Opinion: Three In One Solution

In an opinion piece published in the Times of India, World Bank Independent Evaluation Group Director General Vinod Thomas and Intergovernmental Panel on Climate Change Vice-Chair Mohan Munasinghe write: "The economic crisis has quickly relegated global warming and global poverty once reliable headline generators down the list of priorities. But it is a mistake to think that governments should triage, that is, deal with poverty and the environment only after they have put the financial crisis behind us....We actually face a threefold global crisis: the economic downturn, rise in poverty and climate change. We cannot escape one without addressing the others....

But remarkably, the current crisis offers some unique opportunities that can be seized....First, this is the time for nations to reverse policies that sacrifice the climate in the name of immediate growth.... Second, this is the chance for countries to invest a sizable share of the stimulus packages in energy efficiency.... Third, this is the moment to make deals leading to a surge in financing for development and its effective use....

Policies aimed at immediate growth at the expense of social safety nets or greener investments will be suicidal. Economic, social and environmental dimensions of the recovery are no longer distinct goals with phased solutions. They are part of the same package of needed actions." [Times of India (6/8)/Factiva]