedly future. 've SARS, 've H1N1, 've avian flu , , ’ve AIDS, HIV result human penetration rainforest environment simian immunodeficiency virus, SIV, passed chimpanzee population. 70-75 years zoonotic transmission chimpanzee human populations unleashed global pandemic. ’ accident: ' human beings pushing areas spilling unusual habitats. ’ve touched biggest challenge -- , , climate change greenhouse gases. 've mentioned problematic , added impact climate change. water crisis dams zoonotic diseases dynamics, food supply land clearing, add top climate change ’ underway, climate change, effects greenhouse gases. ’ve overtaken critical chemical cycles: nitrogen cycle, humans putting land nitrogen fixed normal, chemical, biological, physical processes. Nitrogen fixed . Jeffrey Sachs, 14th Raú Prebisch Lecture - 16 - bacteria, fixed lightening, putting nitrogen-based fertilizers feed population. ' multiple effects. ' contributing nitrous oxide greenhouse gases significance. ' contributing hypoxia – dead zone – 130 estuaries world, poisoning key eco-systems planet, river water ocean water meet produce area remarkable biodiversity critical supply food humanity areas killed run- phosphorus nitrogen fertilizers. Turning carbon cycle – chemical cycle badly deranging. raised carbon concentration atmosphere 280 parts million CO2 pre-industrial era, 389 parts million . carbon dioxide, , main greenhouse gas. ' main climate changer, ' changing climate, , ' acidifying oceans. carbon dioxide changing climate planet, devastating ecosystems marine areas Ph oceans falling dissolving CO2 oceans, carbonic acid. reduced Ph threatening manner shellfish ecosystems, coral, plankton species exo-skeletons depend proper balance carbonate ions oceans. "Globalization Era Environmental Crisis" - 17 - climatic effects CO2 . , trajectory absolutely, profoundly unsustainable frightfully dangerous. rise carbon dioxide. Psychologically, unequipped understand , . stock effect. ' accumulation. ' flow. 'll arrive moment scientists , ", , area longer habitable. devastating hurricanes, frequency. subject intense flooding". ' , ", , , . ’ll cut fossil fuels." understand won’ cut - problems. ’ve reached threshold. flow effect , ", God, realize … , ' , ' bad, ’ stop ." late. don’ climate anymore, ' late. beautiful homeland inhabitable anymore, ' late. carbon dioxide remain air centuries - storms, droughts, weather variability, disappearance short rains happening Sahel – continue stop emissions . Jeffrey Sachs, 14th Raú Prebisch Lecture - 18 - . interesting . ' observing effect 've caused, . reasons: part warming masked pollutants. put white aerosols, sulphates, atmosphere, reflects incoming solar radiation ' partial offset warming. sulphates washed rain weeks smokestack scrubbers rest. clean air, unmask climate change masked pollutants . ' reason masking 've . happen. reason oceans longer warm land, phenomenon called thermal inertia, means decades full effect greenhouse layer warm planet water warms rapidly land land cooler full equilibrium. add effects , 've moment measured .7 .8 degree centigrade warming average planet, full effect ’ve 2 degrees centigrade, , full, long-run, decade-scale effect. "Globalization Era Environmental Crisis" - 19 - scientists, including colleague, Dr. James Hansen, American Government’ leading climate scientist, George Bush silence. truth silenced, idiotic 24-year- college degree White House stifle speech leading scientists world. ’ American government working Bush Administration. colleague brave silenced – – completely irresponsible - . ' talking President, ’ talking 24- year-, . Dr. Hansen planetary history, warming start long cycle feedbacks. warm planet melt ice cover, change reflectants planet, ' called "albedo". sunlight, solar radiation, reflected space warming earth absorbed earth raises temperature planet. albedo effects set , effects, methane release permafrost CO2 release oceans drop absorption CO2 oceans, long-term effects ’ larger short-term effects. Hansen 've passed legalese . Jeffrey Sachs, 14th Raú Prebisch Lecture - 20 - called dangerous, anthropogenic limit, limit anthropogenic interference climate system. Hansen limit 350 parts million ' 390 parts million. effects climate change pervasive -- . droughts, floods. loss irrigation water , higher rates evapo-transporation, intense episodes precipitation leading run-, percolation soils. Higher temperatures loss crop yields temperature stress crops. extreme storms: typhoons Indian Ocean China Sea Caribbean. easily, part world, category-4 category-5 hurricanes. decide ‘theory’ , late, Caribbean Biloxi, Mississippi, Orleans, Houston, York City, subject relentless hurricanes higher intensity. don’ turn , ' , ' turned . mention rise sea levels breaking West Arctic ice sheet Greenland proceeding rate understand, highly -linear ice sheets cracking simply melting – . age Anthropocene real . "Globalization Era Environmental Crisis" - 21 - , ladies gentlemen, ’ add layer. true stopped , economic growth. , key objectives world, continue economic growth. perfectly understandable -- work clock promote economic growth poor countries. ' worthy extremely important, important poor populations world. absolutely shred legitimacy , ", stop, 've filled economic growth. ." ' lot growth coming. pieces good news parts world unlocked mobilization science technology rapid growth. China’ economic growth fastest history. admire phenomenal successes: 10% year 30 years. means doubling years size economy. Absolutely phenomenal. ' led dramatic drop poverty. ' kind development happen. challenge sustainability context world unsustainable, growth continue developing countries continue essence growth mobilizing science technology meet human , providence world. . Jeffrey Sachs, 14th Raú Prebisch Lecture - 22 - availed levels growth, countries stuck poverty trap. means expect growth – . give scaling, sense : rich countries average $40,000 capita, PPP, purchasing power parity adjusted. world averages $10,000 PPP, capita. purchasing-power adjusted terms, rich world times world average, developing world $4,000 capita purchasing power adjusted terms, amounts tenth rich world average. Suppose rich world stayed developing world caught . total output world , factor 4 increase production today' population – factor 4 – average $10,000, average $40,000. ' , population growing. current trajectory population 9.2 billion people 2050, 40% . increase 40% -fold increase output capita: rich world grows , total size world economy experience -time increase, roughly. , ladies gentlemen, paradox time. promote economic development: ' morning, noon night, – lose sleep , means ' aiming times production today world "Globalization Era Environmental Crisis" - 23 - ecologically unsustainable. ' good question. ' talk today. prelude. ' hours. ' speed bit. backdrop words. unsustainable today, pushing massive increase output , occur countries achieve economic growth. possibly achieve sustainability , answer couple ways , view, dominant . , hit disaster , growth occur. rich world collapses, poor world stops growing, global crises, , world' aspirations major regions fulfilled. don’ children world, , dangerous world. people involved, world conflicts. ’ve president prime minister rich world , "'ve ran numbers ’ campaigning cutting living standards ." Don' count , ladies gentlemen. smoothly. rallying cry United States, enlightened European Union matters. grow . fact, . Jeffrey Sachs, 14th Raú Prebisch Lecture - 24 - campaigning pledge, "’ stay ," – basis calculation. famous, -called, IPAT equation. = means impact humans environment; population; level economic activity; measure technology. famous equation human impact equal population, times output capita, times measure technological burden physical environment. view – person level economic activity – , impact slow population growth rate, gradually , disastrous , violate ' accomplish, change, fundamentally, technological systems. recommend : ' mention quickly, ' . recommend -double efforts stabilize human population. country responsibility, populations growing quickly, bring control voluntary reductions fertility. Africa total fertility rates children, "Globalization Era Environmental Crisis" - 25 - children, children, woman countryside level persists rural Africa. places bursting seams. .. forecast -Saharan Africa' population grow 800 million , 1.8 billion 2050, place profound ecological stress extreme poverty. , occurs, consistent kind economic development long Africa. African' economic development requires leadership reduce fertility rates voluntarily significantly rapidly. basically aspects , briefly. children survive, parents children surviving, ' ready children. children insurance policy child mortality. children survive, 'll cut family size voluntarily. , family planning contraception free. Poor people afford contraceptives family planning. charge , reach poor, ' children. , empower girls women choices. single important enable young girls stay school married age 12. ensure girls finish primary school, secondary school. . Jeffrey Sachs, 14th Raú Prebisch Lecture - 26 - ' working village Ethiopia, , , fellowships brought UN, girls graduating high school time. traditional, patriarchal community. men, fathers, proud. ' thrilled. ' keeping daughters school. ’ happy opportunity future. cultural obstacle, view. ' resource obstacle. Millennium Development Goals, work , wrong universal primary education. universal secondary education. absolutely prerequisite normal productive life 21st century. bring fertility rates 6 3 quickly – set measures. Populations stabilize enormous benefit world, poor families, poor communities, poor countries, poor regions. turn , bigger complex challenge: technology. fundamental role goal policies fundamental, technological overhaul global sustainability. current technologies – hope 've convinced – incompatible development objectives ecological . internal combustion engine, coal-fired power plants, "Globalization Era Environmental Crisis" - 27 - grow food eat food . simply scale . planet accept . fundamental, technological overhaul. requires kind economy kind economic policy, markets technological change, . essence large-scale technological change public-private partnerships. kind economic strategy, countries globally, bring scale technology change decades put planet sustainable . technologies needed , broadly speaking, sectors contribute challenges mentioned , challenges Anthropocene. greenhouse gases, , big sectors: agriculture. biggest contributor greenhouse gases agriculture, 18% total emissions. deforestation, related agriculture, 15 18%. power sector: produce electricity fossil fuels. transport sector. Buildings industries. general, roughly order magnitude. Power, transport, agriculture, deforestation, bigger – building industries, slightly smaller – total emissions. technologies sectors. . Jeffrey Sachs, 14th Raú Prebisch Lecture - 28 - talk briefly couple : power sector, . , ways produce electricity. big categories. renewables: wind, solar, geothermal. ' big fan biomass land area . Biomass competes biodiversity food supplies. big categories, wind solar; geothermal' niche. Nuclear power important area, dozens countries , find ways ensure ' safely. big category carbon capture sequestration: ability fossil fuels safely collecting carbon dioxide ' released combustion putting safely geologic storage. point possibilities: renewables, nuclear carbon capture. point decision methods commercial decisions , societal decisions. methods markets choose. methods represent areas markets society choices . regulatory systems; research development; public awareness education. simply markets. cooperation bring major change. "Globalization Era Environmental Crisis" - 29 - 'll worry . years Bush Administration announced program test carbon capture sequestration called FutureGen. decision years . idea build coal-fired power plants test capture sequester carbon dioxide emitted plants. years , plants built , time frame – years – ' time frame describes President John Kennedy committed America 1961 put man moon bring safely earth decade. .. . time frame, America longer, apparently, build coal-fired power plant capture carbon dioxide. put man man bring earth, ' , societally, build power plant anymore. , , technically, called pathetic. ' frightening. Frightening. Europe China India . ' wasting time. write papers give speeches ' giving. solves problem. . world coal-fired power plant captures sequesters carbon dioxide, engineers scientists telling decade, "'ve , coal." . Jeffrey Sachs, 14th Raú Prebisch Lecture - 30 - coal-burning countries room: . 've . Urgently. , , sell units . expect 'll China' CCS technology world . Great. lead. ' years building plant. ' legal battles United States . management, administrative battles. arguments billion dollars, 've trillions dollars future risk. ' shocking ' . Turning nuclear raises complex set issues. United States built nuclear power plant 30 years. fit carbon mix part -carbon economy leadership strategy . Obama Administration nuclear, ' plan . plan. ' months close global deal, plan United States. makings agreement . time . General Motors days , visiting wonderful engineering team making plug- hybrid, Chevy Volt. fantastic cars future . Chevy Volt 230 miles galloon – ' 10 times "Globalization Era Environmental Crisis" - 31 - ' . ' , reach, requires partnership .. exist. partnership auto industries, power grid, power generators, regulators. requires subsidies consumers uptake early stage technology, . great idea, prototypes bankrupt GM. don’ country-wide strategy bring . . -- ' afraid ' . fact matter lots options. ' powerful options. institute filled hundreds marvellous engineers scientists, filled great ideas – trial stage, demonstration stage, commercializable – framework globally . , nature, markets . put price carbon — – incentivize -carbon energy sources. tax carbon. , taxing carbon , cap--trade systems, highly cumbersome ways politicians word "tax." ' . scratch ear, hand, . cap--trade system. words, tax carbon . Jeffrey Sachs, 14th Raú Prebisch Lecture - 32 - straightforward, transparent . revert cap--trade system politicians tax, simple tax straightforward job . point simple tax wouldn’ solve problems large-scale technological change. research, development, demonstration, regulation, public knowledge, public acceptability, testing, monitoring. ' system approach. inherently, initial investments technology public goods, private goods. give return making investment. private company develop technologies profitably. public partners. tax, ' movers lose. property rights, 'll lot learning . point : large-scale technological systems change requires clever policies research development, demonstration, regulation, promotion, feed- tariffs, subsidies consumers, -mover advantages, proper pricing externality greenhouse gas emissions. , time, wonderful change build homes, cars drive, power cities economies "Globalization Era Environmental Crisis" - 33 - solve problems. reduce "" IPAT equation. achieve economic growth impact planet , systematically, systems terms, kind market government approach. Public-private partnerships targeted achieve shared global goals. ' age sustainable development. Finally, . structure global negotiations . Climate change poker game hold cards close vest bargain . ' ' viewing negotiations leading Copenhagen. Don' reveal hand, position ' viewed negotiation. model , trade negotiations. ' model people heads. ' wrong model problem. climate change problem trade negotiation . climate change problem simply complex engineering, economic social problem humanity face . stage negotiating; stage joint problem-solving. cards table. discussing, " " .. , ", ' fast plug- hybrid introduced. . Jeffrey Sachs, 14th Raú Prebisch Lecture - 34 - ' nuclear power. ' tapping solar power Mojave." Europe , ", Desertec project link solar North Africa Europe' energy . ' $400 billion. ' thinking making investment. technologies electric vehicles , time table." China , " coal-burning economy. 80% electricity coal. 50% primary energy coal, ' ready lead testing carbon capture sequestration ' put plants geologic capacity capture CO2." ' start , diplomats table. engineers table; scientists table; hydrologists table. ' economists table, cost options. frankly understand , holding cards poker game. ' complicated. poker game people holding cards understand rules game. ' playing poker, poker game ' playing. ' complicated . put cards kind process. "Globalization Era Environmental Crisis" - 35 - 've wanted time secretariat .. Framework Convention Climate Change standing, large technical body. Technical. spilling options, costing, Tunisia , ' option , Desertec good idea, plausible years -- country. mind, , context, issue national goal binding interesting questions. , ' binding ' achieve , ' achievable, ' talk legally binding ' silly. constantly agree achievable achieved. talking , debate ' binding binding, . , years, ten years, moving. analyse options, talk share costs . ' doubt rich world fund significant part incremental costs effort. Absolutely doubt . ' debating hypotheticals , practicalities. ' debating concepts barely real-life counterpart . plans ' based real, technological possibilities. ' based brainstorming, sharing technologies, creating global platforms electric vehicles carbon capture sequestration . . Jeffrey Sachs, 14th Raú Prebisch Lecture - 36 - , , effect, global negotiations , global brainstorming global problem-solving. world' minds solve problems. ' exercise. 'll figure allocate costs, ' . ' point knowing ' . , ' . Finally, 've fast, reasons mentioned. sustainability depends . current recovery world economy, fragile, depends robust investment future. ' American business, ' invest robustly rules game . kind power plant build ' cost energy auto companies infrastructure built depends strategy. strategy. plan. ' bad word United States. Plan. plan. rigid, central plan, plan, indicative plan. public investment profile time table. , robust investments "Globalization Era Environmental Crisis" - 37 - sustain macro-economy. solve problems poorest poor. decide Africa build energy system ground . Africa solar power part world. provide world' electricity cables long square Sahara Desert. Africa accomplish 90%, villages Africa, guess, electricity. 'll , ' rule development assure , ’ development electricity. electrification ensure social stability. finally, sake ecological stability. , children’ future, ' reckless . ' reminded regard people , ", agree ; reach consensus" ' reminded words John . Kennedy, regard greatest speech American president modern times, speech peace American University June 1963. , “ blind differences, direct attention common interests means differences resolved. differences, world safe diversity. final analysis, basic common link . Jeffrey Sachs, 14th Raú Prebisch Lecture - 38 - inhabit small planet. breathe air. cherish children' future. mortal". .