Sustainable Development and Climate Change

Sustainability is defined in terms of four overlapping positions, ranging from very weak to very strong sustainability. The core idea is of a non-declining capital stock (including natural capital) over generational time. Weak sustainability positions emphasise capital substitution possibilities and the power of technical process to mitigate resource depletion and pollution problems. Climate change and its associated risks and strong uncertainty are characterised by features which favour a strong sustainability approach incorporating the precautionary principle. Strong sustainability positions recognise constraints on substitution processes and incorporate ethical concerns such as intergenerational equity as a moral duty. Costbenefit analysis is moderated via safe minimum standards which set GHGs concentrations and emissions abatement targets.