Brussels, 09/05/2014 (Agence Europe) - On Wednesday 7 May, 34 countries of the OECD undertook to work together to reach a global climate agreement in Paris in 2015 (COP 21). The declaration adopted after the annual ministerial meeting of the organisation records their joint willingness to step up efforts to conclude the economic transformation required for sustainable growth, including by encouraging private investment in low-carbon infrastructure, stimulating green products and services and phasing out subsidies to fossil fuels.
The ministers called on the OECD to work with the International Energy Organisation, the International Nuclear Energy Agency and the International Transport Forum to look at ways of helping the member countries better align their economic, social and environmental policies on low-carbon growth. According to the OECD's latest preliminary forecasts, climate change could reduce GDP by at least 0.7% by 2060, and as much as 2.5%. (AN)