The emission-cut pledges will cost $1 trillion a year and avert warming of less than one degree by 2100.
The United Nations climate conference in Paris starting Nov. 30 will get under way when most minds in the French capital will still understandably be on the recent terror attacks. But for many of the 40,000 attendees, the goal is to ensure that climate change stays on the global economic agenda for the next 15 years.
The Paris conference is the culmination of many such gatherings and is expected to produce agreements on combating climate change. President Obama and the dozens of other world leaders planning to be in Paris should think carefully about the economic impact—in particular the staggering costs—of the measures they are contemplating.
The U.N.’s climate chief, Christiana Figueres, says openly that the aim of the talks is “to change the economic development model that has been reigning for at least 150 years, since the industrial revolution.” That outlook will be welcome among attendees like the delegation from Bolivia. That country’s official material submitted for the talks proposes a “lasting solution” for climate change: “We must destroy capitalism.”