Lord Stern Calls for New Conditionality—On Climate and from Developing Countries this Time!

Lord Nicholas Stern, author of the Stern Review of the Economics of Climate Change, sketched the outlines of a grand bargain between rich and poor countries on climate change in the third annual Richard H. Sabot Lecture last week. CGD president Nancy Birdsall comments on the highlights of the lecture, noting a surprising consensus: when it comes to climate change, developing countries find themselves in the unaccustomed role of dictating conditionality to the rich world.