08 May 2008 05:05:38
David Miliband supports low carbon economy
The foreign secretary has said Europe faces a "resource crunch" and must now work to end its dependency on carbon fuels.
Speaking at the London School of Economics, David Miliband said the EU must pioneer a trans-national low-carbon economy that relies less on undemocratic oil-rich regimes.
He said Europe must embrace regulation, markets and "negotiating positions" that set an example for the rest of the world to follow, especially now that food and fuel prices are rising.
"We risk a scramble for resources, with each nation pitted against the other," he said.
"The alternative is a transition from a global economy dependent on oil and gas to a low-carbon economy with a diverse mix of energy sources and suppliers."
In related news, the United Nations Development Programme has told the Financial Times that spiralling food and fuel prices has made the urban poor in developing countries up to 25 percent les well off within the past 12 months.