OECD countries agree to work for a 2015 climate deal

Members of the Organisation for Economic Cooperation and Development, gathered in Paris for the annual two-day Ministerial Council Meeting, on Wednesday (May, 7) announced their commitment “to work towards a deal on combating climate change at the COP21 talks”, to be held in Paris in 2015.
In the official OECD Ministerial Statement, ministers and representatives from 36 countries declared intentions  to pursue “ambitious and cost-effective policies” in order to “limit effectively the increase in global temperature below 2ºC above pre-industrial levels and simultaneously supporting the recovery from the economic and financial crisis”.
According to preliminary OECD estimates released after the meeting, climate change could lower world GDP in 2060 by at least 0.7 to 2.5 percent.
Among measures suitable for “better align[ing] economic, social and environmental policies towards low-carbon growth”, the OECD statement highlights investment in public research for new technologies and innovations; incentives for private investment in low-carbon and climate-resilient infrastructure; policies that foster markets for green goods and services; rationalization and phase-out of inefficient fossil fuel subsidies.